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 2020-24, the housing affordability ratio in the region was 3.9, higher than the statewide (excluding NYC) (3.5) and slightly lower than the national ratio (4.1). There was only minor variation among the counties of the Mid-Hudson Valley. Sullivan had the lowest ratio, at 3.4 while Columbia had the highest at 4.3.

The regional ratio is the same as it was in 2010-14, making homes in the region just as affordable as they were ten years ago (2010-14), similar to the state. Individual county ratios either increased or stayed the same in during this time period. Columbia's ratio increased the most from 3.8 in 2010-14 to 4.3 in 2020-24.

Affordability ratios were particularly high in the villages of Kiryas Joel (15.2) and Hunter (11.5), while the local municipalities with the most affordable homes were in the towns of Delaware (2.4), Stockport (2.5), Forestburgh and Mamakating (both at 2.7).

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.