The affordability of housing in Herefordshire
The housing affordability ratio is a widely used measure of the affordability of housing. It is the ratio of lower quartile earnings (that is the point at which 25% of people earn less and 75% of people earn more) to lower quartile house prices (the point at which 25% of housing has sold for less and 75% has sold for more). A number of housing affordability ratio datasets are published. We have used the data published by the Local Government Association.
If this figure gets smaller it means more people on low incomes can afford lower priced housing. This is not a full description of the housing market in Herefordshire but it is an important measure of housing affordability. This figure will go down if low wages increase or house prices fall or both.
Data is available to view or download from Herefordshire's Data Hub