Houston Housing & Rental Affordability Report
With housing affordability continuing to be a hot topic in real estate, HAR releases its Housing and Rental Affordability Reports for the second quarter of 2023.
The Housing Affordability Index (HAI) is an easy-to-understand measurement that gauges the percentage of households that can afford to purchase a median-priced, single-family home in the Greater Houston area as well as other select regions and counties across Texas. It also identifies the minimum income required to purchase the median-priced home in a variety of neighborhoods. The Rental Affordability Index (RAI) measures the percentage of households that can afford to pay the median monthly rent for a single-family home in the Houston area.