The REALTORS® Affordability Distribution Curve (which measures how many houses are affordable to households ranked by income) and REALTORS® Affordability Distribution Score (which represents affordability for all different income percentiles in a single measure) are both quite favorable for Michigan residents.
For Michigan, the REALTORS® Affordability Distribution Curve shows that at all income levels households can afford more houses than their income percentile, thus more affordable houses. Michigan also has a 1.14 Affordability Score which suggests that Michigan is a market where homes for sale are more affordable to households in proportion to their income distribution. Check out the interactive REALTOR® Affordability Distribution Curve and Score for yourself and see how we compare nationally.
Article courtesy of the National Association of REALTORS®