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This chart highlights key measures of the Sourcebook allowing easy comparison between geographic areas. For an explanation of what the measures mean, see DESCRIPTION OF MEASURES and choose Compare Housing and Income Characteristics.


           

 Compare Housing and Income Characteristics
   
Virginia
Area 2
Area 3
Area 4
Area 5
Hide   2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4
Overall Housing Affordability Index (HAI) at
Median Household Income 		           
   All Housing  24.0% 23.1%          
   Sold Units  25.7% 24.1%          
   Rent Units  20.6% 20.9%          
  HAI at 80% of Median Household
   Income, all housing 		 30.0% 28.8%          
  HAI at 60% of Median Household
   Income, all housing 		 40.0% 38.4%        
Low-Income Housing Affordability
Index at the Median Income of the
Bottom ¼ of Households		 88.3% 84.8%        
Sold Housing Affordability Indexes            
   Sold HAI at Median Income of Owners  20.9% 19.6%        
  Sold HAI at Median Income of Renters  40.4% 37.9%        
Rental Housing Affordability Indexes            
  Rental HAI at Median Income of Owners  16.8% 17.0%        
  Rental HAI at Median Income of Renters  32.4% 32.8%        
 
Virginia
Area 2
Area 3
Area 4
Area 5
  2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4		 2011 2012
Qtr. 4
Number of Households 2,990,650 - - - - -
Percent Owners* 67.3% - - - - -
Percent Renters* 32.7% - - - - -
Median Income, Households $61,882 $63,379        
   Median Income, Owners  $75,995 $77,833        
   Median Income, Renters $39,352 $40,304        
Median Renter Cost (Median Gross Rent) $1,062 $1,103        
Median Owner Cost $1,324 $1,273        
30% of renter Household Income, $11,806 $12,091                
Median Renter costs (annual) $12,744 $13,234                
30% of Owner Household Income $22,799 $23,350                
Median Owner Costs (annual) $15,889 $15,277                
Median Sales Price (Existing & New) $225,000 $240,858        
Percent of Cost Burdened Households 34.5% - - - - -
Housing Price Index 396.35 397.53                
NA = Data not available.

*The numbers reported and used in the affordability index calculations for median household income, median owner income, median renter income, and median gross rent for year 2011 are based on 2011 single-year data from the U.S. Census, American Community Survey and the 4th quarter 2012 numbers are CPI-adjusted estimates based on the 2011 single-year data. The numbers reported or used in the affordability index calculations for percent owners, percent renters, and number of households are from the 2011 single year data from the U.S. Census, American Community Survey.

Sources: MLS Sales Data (Virginia Association of REALTORS®), U.S. Census, American Community Survey, and Virginia Tech Center for Housing Research.



The data contained in SOURCEBOOK is intended for informational, educational and research uses. The information may not be used for commercial purposes or re-marketed. Any reproduction and distribution of this information must clearly identify Housing Virginia and SOURCEBOOK as the provider of the information.


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