Analysis: Home affordability in Polk County tanks


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

The county scored a 90 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 Polk County costs $185,000.

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 13 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.

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Iowa counties with lowest home affordability indexes

CountyQ3 2018 Median Sales PriceQ3 2017 Affordability IndexQ3 2018 Affordability IndexYoY % Change In Affordability Index
Polk$185,000 10490-13%
Woodbury$122,500 9990-9%
Linn$155,800 11095-14%
Source: ATTOM Data Solutions

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