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Home price affordability for area residents

Description: The price-to-income ratio is the ratio of a town's median non-vacation home price to the county's median household income. The "Affordability limit" is the price-to-income ratio when it takes exactly 30 percent of a household's income to cover monthly housing payments, assuming 5% down payment, and average interest rates, insurance premiums, taxes and closing costs. Towns with median prices above this limit are likely to be largely unaffordable for the average county resident looking to buy a home. 
Note: Towns with very few homes tend to have few home sales. This can skew median home sale prices, resulting in extremely high or low price to income ratios that may not accurately reflect real market conditions.