Morning Minute: Three Illinois cities make most affordable housing list

The Illinois cities of Rockford, Decatur and Springfield were among the top five U.S. metro areas with the best housing affordability conditions in the final quarter of 2013, according to the National Association of REALTORS® (NAR). The other cities on the list were Toledo, Ohio and Lansing-East Lansing, Mich.

NAR’s Housing Affordability Index looks at the relationship between median home prices, median family incomes and the average mortgage interest rate to determine affordability. At the other end of the spectrum, the five least affordable communities included Honolulu and four cities in California. Read more.

In other headlines:

Bad weather hammers housing starts, again – USA Today

Student debt may hurt housing recovery by hampering first-time buyers – Washington Post

This entry was posted in Consumer Information, Housing Market by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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