Report: Affordable housing limited in more than half of Conn. towns
Posted: November 19, 2012 Filed under: Housing Leave a comment »
This map, from the Partnership for Strong Communities, illustrates the gap between the state median income, and the income needed to qualify for a mortgage to buy a house at the median price in that city or town (click to make the map bigger)
A new report from the advocacy group Partnership for Strong Communities says Connecticut’s median income in 2011 ($70,705) wasn’t enough to qualify for a mortgage in just over half of the state’s cities and towns (based on the median price in that town). You can hear about the study here:
DK_realestatereport_121114
According to the story, the three least affordable towns — Greenwich, New Canaan and Darien — had median home sale prices over $1 million. Those towns all had median household incomes over $120,000. As we’ve previously reported, Connecticut Governor Dannel Malloy has made a commitment to improve access to affordable housing in the state.
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