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Housing + Transportation Costs for Median Income Family
Current Value
49%
Definition
Story Behind the Curve
Combined Housing + Transportation costs for a household earning the annual median income of $71,413 in 2019 is 49%. 45% of income spent on housing + transportation is considered the threshold of affordability. This indicator measures the portion of a household’s income going toward transportation and housing costs. It is known as the Location Affordability Index. It estimates the percentage of a family’s income dedicated to the combined cost of housing and transportation in a given location. Affordability varies based on household size, number of commuters, and income levels and area indicated below for different household types.
To view the H +T costs for other household profile types go http://www.locationaffordability.info/lai.aspx
Why Is This Important?
The combination of measuring both household and transportation costs for a household reveals a clearer picture of housing affordability. A house farther away from an employment center that is only accessible by making longer, more frequent trips may be less expensive to purchase, but the cost of transportation may decrease the overall affordability of this location.
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