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Housing affordability index shows true cost of living

by LINDA BRILL / KING 5 News

KING5.com

Posted on March 25, 2010 at 6:51 PM

SEATTLE - What will it be? Live in the city or in the suburbs?

A new study  shows the true cost of living by including the cost of transportation.

When looking to buy, the old rule of thumb is 30 percent of your income should go to housing. But, a new study tells us to add rising transportation costs to the equation.

Chicago-based Center For Neighborhood Technology has mapped the entire United States for affordability.

The mapping shows that the Seattle/Bellevue/Everett area is less affordable when transportation costs are considered.

"When it comes down to it, living in the city is a lot cheaper than living outside of it," said Roger Valdez of Sightline Institute, a Seattle environmental think tank. "It's gasoline, insurance, driving back and forth, picking up the kids. Those things make it more expensive to live in Issaquah than Seattle."

More info: Center for Neighborhood Technology

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Comments: Displaying 1 - 6 of 6

scott_bellevue said on March 28, 2010 at 9:57 AM

The article seems a little flawed, but the concept is good. First, it should be comparing the proximity of where you live and work, as opposed to focusing on downtown. secondly, you can't assume that because you don't need a car to commute that you don't have one. It's still nearly impossible to function in this society without a car. Lastly, the study should also focus on the amount of time lost to commuting and driving kids around. Time is money, and even if you don't save any money, adding a couple of hours to your day reduces stress and improves the quality of life.

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dltooley said on March 26, 2010 at 3:22 PM

The fundamental idea here merits further attention, factoring transportation costs into your housing decision - but you really can't extend from that individual effect to an entire geographic area via the affordability index. That cost depends on the individual and where they work, not some assumption from a social science researcher. I haven't delved into this study in great detail, but a couple more red flags - Olympia apparently makes the highest level of unaffordability, even though most folks working in Thurston County actually live there and are quite comfortable. Secondly, there's no discussion of the methodology they used to come up with this conclusion. Again, a meritorious concept, apparently abused poltically - and financially as well.

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jamey said on March 26, 2010 at 9:39 AM

Carl, you grew up in T-town didn't you. Used to get picked on at school huh? Tearing it down won't make those bad memorys go away. I'm glad you found home on Capitol hill. You are amoungest friends now.

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siusir said on March 26, 2010 at 6:07 AM

Not a bad idea Carl. There isn't anything in Tacoma that couldn't use a rebuild or a do-over.

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carlconstantine said on March 25, 2010 at 9:14 PM

Whatever you do, don't move to Tacoma. House prices may be lower than in some areas, but you will be sorry if you do. Dogs barking from sun up to sun down and Animal Control will not do anything whatsoever. Tacoma needs to be completely destroyed by a massive earthquake.

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riverman said on March 25, 2010 at 7:59 PM

yeah, it may be less as far as commuting/driving, gasoline, and picking up the kids (that i dont have). but compared to property taxes, and housing costs, seattle is twice as much as issaquah!!! not to mention, try making a casual drive to the grocery store in seattle!!! good luck!!!

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