Businessweek Archives

Housing Just Got a Lot More Affordable


Following up on my colleage Peter Coy’s note from yesterday. Here are the cities with the biggest increase in affordability:

Housing Cost to Income Ratio (Peak to Current)

Metro Area

Peak Date

Peak Ratio

Current Ratio

% Change

Oakland, CA

2007-07

84%

28%

67%

Riverside-San Bernardino, CA

2006-06

68%

25%

64%

Sacramento, CA

2005-08

63%

26%

59%

Las Vegas, NV

2006-06

54%

22%

59%

Phoenix, AZ

2006-06

46%

19%

58%

Los Angeles, CA

2007-08

102%

45%

56%

Miami, FL

2007-07

76%

34%

54%

Washington D.C.,

2005-11

53%

25%

53%

Detroit, MI

2004-06

29%

15%

49%

Tampa, FL

2006-06

42%

21%

49%


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