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Choose Area to View: VirginiaBlacksburg MSACharlottesville MSAHarrisonburg MSAKingsport MSALynchburg MSARichmond MSARoanoke MSAStaunton-Waynesboro MSAVirginia Beach MSAWashington DC MSAWinchester MSAAccomack CountyAlbemarle CountyAlexandria cityAlleghany CountyAmelia CountyAmherst CountyAppomattox CountyArlington CountyAugusta CountyBath CountyBedford cityBedford CountyBland CountyBotetourt CountyBristol cityBrunswick CountyBuchanan CountyBuckingham CountyBuena Vista cityCampbell CountyCaroline CountyCarroll County Charles City CountyCharlotte CountyCharlottesville cityChesapeake cityChesterfield CountyClarke CountyColonial Heights cityCovington cityCraig CountyCulpeper CountyCumberland CountyDanville cityDickenson CountyDinwiddie CountyEmporia cityEssex CountyFairfax cityFairfax CountyFalls Church cityFauquier CountyFloyd CountyFluvanna CountyFranklin cityFranklin CountyFrederick CountyFredericksburg cityGalax cityGiles CountyGloucester CountyGoochland CountyGrayson CountyGreene CountyGreensville CountyHalifax CountyHampton cityHanover CountyHarrisonburg cityHenrico CountyHenry CountyHighland CountyHopewell cityIsle of Wight CountyJames City CountyKing and Queen CountyKing George CountyKing William CountyLancaster CountyLee CountyLexington cityLoudoun CountyLouisa CountyLunenburg CountyLynchburg cityMadison CountyManassas cityManassas Park cityMartinsville cityMathews CountyMecklenburg CountyMiddlesex CountyMontgomery CountyNelson CountyNew Kent CountyNewport News cityNorfolk cityNorthampton CountyNorthumberland CountyNorton cityNottoway CountyOrange CountyPage CountyPatrick CountyPetersburg cityPittsylvania CountyPoquoson cityPortsmouth cityPowhatan CountyPrince Edward CountyPrince George CountyPrince William CountyPulaski CountyRadford cityRappahannock CountyRichmond cityRichmond CountyRoanoke cityRoanoke CountyRockbridge CountyRockingham CountyRussell CountySalem cityScott CountyShenandoah CountySmyth CountySouthampton CountySpotsylvania CountyStafford CountyStaunton citySuffolk citySurry CountySussex CountyTazewell CountyVirginia Beach CityWarren CountyWashington CountyWaynesboro cityWestmoreland CountyWilliamsburg cityWinchester cityWise CountyWythe CountyYork County

The Housing Affordability Index (HAI) is adjusted by replacing median household income with 80% of the median household income. The result is an overall HAI that reflects, for the typical household with income at 80% of the median household income for the area, the percent of income required to occupy the median housing unit including both sold and rented housing. The sold component of the overall HAI measures, for the typical household with income at 80% of the median household income, the percent of income required for the Principal, Interest, Taxes, and Homeowner’s Insurance (PITI) payment for the median unit sold. The rental component of the overall HAI measures, for the typical household with income at 80% of the median household income, the percent of median household income required for gross rent, including utilities, for the median unit rented.

The HAI (at 80% Median Household Income) is depicted for the most recent quarter in the chart below. The orange box illustrates the sold component which reflects, for the typical household with income at 80% of the median household income, the percent of income required to own the typical unit. The yellow box represents the rental component which reflects, for the typical household with income at 80% of the median household income, the percent of income required to rent the typical unit. The blue box, representing the overall HAI (at 80% Median Household Income), is the weighted average of the sold and rental components (each component is weighted by its respective share of the housing market; sold by the percent of owners and rental by the percent of renters) and reflects, for the typical household making 80% of median income, the percent of income needed to afford a typical home.

For households making 80% of median income, what percent of their income is needed to afford a typical home?

Overall Housing Affordability Index (HAI) Of Income Required

=

Homeownership Of Income Required Median Monthly Cost (PITI) Based on Median Sales Price

+

Rental Of Income Required Median Monthly Cost* *Gross rent, includes utilities; based on all units

Affordability from a Metropolitan Perspective:
Replacing the jurisdiction 80% of median household income with the metropolitan 80% of median household income of results in a revised HAI of (with the sold component = and the rent component = ).

This chart shows the trend of housing affordability based on 80% of median household income over time. Quarterly data is shown for the Housing Affordability Index at 80% of Median Household Income (HAI_80%) which represents affordability of the typical housing unit (either sold or rent); the sold component of the HAI_80% which represents affordability of the typical sold unit; and the rent component of the HAI_80% which represents the affordability of the typical rental unit.

How has that percentage changed over time?

Missing points = Data not available.
Note: A small number of sales may cause erratic trends.
Sources: MLS Sales Data (Virginia Association of REALTORS®); U.S. Census, American Community Survey; and Virginia Tech Center for Housing Research.

Statewide Map of Housing Affordability Index at 80% of Median Household Income

This map, for the most recent quarter, shows the Housing Affordability Index at 80% of Median Household Income (HAI_80%) for Virginia Counties and Independent Cities allowing for a visual comparison of housing affordability of the typical housing unit for localities in Virginia. More intense red color indicates a higher index (meaning a larger percent of household income is needed for housing). Grey color indicates that data is not available. Move mouse over the map to see the percentage values for individual localities. Use the sliders at the bottom of the map to select a range of values to display (the default is all, 0%-100%).

 

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The data contained in SOURCEBOOK is intended for informational, educational and research uses. The information may not be used for commercial purposes or re-marketed. Any reproduction and distribution of this information must clearly identify HousingForward Virginia and SOURCEBOOK as the provider of the information.

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