Attom Data Solutions' recent 2022 U.S. Home Affordability Report reveals that housing affordability has worsened across Northwest Arkansas, making it hard for first-time home buyers to navigate the housing market.
- Big budget lines: The national average of a person's paycheck spent on mortgage and housing expenses is 32.3%. Comparatively, the study found Benton County's average was 29% and Washington County's 36%.
- Outpaced: While average wages have increased since last year, they've not matched the pace of rising home prices. In Benton County, wages are up 3%, but the median home price rose 10% last year. In Washington County, wages rose by 9% and home prices by 14%.
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