Housing
Vacancy - 6.2%
The Dallas-Fort Worth-Arlington, TX Market ranks 155th in Vacancy across STI Markets with a Vacancy rate of 6.2%. That is 204,065 Vacant Housing units compared to 3,093,854 Occupied units.
Average Home Value - $493,344
The Average Home Value for owner occupied housing units in the Dallas-Fort Worth-Arlington, TX Market is $493,344. This ranks 41st across STI Markets. Over the last 2 years there has been a change of 6% in this markets Average Home Value, compared to a national change of 11.8%. This 2 year change in home values ranks 154th across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Moderate
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Dallas-Fort Worth-Arlington, TX Market is 3.1. The market subsequently ranks 66th across STI Markets. This is considered to be a Moderate level of mortgage risk.
Affordability Level - Accessible
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 3.7. The Dallas-Fort Worth-Arlington, TX Market therefore earns the Accessible classification for housing affordability and ranks 74th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
