Economy
Housing Affordability - Owning


Housing Affordability - Owning

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What does this measure?

The median home value divided by the median household income, adjusted for inflation.

Why is this important?

The ratio provides a rough estimate of the affordability of homes in a community. A ratio less than 2 or 3 is generally considered affordable.

How is our county doing?

In 2013-17, homes in Erie County were fairly affordable, with an affordability ratio of 2.6. This was more affordable than Pennsylvania as a whole, at 3.0, and the U.S., at 3.4. Homes have become somewhat less affordable in the county since 2000, when the ratio was 2.3, while the state and nation have had larger decreases in affordability. The City of Erie had a housing affordability ratio of 2.4 in 2013-17, also up slightly from 2000.

How do we compare to similar counties?

Erie County's home affordability ratio was slightly higher than Broome County, NY, at 2.3, and about the same as Luzerne County, PA and Stark County, OH, both at 2.5.

Notes about the data

Multiyear figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census. Data for this indicator are released annually in December.

Housing Affordability - Owning
20002008-122013-17
United States2.73.43.4
Pennsylvania2.43.23.0
Erie County, PA2.32.62.6
Broome County, NY2.12.32.3
Stark County, OH2.52.72.5
Luzerne County, PA2.52.72.5
Erie City2.32.52.4

Source: U.S. Census Bureau
Notes: Ratio of median home value to median household income. Multiyear results are from rolling American Community Survey.








INDICATORS TREND | ERIE COUNTY
Arts, Entertainment and Recreation Establishments Maintaining
Arts, Entertainment and Recreation Employees Increasing
Tourism Spending Maintaining
Median Age Increasing
Population by Age Not Applicable
Population by Race/Ethnicity Not Applicable
Change in Total Population Decreasing
Foreign Born Population Increasing
Household Types Not Applicable
Average Household Size Maintaining
Single-Parent Families Increasing
Median Household Income Maintaining
Public Assistance Maintaining
Change in Average Salary Decreasing
Unemployment Rate Increasing
Unemployment Rate by Race/Ethnicity Not Applicable
Change in Employment by Sector Not Applicable
People Living in Poverty Increasing
People Living in Poverty, by Race/Ethnicity Not Applicable
Children Living in Poverty Increasing
Children Living in Poverty, by Race/Ethnicity Not Applicable
People Living in Poverty by Education Level Not Applicable
Homeownership Rates Decreasing
Homeownership Rate by Race/Ethnicity Not Applicable
Housing Affordability for Homeowners Maintaining
Median Rent Maintaining
Student Performance in Grade 3 Reading Increasing
Student Performance in Grade 3 Math Increasing
High School Cohort Graduation Rate Maintaining
Per Student Spending Maintaining
Prekindergarten Participation Increasing
Education Level of Adults Not Applicable
Education Levels of Adults, by Race/Ethnicity Not Applicable
Air Quality Increasing
Water Quality Maintaining
Recycling Tons Per Capita Maintaining
Solid Waste Per Capita Maintaining
Vehicles by Fuel Type Not Applicable
Mortality Rate Decreasing
Death from Heart Disease Decreasing
Death from Cancer Decreasing
Death from Stroke Decreasing
Death from Chronic Lower Respiratory Disease Increasing
Hypertension Prevalance Increasing
Diabetes Prevalence Increasing
Asthma Increasing
People Without Healthcare Coverage Decreasing
People Without a Primary Care Physician Increasing
Routine Checkups Increasing
People Who Cannot Afford Healthcare Decreasing
Adults Who are Overweight or Obese Increasing
Children Who are Overweight or Obese Increasing
Teens Who are Overweight or Obese Increasing
Adult Smokers Decreasing
Physically Inactive Adults Decreasing
Binge Drinking Maintaining
Infant Mortality Decreasing
Low Birth Weight Babies Not Applicable
Live Births to Teen Mothers Decreasing
Non Smoking During Pregnancy Increasing
Early Prenatal Care Increasing