Palm Beach County homes grew slightly less affordable in the fourth quarter, according to a report by the National Association of Home Builders.
According to the study, 58 percent of houses and condos sold in Palm Beach County were affordable to a typical family. That’s based on income of $65,400 and a median price of $235,000. In the third quarter, 58.9 percent of homes were affordable.
Syracuse, New York, was the nation’s most affordable market. Nearly 93 percent of homes sold there in the fourth quarter were affordable to a typical family. In San Francisco, just 7.8 percent of homes that traded in the fourth quarter were affordable.
Of course, there are many ways to measure affordability. In a separate study last week, the National Association of Realtors ranked Florida as one of the nation’s least affordable housing markets because of the lack of homes available in entry-level price ranges.