Cleveland Housing Affordability

There are some good in­ter­ac­tive util­i­ties out there for de­ter­min­ing hous­ing af­ford­abil­i­ty based up­on var­i­ous met­rics. The Center for Neighborhood Technology has a Housing + Transportation Affordability Index and the New York Times has a cal­cu­la­tor that de­ter­mines whether it is bet­ter to rent or buy based up­on se­lec­table cri­te­ria. There’s al­so WalkScore, which de­ter­mines the walk­a­bil­i­ty of your res­i­dence to ba­sic needs. My place gets a 68100.

Before the hous­ing dis­as­ter­ba­cle here in Cleveland, af­ford­abil­i­ty based up­on the NYT cal­cu­la­tor would have been giv­ing me re­turns on home-own­er­ship af­ter 3 years. Who knows how that’s changed. The Housing and Transportation vi­su­al for Cleveland ba­si­cal­ly fit what I ex­pect­ed. The poor­er ar­eas with low­er prop­er­ty tax­es fit the cri­te­ria for af­ford­abil­i­ty, while the nicer ar­eas [out­er rings, non-Cleveland-in­cor­po­rat­ed] are over the sug­gest­ed bench­mark. Of course, the map just pro­vides ba­sic da­ta, there isn’t much in­ter­pre­ta­tion go­ing on in terms of sta­tis­ti­cal com­par­isons of oth­er da­ta as­so­ci­at­ed with our area. The ad­vanced menu is a bit more in­for­ma­tive.