The gap between the typical salary of a homebuyer in Lafayette Parish and the annual income needed to own a home widened in favor of the buyer in the third quarter.
Wages slightly outpaced the growth among typical real estate prices in the third quarter, according to data released by real estate research firm ATTOM Data Solutions in its Home Affordability Report.
Yet the cost of a home is still higher than the historic average in Lafayette Parish, much like nearly every other place in the U.S. Owning a home now requires 25.5% of a buyer’s annual salary, which is down from 26% a year ago but higher than the 20.5% historic average…