Affordability is driven by both prices and rates
Home prices, payments and affordability – Coastal Association region
Feb 2020 Feb 2021 $225,000 $256,500
Feb 2025 Feb 2026 $349,495 $375,495 6.84% 6.05% $2,534 $2,536 $105,600 $108,700
Date
Median Price
Mortgage Rate
3.47% 2.81%
Monthly Payment
$1,266
$1,801
Income Needed
$54,300
$77,200
Notes: Assumes 10% downpayment, 30-year fixed rate mortgage, average mortgage rate, and average property tax and homeowners’ insurance. Assumes a home buyer spends no more than 28% of income on the monthly payment.
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