Metro Affordability & Homebuilding Report Card<\/a> compared the 100 largest metropolitan areas in the U.S. based on two scores that measured the most important factors for potential home buyers: an “Affordability Components” score that examined the current affordability of housing for residents, and a “Homebuilding Components” score that analyzed the rate of new home construction to meet future demand. Both scores were then used to calculate the final score and assigned a letter grade.<\/p>\nOnly 10 total U.S. metros, including Houston (No. 4) and Austin (No. 6), received grades in the “A” range \u2014 A+, A, A- \u2014 representing the most balanced locales for “favorable current affordability conditions and healthy future inventory growth to sustain them.” <\/p>\n
“Homebuilding and affordability are inseparable, and if we want to improve affordability in a lasting way, we need to build more homes,” said Realtor.com chief economist Danielle Hale. “The metros at the top of these rankings show that buyers benefit most when communities pair homes that are attainable for today’s local earners with enough new construction to support tomorrow’s demand.”<\/p>\n
Only two metros earned “A+” grades with a total score of 77.5 or higher: De Moines-West DeMoines, Idaho (83.4 points) and Raleigh-Cary, North Carolina (82.8 points).<\/p>\n
San Antonio was rated “C+” overall with total score of 59.1 points, an “Affordability Components” score of 62.2 points and a “Homebuying Components” score of 56 points. The city ranks 35th in the national ranking of the best metros for affordability and housing.<\/p>\n
McAllen-Edinburg-Mission also earned the same rating as San Antonio, as did four more U.S. metros: Pittsburgh, Pennsylvania; Cincinnati, Ohio-Kentucky-Indiana; Deltona-Daytona Beach, Florida; and St. Louis, Missouri-Illinois.<\/p>\n
Realtor.com’s report said San Antonio-New Braunfels has a median household income of $73,281, and home listings have a median price of $331,705. The report’s findings also show that newly built homes in the region cost 4.5 percent more than existing homes on the market.<\/p>\n
San Antonio has a 0.85 housing permit-to population ratio, meaning the metro is building less than the national average of homes per resident. The report suggests “supply-side price relief is not likely to be felt by buyers” in the region unless there’s a sharp increase in new construction permits soon.<\/p>\n
San Antonio’s “Realtors Affordability Score,” or the share of for-sale inventory affordable to households at different income levels, is 0.666, not far off from the national average of 0.675.<\/p>\n
Housing market grades across other Texas metros
Houston and Austin were the only two Texas metros to earn a grade in the “A” range. <\/p>\n
Houston outperformed every Texas metro for housing and affordability with its solid “A” rating. Newly built homes in the Houston area cost about 7 percent more than existing homes on the market, and the metro has a 1.88 housing permit-to population ratio, meaning the metro permits 88 percent more new homes than what would be considered typical based on its population and national average construction levels.<\/p>\n
Austin earned an “A-” with a combined score of 72.5 points. Unlike many other U.S. metros, newly built homes in the Austin area are actually more affordable than existing homes on the market. Austin has a negative new construction premium, where new build homes are 6 percent cheaper than existing ones.<\/p>\n
The Austin metro also has a permit-to-population ratio of 2.37. Combined with the negative new construction premium, these factors signal that “builders are delivering homes at a rate well above the metro’s population share \u2014 and at prices slightly below existing homes.”<\/p>\n
This is a snapshot of the factors that impacted Austin’s grade:<\/p>\n
Realtors Affordability Score: 0.639Median listing price: $501,200Median household income: $102,412<\/p>\n
Elsewhere in Texas, Dallas-Fort Worth was given a “B+” rating, while El Paso’s housing market performance was only worthy of a “D” grade.<\/p>\n
The top 10 U.S. metros with the highest-performing housing markets are:<\/p>\n
No. 1 \u2013 Des Moines-West Des moines, Idaho (A+)No. 2 \u2013 Raleigh-Cary, North Carolina (A+)No. 3 \u2013 Columbia, South Carolina (A)No. 4 \u2013 Houston, Texas (A)No. 5 \u2013 Indianapolis, Indiana (A)No. 6 \u2013 Austin-Round Rock-San Marcos, Texas (A-)No. 7 \u2013 Jacksonville, Florida (A-)No. 8 \u2013 Oklahoma City, Oklahoma (A-)No. 9 \u2013 Palm Bay-Melbourne, Florida (A-)No. 10 \u2013 Columbus, Ohio (A-)<\/p>\n","protected":false},"excerpt":{"rendered":"A new national real estate report card has given San Antonio a barely passing grade for housing demand…\n","protected":false},"author":2,"featured_media":445191,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3222,6358,111,17173,82,84,83],"class_list":["post-445190","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-antonio","tag-housing","tag-housing-market","tag-real-estate","tag-realtor-com","tag-san-antonio","tag-san-antonio-headlines","tag-san-antonio-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/445190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=445190"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/445190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/445191"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=445190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=445190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=445190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}