Starting March of 2021, the National Association of Realtors (NAR) made Housing Affordability Data available to the St. Louis Fed.

The NAR defines affordable as the degree to which a typical family can afford the monthly mortgage payments on a typical home.

It uses median household income, median home, and mortgage rates as factors in its calculation. Compared to the prior month, the monthly mortgage payment increased by 6.1% while the median family income rose modestly by 0.4%.

Compared to one year ago, affordability declined in February as the monthly mortgage payment increased by 30.4% and median family income rose by 3.6%.