Home affordability improves in Q2

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Still, the cost of owning the typical home remains out of reach or a significant financial stretch for the nation’s average wage earners.

Median home prices in the second quarter of 2019 were not affordable for average wage earners in 353 of 480 U.S. counties analyzed by ATTOM Data Solutions in its Q2 2019 U.S. Home Affordability Report, out Thursday.

The largest populated counties where a median-priced home in the second quarter of 2019 was not affordable for average wage earners included Los Angeles County, California; Cook County (Chicago), Illinois; Maricopa County(Phoenix), Arizona; San Diego County, California; and Orange County, California. The 127 counties (26% of the 480 counties analyzed in the report) where a median-priced home in the second quarter of 2019 was still affordable for average wage earners included Harris County (Houston), Texas; Wayne County(Detroit), Michigan; Philadelphia County, Pennsylvania; Cuyahoga County (Cleveland), Ohio; and Franklin County (Columbus), Ohio.

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