New analysis from SmartAsset looks at historically affordable metros that may soon fall financially out of reach for residents.
The study found that rising prices are the norm in affordable cities. Of the 56 housing markets analyzed, 43 saw home prices rising. The Dallas metro area stood out, with three local cities in SmartAssets top ten for rising prices. Though Texas cities like Irving, Garland, and Dallas itself haven’t priced residents out yet, it could be coming: Between 2016 and 2017 the average home price in Garland went from 2.4 to 2.8 times the average household income, an increase of 17.4 percent.
Other cities to watch for unaffordability in the coming years include North Las Vegas, Nev., Philadelphia, Jacksonville, Fla., and Nashville, Tenn.
PB Topical Ref
