Federal Reserve Economist, Dr. Laura Ullrich, shared the following at the Lowcountry Affordable Housing Symposium:
Using the Federal Reserve Bank of Atlanta’s Home Ownership Affordability Monitor Tool, the data shows that a median income household has not been able to buy a median priced home in the Hilton Head MSA in the last 21 years, without spending more than 30% of their income.
This statistic is shocking and reiterates the necessity of a comprehensive solution to this very complicated issue.
