Affordability crisis? Not in Palm Beach County

money-house-nt

Palm Beach County’s combination of rising home prices and stagnant wages has created no shortage of gripes about housing affordability. But our problems don’t really qualify as an affordability squeeze, according to a RealtyTrac study released Thursday.

The median-priced home in Palm Beach County costs a mere 33 percent of average annual wages, RealtyTrac says — ranking in the middle of the pack among 417 large U.S. counties, and also in the middle of the pack among Florida counties.

Buyers in areas like New York City and northern California cough up more than a full year’s average wages for a median-priced home. By RealtyTrac’s reckoning, Collier County is the least affordable Florida county.

 

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