What does this measure?

The median home value divided by the median household income.

Why is this important?

This ratio provides a rough estimate of the affordability of homes in a community. A ratio less than 2 or 3 is considered affordable.

How is the Greater Capital Region performing?

The region's housing affordability ratio in 2005-07 was 2.4, which is considered affordable. Owning a home in Albany or Saratoga counties was less affordable, with ratios exceeding 3.0, while Schoharie had the most affordable housing in the region. Counter to the state and nation, where the ratio has been increasing, homes have become more affordable in the Greater Capital Region since 1990, with the ratio declining 18%.

Notes about the data

The 2005-2007 figures are from the Census Bureau's American Community Survey. The bureau combined three years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census. In calculating the ratio, figures were adjusted to 2007 dollars, and regional medians were calculated by weighting the county medians based on share of population. Because of limitations in available data, specified owner-occupied units (single-family homes) were used in 1990 and 2000, while all owner-occupied units were used in 2005-2007.