A new study contends that only 39 percent of U.S. communities are affordable for typical households when the cost of transportation is included in the calculation of housing costs.
The Center for Neighborhood Technology analyzed the Housing + Transportation Affordability Index, which examined 161,000 neighborhoods housing 80 percent of the U.S. population, and concluded that for most families, transportation is the second-largest household expense.
It is also a fairly unmanageable one, the study concluded, because it is difficult for families to estimate the full cost of a location before they move there. Gas prices and employment demands aren’t very predictable for many.
Factors that can help people control transportation costs include walkable neighborhood streets, access to public transit, and nearby retail.
Source: Center for Neighborhood Technology (03/23/2010)
Emily Lee
606-499-7836
Realty Group II
423-869-5111
