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Median multiple United States average  Median house price (left) House price to income ratio (right) Median household income (left) The Median multiple or Median house price to income ratio is a housing indicator used to indicate the affordability of housing in any given community.[1] The Median house price to income ratio was the primary indicator H1 of the 1991 World Bank/UNCHS Housing Indicator system.[2][3] It was subsequently used as a measure of affordability by the UN Commission for Sustainable Development, the National Association of Realtors, State of the Environment 2003 Tasmania, and the Mortgage Guide UK.[4] The indicator has been popularised by Demographia International, and was called the 'Median multiple' from their second comparative international survey in 2006.[5] The median multiple is the ratio of the median house price by the median gross (before tax) annual household income. This measure has historically hovered around a value of 3 or less, but in recent years has risen dramatically, especially in markets with public policy constraints on land and development.[6] Housing Affordability RatingThe 2024 Demographia International Housing Affordability report uses the following affordability categories based on the median multiple for a given market:[7]
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