The Jacksonville Metropolitan Statistical Area is a more affordable housing market than the national average, according to information provided by the Northeast Florida Builders Association.
In a report released at the end of the third quarter 2004 by the National Association of Home Builders, 69.2 percent of the homes here are available for people earning a median income. The reported median income for the area is $56,600. The median cost of a home in Jacksonville is $155,000.
Nationally, 50.4 percent of homes sold were affordable to families with a median income of $57,500. The national median selling price was $225,000.
The report included a listing of the 25 most affordable metro areas and the 25 least affordable metro areas. No Florida metro area made either list. The report covered 162 metropolitan areas nationwide.
Lima, Ohio was ranked the most affordable housing market in the nation. In that area, 90.5 percent of the homes are available to families earning a median income of $52,500. This marks a slight decline in affordability since the first quarter of 2004, when 92.4 percent of homes sold in Lima were affordable to median-income earners.
At the opposite end of the spectrum, the metro area encompassing Santa Barbara, Santa Maria and Lompoc, Calif., earned the dubious distinction of being the least affordable area in the nation. Less than 5 percent of homes old were affordable to families earning the median household income of $64,700. The median sales price was $447,000. Nineteen of the 25 least affordable markets are in California.
Housing opportunity index
The listings start with the metro area and are follwed in this order:
Share of homes affordable for median income/2004 median family income ($000s)/Median sales price ($000s)/Affordability rank nationally/Affordability rank in the South.
Tallahassee 76.1/56.5/139/40/10
Pensacola 75.5/50.7/132/44/12
Gainesville 72.2/52.2/135/53/16
Ocala 70.6/42.4/110/61/19
Lakeland-Winter Haven 70.1/46.7/123/64/20
Jacksonville 69.2/56.6/155/65/21
Melbourne-Titusville-Palm Bay 66.3/54.7/150/75/26
Orlando 62.5/54.7/168/88/33
Tampa-St. Petersburg-Clearwater 62.3/51.2/150/90/34
Fort Walton Beach 58.1/54.7/171/100/37
Fort Myers-Cape Coral 56.8/54.1/173/101/38
Punta Gorda 54.0/48.6/158/104/39
Panama City 49.8/49.2/183/110/41
Sarasota-Bradenton 48.8/54.3/197/115/43
Fort Pierce-Port Lucie 47.9/50.8/180/117/45
Fort Lauderdale 47.8/57.7/198/119/46
Naples 44.2/63.3/260/123/47
National rank is based on 162 areas; South rank is based on 47 areas.