The report identified markets with nuanced affordability stories. Orlando and Tampa showed higher cost-burden rates despite lower monthly costs, reflecting areas where incomes lag behind housing expenses. Washington, D.C., demonstrated the opposite pattern, with high monthly costs but relatively low burden rates due to elevated local incomes.
“While 2023 data reflected mounting burdens, conditions have since stabilized,” Williamson noted. “Price growth has slowed nationally, and prices have even declined in some markets, particularly those with strong construction, helping to ease cost burdens for new buyers and limiting further tax pressure for existing owners.”
The economist predicted a “slow reset” in housing markets, with local dynamics including home prices, property taxes, insurance costs and supply shaping recovery pace across different regions.
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