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2009-05-11 08:41:20
Seattle moved from being the 24th most expensive wigs place to buy a home in 2007 to 13th last year, thanks to the fact that local home prices had not fallen nearly as much as those in many other expensive markets. That's according to "Paycheck to Paycheck: Wages and the Cost of Housing in America," a study by the Center for Housing Policy of more than 200 metropolitan areas.
The study showed the median home price in King, Pierce and Snohomish counties at $335,000 in the fourth quarter of last year, down from $380,000 in the third quarter 2007, which the center used for its previous study.
Seattle was the 52nd most expensive market for renters, up from 60th in 2007, according to the study. It showed the U.S. Department of Housing and Urban Development's fair wigs market rent for a two-bedroom apartment at $987 a month, up from $854 in 2007.
The study also compares home prices and rents with wages in 60 occupations, noting that many of the jobs the federal stimulus package is creating do not pay enough to afford a home.
