TUCSON, Ariz. (KGUN) — According to the University of Arizona's Eller College of Management, Sierra Vista-Douglas' share of affordable homes was 92.9 %, placing it among the top five most affordable small housing markets in the nation.
They also found Prescott was the least affordable metro in Arizona with only 37.3% of families earning a median income being able to afford a new or existing home in this market.
Data collected reveals the cheapest markets are:
- Davenport-Moline-Rock Island, Iowa-Ill.
- Monroe, Mich.
- Sierra Vista-Douglas, Ariz.
- Fairbanks, Alaska
- Wheeling, W.Va.-Ohio.
The National Association of Home Builders (NAHB) also ranked Arizona's housing market as having one of the highest net population growths, ranking it in the top five across America.
NAHB analysts looked over the past couple of years and predict the states with the highest increase in population by 2030 for those between 20-to-29 years of age will be:
- Idaho (15%)
- Utah (10%)
- Florida (9%)
- Arizona (8%)
- Texas (8%)
"Population growth in the South and Mountain West will drive new-home demand,” said Chief Economist at CoreLogic Frank Nothaft. "The top five metro markets in terms of new home sales during this period were Dallas, Houston, Atlanta, Phoenix and Austin."
Ultimately, the NAHB expects home prices to rise about 5% this year in general.
——-
Caleb Fernández is a digital content producer for KGUN 9. After earning his bachelor's degree from Penn State in Advertising/Public Relations, Caleb went to New York where he learned production assistance, photography and art direction. Share your story ideas and important issues with Caleb by emailing caleb.fernandez@kgun9.com or by connecting on LinkedIn, Instagram, and Twitter.
