What Affects Housing Affordability?

Housing affordability is influenced by several interconnected factors:

1. Interest Rates

Higher rates raise monthly payments, lowering affordability.

2. Home Prices

When demand exceeds supply—as it does in Chester County—prices rise.

3. Income Levels

Wages have not increased at the same speed as home values.

4. Availability of Homes

Low inventory in places like Exton, Downingtown, and Malvern keeps competition strong.

5. Taxes & Insurance

Local taxes can influence affordability significantly.

6. Lending Standards

Stricter lending rules may limit who qualifies for mortgages.

Top 1% Realtor Bela Vora, who has lived in Chester County for over 28 years, helps homebuyers navigate these variables to find realistic options. Her market expertise and strategic planning make the process smoother and less stressful.

For guidance tailored to your financial situation, connect with Bela Vora of Coldwell Banker Realty.