housing affordability index

housing affordability index definition - business

housing affordability index

A measure of the percentage of homes sold in a metropolitan area that a median-income family living in that area can afford. The index is used as an indication of the degree to which homes are reasonably priced, with a higher index indicating greater affordability.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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