Dupage Policy Journal

DuPage County posted the 10th lowest home affordability index in Illinois, according to an analysis of 432 counties nationwide by ATTOM Data Solutions in the second quarter.

The county’s affordability index was 110 in the analysis, which found that home prices around the country have hit their lowest level of affordability in a decade.

The report determines the affordability number based on the household income needed to purchase a median-priced home in the county compared to historical data. An index under 100 indicates declining affordability.

In DuPage County, a median home costs $273,000. 

“Slowing home price appreciation in the second quarter was not enough to counteract an 11 percent increase in (national) mortgage rates compared to a year ago, resulting in the worst home affordability we’ve seen in nearly 10 years,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. 

Illinois counties with lowest home affordability indexes

County	Q2 2018 Median Sales Price	Annual Income Needed to Buy (3% Down and 28% Front-End DTI)	Annualized Weekly Wages	Pct of Annualized Wages to Buy	Historic  Pct of Wages to Buy	Q2 2018 Affordability Index
Tazewell	$124,900	$40,784	$52,000	22.0%	20.2%	92
Saint Clair	$125,000	$40,169	$42,523	26.5%	24.6%	93
Kendall	$215,000	$72,115	$39,728	50.8%	48.0%	94
Madison	$116,500	$35,887	$42,263	23.8%	23.8%	100
Kane	$220,000	$75,029	$48,607	43.2%	44.7%	103
Peoria	$124,000	$39,682	$53,261	20.9%	22.0%	105
McHenry	$210,000	$69,244	$44,512	43.6%	47.1%	108
DeKalb	$162,500	$56,933	$41,808	38.1%	41.9%	110
Winnebago	$103,000	$36,631	$46,241	22.2%	24.4%	110
DuPage	$273,000	$87,535	$62,712	39.1%	43.1%	110
Lake	$248,000	$83,629	$73,112	32.0%	36.8%	115
Cook	$235,000	$71,036	$64,792	30.7%	35.8%	117
Rock Island	$104,000	$32,200	$56,888	15.8%	18.7%	118
Champaign	$143,250	$46,631	$46,709	28.0%	33.2%	119
Will	$214,000	$63,336	$46,956	37.8%	47.0%	124

Source: ATTOM Data Solutions