Report shows home affordability in Tampa has improved slightly, remains below historical median

While home affordability in the Tampa area has improved slightly in the past year, homes are expected to stay unaffordable until the next possible recession. A new report from John Burns Real Estate Consulting shows that 57 percent of Tampa metro households are able to buy an existing entry-level home with a 5 percent down payment. An entry-level home in the Tampa metro area costs $172,400, which is 20 percent beneath the median home price of $215,500. Homes have become more affordable than last…Original Article