Housing Affordability Index

The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.

Housing Affordability Index data are provided by NAR solely for use as a reference. No part of the data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without NAR's prior written consent for those who are not members of NAR.

Note: Starting in May 2019, FHFA discontinued the release of several mortgage rates and only published an adjustable rate mortgage called PMMS+ based on Freddie Mac Primary Mortgage Market Survey. With these changes, NAR will no longer release the HAI Composite Index (based on 30-year fixed rate and ARM) and will only release the HAI based on a 30-year mortgage. NAR calculates the 30-year effective fixed rate based on Freddie Mac's 30-year fixed mortgage contract rate, 30-year fixed mortgage points and fees, and a median loan value based on the NAR median price and a 20 percent down payment.

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Monthly Index

The Monthly Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent monthly price and income data.

Monthly HAI for printing (PDF: 152 KB)

*Median Family Income: NAR uses Income data from the Census Bureau American Community Survey. Census income data is not available for later than 2016. Thus, NAR projects income levels for later than 2016. Specifically, median family income estimates are based on the average of wage growth and last year’s actual income growth.

Quarterly Index

The Quarterly Housing Affordability Index measures whether or not a typical family qualifies for a mortgage loan on a typical home at the national and regional levels based on quarterly price and income data, as well as a look at affordability conditions for first time buyers.

First-time Affordability for printing (PDF: 20 KB)

Quarterly Affordability for printing (PDF: 19 KB)

Metropolitan Index

The metropolitan index shows the existing single-family home affordability index over the past four years, by metropolitan area.

Metro Affordability 2018 for printing (PDF: 73 KB)

Historical Information

Historical data can be purchased in the REALTOR® Store. If you are not a member of NAR and are interested in purchasing historical data, please contact Caroline Van Hollen at cvanhollen@nar.realtor.

Next Quarterly Release

NAR will release its next quarterly report on housing affordability on Wednesday, February 12, 2020, at 10:00 a.m. Eastern.


Next Monthly Release

NAR will release its next monthly report on housing affordability on Friday, December 13, 2019, at 10:00 a.m. Eastern.


NAR Research Data Release Dates

Questions?

If you have questions about this data, please email them to data@realtors.org.

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