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NAHB Releases Priced-Out Estimates for 2020

Posted on Feb 7, 2020 in:
  • Housing Affordability
  • Industry Issues
  • Advocacy

February 7, 2020 – To help illustrate the impact of price increases on prospective homebuyers, the National Association of Home Builders (NAHB) annually generates “priced-out” estimates for states and metropolitan areas. NAHB recently released its 2020 report. The data shows how higher home prices—whether due to rising mortgage interest rates, government-imposed fees, regulatory costs, or other factors—impact access to affordable homeownership in our local housing market and statewide.

  • NAHB’s latest report estimates that for every $1,000 increase in the price of home in the Seattle/Bellevue/Tacoma market, 1,161 people are priced out, meaning they no longer quality for a mortgage after the price increase.
  • Statewide, 2,100 people are priced out of the market for every $1,000 increase in home prices.

According to the NAHB report, the median home price in the Seattle market is $618,117, and the income needed to afford that home is $146,365.

Contact Senior Policy Analyst Allison Butcher, 425.460.8223, with any questions.

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