Analysis: Home affordability in Polk County tanks

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

The county scored a 83 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 $180,000.

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 15 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.


Florida counties with lowest home affordability indexes

CountyQ3 2018 Median Sales PriceQ3 2017 Affordability IndexQ3 2018 Affordability IndexYoY % Change In Affordability Index
Polk$180,000 9883-15%
Santa Rosa$229,550 9384-10%
Flagler$218,000 9484-11%
Saint Lucie$199,900 9384-10%
Citrus$146,500 9284-9%
Orange$241,000 9685-11%
Indian River$216,000 10485-18%
Pinellas$214,000 9885-13%
Martin$274,450 9686-10%
Osceola$215,000 10186-15%
Lake$215,000 9786-11%
Brevard$196,700 9686-10%
Charlotte$188,000 9686-10%
Lee$217,500 9487-7%
Miami-Dade$299,000 9988-11%
Hillsborough$216,000 9988-11%
Volusia$189,900 9988-11%
Duval$175,000 9788-9%
Hernando$160,000 10088-12%
Broward$250,000 9589-6%
Pasco$160,950 9389-4%
Marion$141,000 9889-9%
Seminole$242,500 10091-9%
Escambia$155,000 10091-9%
Manatee$265,000 10492-12%
Sumter$247,857 10594-10%
Sarasota$240,000 9994-5%
Bay$220,000 11095-14%
Clay$200,000 10295-7%
Palm Beach$253,000 10296-6%
Okaloosa$224,900 11597-16%
Saint Johns$300,000 10698-8%
Collier$319,950 108101-6%
Alachua$177,400 112102-9%
Leon$175,000 114103-10%
Source: ATTOM Data Solutions

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