Analysis: Home affordability in Miami County tanks


Miami County had the lowest home affordability index in Ohio in the third quarter, according to an analysis of 440 counties by ATTOM Data Solutions.

The county scored a 76 in home affordability in the analysis, which concluded that home affordability around the country has been decreasing. The counties studied had populations of at least 100,000 and had 100 or more third-quarter home sales.

A median-value home in Miami County costs $150,000.

The report determines the affordability number based on the household income needed to purchase a median-priced home in the county compared to historical data. An index under 100 indicates affordability is decreasing.

The county’s affordability index declined 16 percent over the same period in 2017.

“The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability — which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. 

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Ohio counties with lowest home affordability indexes

CountyQ3 2018 Median Sales PriceQ3 2017 Affordability IndexQ3 2018 Affordability IndexYoY % Change In Affordability Index
Miami$150,000 9076-16%
Licking$180,000 9381-13%
Montgomery$125,000 9482-13%
Lucas$119,900 9383-11%
Franklin$185,000 9684-13%
Stark$135,000 9384-10%
Trumbull$86,700 9687-9%
Clermont$182,000 9288-4%
Greene$157,000 10488-15%
Summit$135,000 10488-15%
Lorain$135,000 9688-8%
Fairfield$191,000 9889-9%
Butler$169,900 10389-14%
Portage$165,250 9490-4%
Hamilton$143,750 10091-9%
Delaware$277,450 10292-10%
Wood$175,000 9993-6%
Cuyahoga$130,000 10093-7%
Clark$105,000 93930%
Medina$190,000 9894-4%
Warren$215,000 11095-14%
Lake$140,000 112104-7%
Allen$84,500 112105-6%
Source: ATTOM Data Solutions

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