Boasting relatively high incomes and low home prices, the Sierra Vista-Douglas area was ranked as the third most affordable housing market in the United States in a national Housing Opportunity Index released in November.
According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, 92.9 percent of the homes sold in the third quarter of 2021 in the Sierra Vista-Douglas metropolitan statistical area were affordable to families earning the area’s median income of $66,900. That ranked Sierra Vista area the third most affordable housing market in the U.S., outpacing all major markets and placing behind just two other small housing markets, which have a population of 500,000 or less.
“It’s no secret to us that the Sierra Vista area offers an awesome value for homebuyers seeking to enjoy a high quality of life without busting their budget, especially when compared to other areas in Arizona” City of Sierra Vista Economic Development Manager Tony Boone says.
The index ranks the Sierra Vista area as the most affordable housing market in its region and as the only area in Arizona in the top 50 percent of the list, which includes 238 areas nationwide. The next most affordable markets in Arizona are Yuma and Tucson at spots 125 and 126 respectively. Just shy of 65 percent of the homes sold in these areas were considered affordable to families earning a median income.
“We’ve worked hard to elevate Sierra Vista’s reputation, make long-sought improvements, and bring in new visitors in recent years,” Boone says. “Double digit local sales tax growth and a hot home market show that these efforts are paying off and more eyes are turning to our extraordinary corner of Arizona.”
For more information on the National Association of Home Builders/Wells Fargo Housing Opportunity Index, go to www.nahb.org/news-and-economics/housing-economics/indices/housing-opportunity-index.