Housing Affordability - Owning

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Housing Affordability - Owning

What does this measure?

The ratio of the median home value divided by the median household income, adjusted for inflation.

Why is this important?

This ratio provides a rough estimate of the affordability of homes in a community. A ratio less than 2 or 3 is considered affordable.

How is the region performing?

In 2018-22, the housing affordability ratio in the region was 3.6, slightly higher than the statewide (excluding NYC) (3.3) and slightly lower than the national ratio (3.8). There was only minor variation among the counties of the Mid-Hudson Valley. Sullivan's ratio was the lowest at 3.2 and Ulster, Dutchess, and Orange Counties all had the highest at 3.7 each. Homes in the region were notably more affordable in 2018-22 than they were ten years ago (2008-12), when the ratio was 4.2. The current ratio indicates that housing has remained as affordable as it was in 2013-2017 when it was also 3.6. This trend was borne out for each of the counties, as well as for the state; however, the ratio has increased in the nation from 2008-12 to 2018-22.

Affordability ratios were particularly high in the villages of Kiryas Joel (15.6) and Tivoli (7.8), while the local municipalities with the most affordable homes were in the towns of Hallcott (2.3) and Forestburgh (2.0) and the village of Ellenville (2.2).

Notes about the data

Multiyear figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. However, because the information came from a survey, the samples responding to the survey were not always large enough to produce reliable results, especially in small geographic areas. CGR has noted on data tables the estimates with relatively large margins of error. Estimates with three asterisks have the largest margins, plus or minus 50% or more of the estimate. Two asterisks mean plus or minus 35%-50%, and one asterisk means plus or minus 20%-35%. For all estimates, the confidence level is 90%, meaning there is 90% probability the true value (if the whole population were surveyed) would be within the margin of error (or confidence interval). The survey provides data on characteristics of the population that used to be collected only during the decennial census. Regional ratios were calculated by weighting county medians based on share of population. Data for this indicator are expected to be released in the fourth quarter.

