Falling home prices and lower interest rates have made homeownership more affordable for Dallas residents,
The Dallas area is 110th in a ranking of the country ‘s most expensive U.S. housing markets in 2008, according to the Center for Housing Policy in a study released Thursday.
That’s a slight improvement from 2007, when Dallas placed 106th.
The median home price in 2008 was $155,000, compared to $183,000 the year before, according to the Center for Housing Policy report.
That meant an average homebuyer in the Dallas area needed 16 percent less income last year to qualify to buy a midprice home, the study found.
Researchers compared median housing costs in more than 200 U.S. metropolitan areas with average wages earned to come up with the ranking.
