The state is experiencing a housing attainability crisis. We’ve begun using the term attainable because the term affordable has become synonymous with government subsidized housing.
To help state and local policy makers better assess the depth of the problem across the new and existing housing market, The Building Industry Association of Washington State compiled a report that captured the same information on a localized level and included the average of all home sales—new and existing.
BIAW’s national counterpart, the National Association of Home Builders (NAHB) produces an annual priced-out report for new homes. We utilized NAHB’s methodology to identify what percentage of households in each county could afford a mortgage at the current median home sales price in each county. Secondarily, we calculated the number of households that would be priced-out for each additional $1,000 that is added onto the price of a home, in Jefferson that number is 26.
Washington Housing Attainability Crisis report was created by BIAW in May of 2022.