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Affordability-wise, Buffalo scores well on home front

Thu, Jan 31st 2008 12:00 am
A study of housing affordability nationwide ranks Buffalo 189th out of 201- but that is a good thing, according to the Center for Housing Policy.

The report, "Paycheck to Paycheck: Wages and the Cost of Housing in America," was released Tuesday. It examines home prices in 201 metropolitan areas and the ability of workers in 60 occupations to purchase a home.

Buffalo ranks as the 13th most affordable housing market based on a median price of $102,000 in the third quarter of 2007, as recorded by the National Association of Home Builders.

Rochester placed 179th, with a median price of $120,000, while Syracuse was 191st at $100,000.

San Francisco is the nation's costliest metro for home-buying, with a median of $770,000. California has the top six home prices, with New York City seventh at $525,000.

The nation's cheapest median housing price - $87,000 - can be found in Davenport, Iowa, and Lima, Ohio.

The Center for Housing Policy is the research affiliate of the National Housing Conference of Washington, D.C. The study can be found at www.nhc.org.