One of the simplest estimates of housing affordability is the “median multiple”; that is, the ratio of the median home price to median annual household income. A lower ratio indicates the annual median household income has more purchasing power against the median home price. As of June 2019, only Texas' median multiple is higher than its January 2007 level (Table 3). The Lone Star State, however, registered the lowest ratio in 2007, and it boasts the same today, implying Texas is still relatively the most affordable state in this analysis.
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