Housing Affordability - Owning
NYS (excluding NYC)
Columbia Cities
Hudson city, Columbia County4.65.36.2
Columbia Towns
Ancram town, Columbia County4.34.14.0
Austerlitz town, Columbia County4.84.14.3
Canaan town, Columbia County3.54.03.1
Chatham town, Columbia County3.73.73.1
Claverack town, Columbia County3.93.83.1
Clermont town, Columbia County4.43.53.8
Copake town, Columbia County2.93.72.5
Gallatin town, Columbia County4.14.23.6
Germantown town, Columbia County4.24.13.7*
Ghent town, Columbia County3.63.53.6
Greenport town, Columbia County3.82.82.8
Hillsdale town, Columbia County4.54.34.3*
Kinderhook town, Columbia County3.72.93.4
Livingston town, Columbia County4.83.5*4.5
New Lebanon town, Columbia County3.73.73.3
Stockport town, Columbia County3.23.02.4
Stuyvesant town, Columbia County3.32.92.5*
Taghkanic town, Columbia County4.04.14.0
Columbia Villages
Chatham village, Columbia County4.44.22.7
Kinderhook village, Columbia County3.93.04.1
Philmont village, Columbia County3.84.2*2.8
Valatie village, Columbia County4.33.12.9
Dutchess Cities
Beacon city, Dutchess County4.53.74.0
Poughkeepsie city, Dutchess County5.84.74.5
Dutchess Towns
Amenia town, Dutchess County3.94.63.7
Beekman town, Dutchess County3.83.23.1
Clinton town, Dutchess County4.03.53.7
Dover town, Dutchess County3.74.63.2
East Fishkill town, Dutchess County3.73.43.1
Fishkill town, Dutchess County3.63.43.9
Hyde Park town, Dutchess County3.62.93.3
La Grange town, Dutchess County3.42.72.9
Milan town, Dutchess County5.15.14.5
North East town, Dutchess County4.44.14.0
Pawling town, Dutchess County4.13.63.6
Pine Plains town, Dutchess County4.04.23.3
Pleasant Valley town, Dutchess County4.03.13.2
Poughkeepsie town, Dutchess County3.93.33.2
Red Hook town, Dutchess County4.53.73.5
Rhinebeck town, Dutchess County5.54.74.4
Stanford town, Dutchess County4.23.53.7
Union Vale town, Dutchess County4.03.64.9
Wappinger town, Dutchess County4.13.53.7
Washington town, Dutchess County5.54.45.2
Dutchess Villages
Fishkill village, Dutchess County3.73.5*2.6**
Millbrook village, Dutchess County5.54.55.2
Millerton village, Dutchess County4.04.73.1
Pawling village, Dutchess County5.54.43.6
Red Hook village, Dutchess County4.84.83.5
Rhinebeck village, Dutchess County5.45.66.4
Tivoli village, Dutchess County6.24.87.8
Wappingers Falls village, Dutchess County3.93.94.3
Greene Towns
Ashland town, Greene County4.2*5.12.6
Athens town, Greene County3.23.53.2
Cairo town, Greene County3.93.12.9
Catskill town, Greene County3.63.93.6
Coxsackie town, Greene County3.92.43.5
Durham town, Greene County3.6*3.43.0*
Greenville town, Greene County3.73.42.7
Halcott town, Greene County2.9*2.5*2.3
Hunter town, Greene County5.74.2*4.3
Jewett town, Greene County6.04.14.8*
Lexington town, Greene County5.14.5*2.6*
New Baltimore town, Greene County2.82.43.0
Prattsville town, Greene County3.93.82.6**
Windham town, Greene County4.34.03.5
Greene Villages
Athens village, Greene County3.23.63.4
Catskill village, Greene County4.05.02.9
Coxsackie village, Greene County3.72.73.7
Hunter village, Greene County6.76.4*4.5*
Tannersville village, Greene County7.83.14.5
Orange Cities
Middletown city, Orange County4.13.63.4
Newburgh city, Orange County5.44.63.9
Port Jervis city, Orange County4.93.54.9
Orange Towns
Blooming Grove town, Orange County3.52.73.5
Chester town, Orange County3.62.72.6
Cornwall town, Orange County3.93.63.4
Crawford town, Orange County3.53.42.9
Deerpark town, Orange County4.13.33.1
Goshen town, Orange County4.13.33.5
Greenville town, Orange County3.42.92.7
Hamptonburgh town, Orange County3.73.34.1
Highlands town, Orange County3.32.62.7
Minisink town, Orange County3.43.23.4
Monroe town, Orange County4.95.03.5
Montgomery town, Orange County3.63.03.3
Mount Hope town, Orange County3.52.93.1
New Windsor town, Orange County3.73.23.4
Newburgh town, Orange County3.62.93.2
Tuxedo town, Orange County5.24.24.4
Wallkill town, Orange County3.83.83.3
Warwick town, Orange County3.93.43.3
Wawayanda town, Orange County3.63.12.6
Woodbury town, Orange County3.12.53.0
Orange Villages
Chester village, Orange County3.62.92.6*
Cornwall-on-Hudson village, Orange County4.03.03.6
Florida village, Orange County3.63.03.0
Goshen village, Orange County4.94.03.9
Greenwood Lake village, Orange County4.22.83.7
Harriman village, Orange County3.82.5**3.2**
Highland Falls village, Orange County3.92.93.1
Kiryas Joel village, Orange County15.713.315.6
Maybrook village, Orange County3.22.92.5
Monroe village, Orange County2.92.93.3
Montgomery village, Orange County3.22.83.9
Otisville village, Orange County3.62.73.2
South Blooming Grove village, Orange County3.53.16.1
Tuxedo Park village, Orange County7.5***7.98.0***
Unionville village, Orange County3.82.83.1**
Walden village, Orange County3.62.84.1
Warwick village, Orange County4.94.44.4
Washingtonville village, Orange County4.02.83.2
Woodbury village, Orange County3.12.42.8
Putnam Towns
Carmel town, Putnam County4.13.73.5
Kent town, Putnam County3.73.12.8
Patterson town, Putnam County3.73.43.7
Philipstown town, Putnam County5.64.44.5
Putnam Valley town, Putnam County4.03.33.5
Southeast town, Putnam County4.03.63.5
Putnam Villages
Brewster village, Putnam County6.34.86.4
Cold Spring village, Putnam County6.14.55.0
Nelsonville village, Putnam County4.74.24.6
Sullivan Towns
Bethel town, Sullivan County3.82.7*2.8
Callicoon town, Sullivan County4.0*2.53.3
Cochecton town, Sullivan County3.52.84.2
Delaware town, Sullivan County3.4*3.12.4
Fallsburg town, Sullivan County3.63.83.1*
Forestburgh town, Sullivan County3.6*2.62.0
Fremont town, Sullivan County3.03.44.6*
Highland town, Sullivan County3.53.93.9
Liberty town, Sullivan County3.83.23.3
Lumberland town, Sullivan County4.12.82.7
Mamakating town, Sullivan County3.62.93.0
Neversink town, Sullivan County3.72.93.7
Rockland town, Sullivan County3.13.32.6***
Thompson town, Sullivan County4.63.43.4
Tusten town, Sullivan County3.63.83.8
Sullivan School Districts
Bloomingburg village, Sullivan County3.4**7.07.4*
Jeffersonville village, Sullivan County3.2*2.63.8***
Liberty village, Sullivan County4.2*3.6*2.9*
Monticello village, Sullivan County5.92.7*3.0
Woodridge village, Sullivan County5.0*2.8*2.4**
Wurtsboro village, Sullivan County3.62.72.4
Ulster Cities
Kingston city, Ulster County4.33.64.0
Ulster Towns
Denning town, Ulster County4.12.72.8*
Esopus town, Ulster County3.22.83.2
Gardiner town, Ulster County4.24.44.2
Hardenburgh town, Ulster County5.4***5.16.7**
Hurley town, Ulster County3.43.13.6
Kingston town, Ulster County3.82.83.8
Lloyd town, Ulster County4.23.53.7
Marbletown town, Ulster County3.64.34.1
Marlborough town, Ulster County4.33.13.2
New Paltz town, Ulster County4.84.24.4
Olive town, Ulster County4.43.93.3
Plattekill town, Ulster County4.23.22.8
Rochester town, Ulster County3.43.63.8
Rosendale town, Ulster County3.53.43.9
Saugerties town, Ulster County3.73.73.9
Shandaken town, Ulster County5.85.55.5
Shawangunk town, Ulster County3.43.03.0
Ulster town, Ulster County3.73.63.3
Wawarsing town, Ulster County3.93.03.0
Woodstock town, Ulster County5.54.47.1
Ulster Villages
Ellenville village, Ulster County4.12.72.2
New Paltz village, Ulster County7.06.95.6
Saugerties village, Ulster County4.65.45.7

