Analysis: Home affordability in Tazewell County tanks


Tazewell County had the lowest home affordability index in Illinois in the third quarter, according to an analysis of 440 counties by ATTOM Data Solutions.

The county scored a 81 in home affordability in the analysis, which concluded that home affordability around the country has been decreasing. The counties studied had populations of at least 100,000 and had 100 or more third-quarter home sales.

A median-value home in Tazewell County costs $133,500.

The report determines the affordability number based on the household income needed to purchase a median-priced home in the county compared to historical data. An index under 100 indicates affordability is decreasing.

The county’s affordability index declined 14 percent over the same period in 2017.

“The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability — which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

---  

Illinois counties with lowest home affordability indexes

CountyQ3 2018 Median Sales PriceQ3 2017 Affordability IndexQ3 2018 Affordability IndexYoY % Change In Affordability Index
Tazewell$133,500 9481-14%
Saint Clair$138,250 9585-11%
Madison$130,000 10188-13%
Winnebago$113,000 10996-12%
Rock Island$110,000 11596-17%
Kane$225,000 10297-5%
Champaign$158,750 11198-12%
Mchenry$215,000 10999-9%
Cook$235,000 106100-6%
Will$214,999 106100-6%
Du Page$280,000 109103-6%
De Kalb$160,000 115109-5%
Lake$248,000 115111-3%
Source: ATTOM Data Solutions

Want to get notified whenever we write about ATTOM Data Solutions ?

Sign-up Next time we write about ATTOM Data Solutions, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

ATTOM Data Solutions

More News

Metro Business Network