Cool Tool: Housing + Transportation Affordability Index

Wednesday, July 09, 2008 | 06:45 AM

Center for Neighborhood Technology has a very cool interactive site going:  Housing + Transportation Affordability Index. It covers 52 metropolitan areas in the US, looking at median income, housing costs for renting and owning, and transportation expenses.

You can look at Rentals, Owned Homes, and Transportation separately or combined:

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click for interactive map
Housing_transportation

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Very cool tool!

Here's their description:

The Housing + Transportation Affordability Index, developed by CNT and its collaborative partners, the Center for Transit Oriented Development (CTOD), is an innovative tool that measures the true affordability of housing. Planners, lenders, and most consumers traditionally measure housing affordability as 30 percent or less of income. The Housing + Transportation Affordability Index, in contrast, takes into account not just the cost of housing, but also the intrinsic value of place, as quantified through transportation costs. Click here to explore how this looks in .

This work is a project of the Brookings Institution's Urban Markets Initiative and is the most comprehensive study-to-date of the Housing + Transportation Affordability Index. The Index completed for the Brookings Institution has been released in two parts. The first phase was released in January 2006 and specifically examines the variables that inform Housing + Transportation costs in St Paul/ Minneapolis, MN. The key to this report is the finding that the three primary dependent variables in the household transportation model are auto ownership, auto use and transit ridership and that the two primary independent variables are residential density and household income.

Wednesday, July 09, 2008 | 06:45 AM | Permalink | Comments (10) | TrackBack (0)
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Comments

This is a fantastic tool. I wish for a couple of things -

1) That they had it for my market,
2) That I could embed it on my blog and website
3) That it was a little bit faster.

My clients (I'm a Realtor) are finally asking questions about costs of transport. My area does not have any public transport to speak of, so we are primarily auto-centric, and this is absolutely affecting the real estate market.

Even homes that are 10 miles from the urban center are beginning to be shunned for other, inferior but "better" located homes.

Posted by: Jim Duncan | Jul 9, 2008 7:15:23 AM

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