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The Surprising Affordability of Some Gateway Cities

The Urban Institute’s HARI measure shows that San Francisco, Seattle and Washington DC, are more affordable for local renters than other measures indicate.

The Urban Institute will be taking space at 500 L’Enfant Plaza when it delivers.

WASHINGTON, DC–The Urban Institute recently developed the housing affordability for renters index (HARI), a measure that examines the 20 most-populous US metropolitan statistical areas. HARI, which the Urban Institute developed in response to what it felt was a critical flaw in housing affordability measurements, found a few surprises about some of these cities, write Laurie Goodman and June Zhu in a blog post.

Namely: San Francisco, Seattle and Washington, DC, are more affordable for local renters than other measures indicate. The index also shows that, nationwide, more than one in four renters have incomes that put homeownership within reach.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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