A majority of the Minneapolis-St. Paul metro housing market has become less affordable, according to data composed by ATTOM Data Solutions.  

5 of the 7 counties measured indicate a less affordable market than the historic affordability averages in the 3rd quarter. The affordability index is based on the percentage of average wages needed to make monthly house payments on a median-priced home with a 30-year fixed rate and a 3 percent down payment-including property taxes and insurance.

Anoka County

  • Percent of Average Wages to Buy: 38.9%
  • Q3 2016 Median Sales Price: $215,450
  • YoY Change in Affordability Index: -3%

Washington County

  • Percent of Average Wages to Buy: 42.6%
  • Q3 2016 Median Sales Price: $247,000
  • YoY Change in Affordability Index: -3%

Scott County

  • Percent of Average Wages to Buy: 41.8%
  • Q3 2016 Median Sales Price: $259,900
  • YoY Change in Affordability Index: -2%

Dakota County

  • Percent of Average Wages to Buy: 35.9%
  • Q3 2016 Median Sales Price: $243,800
  • YoY Change in Affordability Index: -1%

Ramsey County

  • Percent of Average Wages to Buy: 25.5%
  • Q3 2016 Median Sales Price: $200,000
  • YoY Change in Affordability Index: -1%

Hennepin County

  • Percent of Average Wages to Buy: 28.0%
  • Q3 2016 Median Sales Price: $244,000
  • YoY Change in Affordability Index: 0%

Wright County

  • Percent of Average Wages to Buy: 38.9%
  • Q3 2016 Median Sales Price: $204,888
  • YoY Change in Affordability Index: 3%

For nationwide analysis click here.