November 21, 2024 11:23 am
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Tucson’s housing affordability dips

Housing Affordability 2nd Quarter 2023

By Real Estate Daily News

TUCSON, ARIZONA (September 19, 2023) — After improving in the first quarter of 2023, housing affordability dropped to near-record lows in the second quarter of 2023 for the Tucson Metropolitan Statistical Area (MSA). Tucson ranked third among peer MSAs, behind Albuquerque and San Antonio, with 38.6% of homes sold in the second quarter of 2023 considered affordable to a family earning the local median income (Figure 1). That was just 3.6 percentage points above the record low of 35.0% in the fourth quarter of 2022. Housing affordability in San Diego remains dismal compared to many of the MSAs tracked on the MAP, with only 6.3% of homes sold in the second quarter of 2023 considered affordable.

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