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Average Person Can't Afford Average House in 10 of 11 CO Counties Analyzed

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Boulder County.
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County: Boulder
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: NO

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $125,194
Annualized Avg Weekly Wages: $64,311
Historic Pct of Wages to Buy: $0.5
Pct of Annualized Wages to Buy: 54.5%
First Quarter 2018 Affordability Index (Under 100 is Less Affordable Than Historic Average): 89
First Quarter 2018 Median Sales Price: $475,000
Year-Over-Year Annualized Wage Growth: 3%
Year-Over-Year Median Home Price Growth: 3%
Year-Over-Year Pct Change In Affordability Index: 0%


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Larimer County.
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County: Larimer
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: NO

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $91,774
Annualized Avg Weekly Wages: $49,842
Historic Pct of Wages to Buy: $0.4
Pct of Annualized Wages to Buy: 51.6%
First Quarter 2018 Affordability Index (Under 100 is Less Affordable Than Historic Average): 85
First Quarter 2018 Median Sales Price: $350,000
Year-Over-Year Annualized Wage Growth: 4%
Year-Over-Year Median Home Price Growth: 9%
Year-Over-Year Pct Change In Affordability Index: -4%


Mesa County.
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County: Mesa
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: NO

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $56,313
Annualized Avg Weekly Wages: $42,003
Historic Pct of Wages to Buy: $0.4
Pct of Annualized Wages to Buy: 37.5%
First Quarter 2018 Affordability Index (Under 100 is Less Affordable Than Historic Average): 99
First Quarter 2018 Median Sales Price: $216,000
Year-Over-Year Annualized Wage Growth: 2%
Year-Over-Year Median Home Price Growth: 11%
Year-Over-Year Pct Change In Affordability Index: -7%


Weld County.
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County: Weld
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: NO

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $79,430
Annualized Avg Weekly Wages: $48,139
Historic Pct of Wages to Buy: $0.4
Pct of Annualized Wages to Buy: 46.2%
First Quarter 2018 Affordability Index* (Under 100 is Less Affordable Than Historic Average): 80
First Quarter 2018 Median Sales Price: $308,000
Year-Over-Year Annualized Wage Growth: 3%
Year-Over-Year Median Home Price Growth: 10%
Year-Over-Year Pct Change In Affordability Index: -5%


El Paso County.
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County: El Paso
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: NO

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $68,366
Annualized Avg Weekly Wages: $48,607
Historic Pct of Wages to Buy: $0.4
Pct of Annualized Wages to Buy: 39.4%
First Quarter 2018 Affordability Index (Under 100 is Less Affordable Than Historic Average): 91
First Quarter 2018 Median Sales Price: $263,000
Year-Over-Year Annualized Wage Growth: 3%
Year-Over-Year Median Home Price Growth: 10%
Year-Over-Year Pct Change In Affordability Index: -6%


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Pueblo County.
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County: Pueblo
State: Colorado
Median Home Price Affordable for Avg Wage Earner?: YES

Annual Income Need to Buy (3% Down and 28% Front-End DTI): $39,771
Annualized Avg Weekly Wages: $41,093
Historic Pct of Wages to Buy: $0.2
Pct of Annualized Wages to Buy: 27.1%
First Quarter 2018 Affordability Index (Under 100 is Less Affordable Than Historic Average): 92
First Quarter 2018 Median Sales Price: $150,000
Year-Over-Year Annualized Wage Growth: 2%
Year-Over-Year Median Home Price Growth: 10%
Year-Over-Year Pct Change In Affordability Index: -7%

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Michael Roberts has written for Westword since October 1990, serving stints as music editor and media columnist. He currently covers everything from breaking news and politics to sports and stories that defy categorization.
Contact: Michael Roberts