Published
03-30-2019
In 2018, 66.2 percent of single-family homes sold in Tucson were affordable to a family earning the median income. That ranked Tucson second among peer western metropolitan areas in housing affordability, just below Albuquerque but better than Phoenix. This is an important factor in the local economy because the home is the largest asset for most people and its price can affect spending in other areas, such as child and health care. Since 2009, Tucson’s share of affordable homes has exceeded the national share. However, housing affordability has declined over the past few years in Tucson, as well as across the nation, as home prices continue to rise faster than wages.
Tag
