Yes. However, it doesn't actually say much about affordability because interest rates drive such a large percentage of costs. A $285,000 mortgage (ignoring ta

Yes. However, it doesn't actually say much about affordability because interest rates drive such a large percentage of costs. A $285,000 mortgage (ignoring taxes+fees) would be $1,126/month at 2.5% APR but $1,618/month at 5.5%. If you use "conventional" lending standards a borrower with a household income of around $39k could qualify at 2.5%, but at 5.5% the income requirement would jump up to around $55k. The ratio drops from around 7.3 to 5.1. https://www.longtermtrends.net/home-price-median-annual-income-ratio/ https://www.longtermtrends.net/home-price-median-annual-inco...