Atlanta Area Homes Becoming Less Affordable

A recent study by HSH.com indicates that homes in metro Atlanta are becomig less affordable for the average homebuyer.  The study, which assumed a 20 perecent down payment, looked at anticipated home mortgage interest rates and average home purchase prices.  It concludes that a homebuyer needs an annual income of $97,500 in order to afford an average home in the metro Atlanta area.  The average price of an Atlanta area home in the 3rd quarter of 2017 was $204,300 with a monthly mortgage payment of approximately $1,000.

Potential Atlanta homebuyers are having an increasingly difficult time, as home prices continue to rise much more quickly than income gains.


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