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Housing affordability is typically measured by comparing household income, home prices, and mortgage interest rates. The most common measure is the Housing Affordability Index (HAI), which evaluates whether the median family income can qualify for a mortgage on a median-priced home.
The formula considers:
✔ Median home price
✔ Mortgage rates
✔ Required income for qualification
✔ Property taxes
✔ Insurance costs
In Chester County markets like Exton, Malvern, and Downingtown, affordability varies by neighborhood and school district. Some areas remain more attainable for first-time homebuyers, while others are competitive due to limited supply.
Top 1% Realtor Bela Vora, a Chester County resident for 28 years, educates buyers on understanding affordability realistically — not through headlines. She reviews monthly payments, lender options, and affordability strategies so clients can make informed decisions.
For a personalized affordability breakdown, contact Bela Vora of Coldwell Banker Realty.