Source: U.S. Census Bureau
Notes: Ratio of median home value to median household income. Multiyear results are from rolling American Community Survey. * Margin of error between 20% & 35% of estimate; ** margin of error between 35% & 50%; *** margin of error greater than 50%.

Children Living in Poverty Increasing
Children Living in Poverty, by Race/Ethnicity Increasing
Single-Parent Families Increasing
Single-Parent Families, by Race/Ethnicity Increasing
Rate of Child Abuse and Neglect Decreasing
Rate of Foster Care Admissions Decreasing
Teen Pregnancy Decreasing
Voter Registration Rate Increasing
Voter Participation Rate Decreasing
Total Population Increasing
Population by Age Decreasing
Population by Race/Ethnicity Increasing
Household Types Increasing
Change in Total Jobs Increasing
Foreign-Born Population Increasing
Employment by Sector Not Applicable
Spending for County Government Maintaining
Tourism Revenue Maintaining
Preschoolers Receiving Special Education Services Increasing
Prekindergarten Participation Increasing
Students Receiving Special Education Services Increasing
Per-Student Spending Maintaining
Student Performance on Grade 4 English, by Student Group Increasing
Student Performance on Grade 4 English, by Race/Ethnicity Maintaining
Student Performance on Grade 4 Math, by Student Group Increasing
Student Performance on Grade 4 Math, by Race/Ethnicity Increasing
High School Cohort Graduation Rate Increasing
High School Cohort Dropout Rate Decreasing
High School GED Rate Maintaining
Education Levels of Adults Increasing
Education Levels of Adults, by Race/Ethnicity Decreasing
Median Household Income Maintaining
Median Household Income, by Race/Ethnicity Maintaining
People Living in Poverty Maintaining
People Living in Poverty, by Race/Ethnicity Increasing
Seniors Living in Poverty Increasing
Veterans Living in Poverty Maintaining
Children Receiving Subsidized Child Care Decreasing
Economically Disadvantaged Students Increasing
Earned Income Tax Credit Participation Increasing
Living Wage Rate by Household Type Maintaining
Income in Relation to Poverty Level Increasing
Households Receiving SNAP Maintaining
People Without Health Insurance Decreasing
Early Prenatal Care, by Mother's Race/Ethnicity Not Applicable
Food Insecurity Decreasing
Deaths from Drug Overdoses Increasing
Babies with Low Birth Weights Maintaining
Newly Diagnosed Cases of HIV Decreasing
People Living wth HIV Increasing
Mental Health Clinic Visits Maintaining
Homeownership Rates Maintaining
Homeownership Rates, by Race/Ethnicity Increasing
Cost of Homeownership Maintaining
Cost of Rent Increasing
Cost of Rent, by Race/Ethnicity Not Applicable
Violent Crimes Decreasing
Homeless Persons Decreasing
Domestic Violence Decreasing
Arrest Rates, by Race/Ethnicity Not Applicable
Incarceration Rates, by Race/Ethnicity Decreasing
Children Living in Poverty, by Race/Ethnicity Increasing
Single-Parent Families, by Race/Ethnicity Increasing
Population by Race/Ethnicity Increasing
Student Performance on Grade 4 English, by Race/Ethnicity Maintaining
Student Performance on Grade 4 Math, by Race/Ethnicity Increasing
Education Levels of Adults, by Race/Ethnicity Decreasing
Median Household Income, by Race/Ethnicity Maintaining
People Living in Poverty, by Race/Ethnicity Increasing
Early Prenatal Care, by Mother's Race/Ethnicity Not Applicable
Homeownership Rates, by Race/Ethnicity Increasing
Cost of Rent, by Race/Ethnicity Not Applicable
Arrest Rates, by Race/Ethnicity Not Applicable
Incarceration Rates, by Race/Ethnicity Decreasing