New analysis from SmartAsset looks at historically affordable metros that may soon fall financially out of reach for residents.
The study found that rising prices are the norm in affordable cities. Of the 56 housing markets analyzed, 43 saw home prices rising. The Dallas metro area stood out, with three local cities in SmartAssets top ten for rising prices. Though Texas cities like Irving, Garland, and Dallas itself haven’t priced residents out yet, it could be coming: Between 2016 and 2017 the average home price in Garland went from 2.4 to 2.8 times the average household income, an increase of 17.4 percent.
Other cities to watch for unaffordability in the coming years include North Las Vegas, Nev., Philadelphia, Jacksonville, Fla., and Nashville, Tenn.
Advertisement
Related Stories
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers