New Housing + Transportation Affordability Index Website Launches
Update! The Housing + Transportation Affordability Index has received lots of attention around the country. From bloggers to the Washington Post and The Wall Street Journal to other industry professionals, here’s what people are saying.
CNT’s new Housing + Transportation Affordability Index interactive mapping tool has just launched; the new website – http://htaindex.cnt.org – will enable planners, policy-makers, housing and transit advocates, and individuals to calculate the true costs of housing and transportation in cities across the United States.
The result of a two-year study supported by The Brookings Institution’s Urban Market Initiative, the Index is the most comprehensive housing + transit analysis to date. Utilizing United States Census data from 52 metropolitan areas, the Index analyzes data through neighborhood variables (such as household income, transit connectivity, and residential density) to determine auto ownership, transit use, and ultimately the cost of transportation as percent of income.
The traditional vision of housing affordability maintains that housing generally becomes more affordable the farther one ventures from the urban center. However, the study has found that transportation costs increase dramatically in suburban and exurban areas, due to dispersed employment, retail, and other amenities.
CNT President, Scott Bernstein explains, “The index tells an alternative story of affordability than we’ve become accustomed to hearing. The real estate pages may list 2- and 3-bedroom homes for under $175,000 in suburban communities. That sounds affordable, right? But once you factor in transportation costs, the bargain goes away. Transportation costs can be as much or more than housing costs. The index protects consumers by divulging those costs and helps planners and decision-makers work toward providing truly affordable housing.”
Bernstein and CNT Director of Geography, Research and Information, Peter Haas, Ph.D., presented these findings to the press and officially launched the interactive mapping website at the Brookings Institution in Washington, D.C.
Download the Press Release here.
Download the Fact Sheet here.
Download Fact Sheets for eight select cities here.
Use the new H + T interactive mapping website here.
