Tuesday, May 22, 2018
Business

Despite soaring home prices, Tampa Bay still an affordable market

Finally, some good news for Tampa Bay home buyers. Despite rising prices, the bay area remains relatively affordable compared to many other parts of the country.

In the second quarter of this year, Tampa Bay's "affordability index" stood at 99 percent, meaning the median home price of $191,000 was almost exactly at its historic norm, according to ATTOM Data Solutions, parent of RealtyTrac. (The further below 100, the less affordable; the further above, the more affordable.)

It's a different story nationwide, though. The $253,000 median home price was at its least affordable level since the third quarter of 2008, with 45 percent of counties analyzed less affordable than their historic norms. Four of the five least affordable counties were in the Denver area while the most affordable counties were in the Atlantic City and Sussex, N.J., areas and in North Carolina's Jacksonville County, home to Fort Bragg.

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