Zillow study ranks Portland 90th place of 90 metro areas for homes that are affordable for a construction worker.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Zillow study ranks Portland 90th place of 90 metro areas for homes that are affordable for a construction worker.
The site calculated the median annual salary for a Portland construction worker to be $27,000, while the median home value is $295,600 — $153,600 more than what a construction worker could reasonably afford.
The outlook in Portland isn’t great for teachers, either. A typical teacher making $40,000 can only afford 28.5 percent of listings, the report shows. That’s the fourth-least affordable market in the nation, behind Virginia Beach and the Utah cities of Provo and Salt Lake City.
The most affordable place for a teacher is Bakersfield, California, where a teacher’s median income of $61,000 makes him or her eligible for 86.4 percent of listings. Buffalo came in third place for teachers.
The report comes amid year-over-year increases in home values (9.1 percent) and rent (10.8 percent) in Portland, according to Zillow.
(SOURCE: OregonLive.com)
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