HOI Indicates Affordability at All-Time High

The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) rose to 75.9 during the fourth quarter of 2011,  the highest number recorded in the 20-year history of the index.  The HOI is the percentage of homes sold during the quarter affordable to a median-income family, based on standard underwriting criteria.  An HOI of 75.9 means that 75.9 percent of all new and existing homes sold in the fourth quarter were affordable to families earning the national median income of $64,200. 

New home construction, although improving recently, is still at a historically low level, suggesting that factors such as overly restrictive lending conditions remain a significant obstacle.

Youngstown-Warren-Boardman, OH-PA was the most affordable major housing market in the country during the fourth quarter, with 95.1 percent of all homes sold during the quarter were affordable to households earning the area’s median family income of $54,900.

Markets with Population 500K+ that were Most Affordable in 2011:Q4

  1.       Youngstown-Warren-Boardman, OH-PA

  2.       Lakeland-Winter Haven, FL

  2.       Modesto, CA

  4.       Harrisburg-Carlisle, PA

  5.       Toledo, OH

  6.       Akron, OH

  7.       Warren-Troy-Farmington Hills, MI

  8.       Grand Rapids-Wyoming, MI

  8.       Indianapolis-Carmel, IN

10.       Dayton, OH

For more information on the HOI, including complete history and details for every metro area covered, see www.nahb.org/hoi.



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  1. I was once the owner of a flourishing mortgage company and now I am a Charleston South Carolina area home builder and
    real estate agent helping prospective home owners figure out the best way to get in a home. Luckily with my 13 year mortgage background I can expertly help them understand what it takes to get into a home either through buying and existing home or helping them build one. It’s still a little harder to get loans from banks because although the economy has improved the overall health of the bond market and job recovery still aren’t where they need to be.

    It’s unfortunate that the economic crash while painful for some has helped bring down the prices to more affordable levels for others.

    Real Estate ProJames Schiller
    Owner, Precision Construction
    Charleston SC’s premier construction contractors

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