Housing
Vacancy - 13.9%
The Green Bay-Wausau, WI Market ranks 33rd in Vacancy across STI Markets with a Vacancy rate of 13.9%. That is 120,318 Vacant Housing units compared to 747,911 Occupied units.
Average Home Value - $344,384
The Average Home Value for owner occupied housing units in the Green Bay-Wausau, WI Market is $344,384. This ranks 88th across STI Markets. Over the last 2 years there has been a change of 17.9% in this markets Average Home Value, compared to a national change of 11.8%. This 2 year change in home values ranks 12th across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Green Bay-Wausau, WI Market is 2.6. The market subsequently ranks 122nd across STI Markets. This is considered to be a Low 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 3.4. The Green Bay-Wausau, WI Market therefore earns the Accessible classification for housing affordability and ranks 90th 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
