In the United States, an index calculated quarterly by the National Association of Home Builders that compares the median income in a locality with the median home price. The index is stated as the percent of the population with the median income in the area that would be able to afford the median-priced house. For example, in 2000 81% of median-income households in Indianapolis (with a median income of $57,700) would be able to afford the median-priced home (which cost $122,000). In comparison, San Francisco, with a median income of $74,900 and a median house price of $464,000, had a HOI of 10.3%.
For current figures, go to www.nahb.com/facts/hoi/
This index was formerly called the Housing Affordability Index.
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Last revised: 8 November 2003.