{"id":422971,"date":"2024-01-03T11:15:00","date_gmt":"2024-01-03T16:15:00","guid":{"rendered":"https:\/\/www.housingwire.com\/?p=422971"},"modified":"2024-01-03T11:28:06","modified_gmt":"2024-01-03T16:28:06","slug":"datadigest-will-work-for-housing","status":"publish","type":"post","link":"https:\/\/www.housingwire.com\/articles\/datadigest-will-work-for-housing\/","title":{"rendered":"DataDigest: Will work for housing"},"content":{"rendered":"\n

A secondary school teacher in Colorado makes on average just under $63,000, according to the Bureau of Labor Statistics<\/strong>. If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she could afford a house that cost about $225,000.<\/p>\n\n\n\n

That’s a problem when a typical Colorado home – as defined by Zillow<\/strong>‘s Home Value Index – costs more than $528,000.<\/p>\n\n\n\n

When teachers can’t afford to buy homes, school districts can’t hire teachers. As a result, districts across the country, including in Colorado<\/a>, have decided to partner with – or even become – homebuilders and landlords.<\/p>\n\n\n\n

With forecasters not expecting<\/a> home prices to crash anytime soon and essential jobs across the country needing to be filled, will this become a model for the future?<\/p>\n\n\n\n

Housing teachers<\/h2>\n\n\n\n

Aspen is famous for ski slopes and luxury housing. In 2022, the median home was worth about $843,000, and the median renter paid $1,738 per month, according to American Community Survey five-year estimates.<\/p>\n\n\n\n

Like nearly every city in America, affordability worsened during the pandemic.<\/p>\n\n\n\n