{"id":76643,"date":"2023-08-14T03:00:51","date_gmt":"2023-08-14T10:00:51","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=76643"},"modified":"2023-08-31T13:49:54","modified_gmt":"2023-08-31T20:49:54","slug":"home-price-premium-high-opportunity-neighborhoods","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/home-price-premium-high-opportunity-neighborhoods\/","title":{"rendered":"The Price of Opportunity: Homes Cost 38% More in Neighborhoods That Offer the Best Shot at Upward Mobility"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">The typical home purchased in high-opportunity U.S. neighborhoods went for $470,000 last year\u2014$130,000 more than the typical home in low-opportunity areas.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">The price premium for opportunity is highest in segregated parts of the Midwest and South; in Detroit, homes in high-opportunity areas are nearly four times more expensive than those in low-opportunity areas.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">High-opportunity neighborhoods often have highly-rated schools and low levels of crime\u2014and are disproportionately white.<\/span><\/i><\/h3>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><i><span style=\"font-weight: 400;\">Offering customized home-search assistance can help low-income families move into high-opportunity areas, research shows.<\/span><\/i><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The typical home that sold in a high-opportunity U.S. neighborhood in 2022 went for $470,000, or 38.2% more than the typical home that sold in a low-opportunity neighborhood, which went for $340,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s according to a Redfin analysis of home sales in 100 of the most populous U.S. metropolitan areas. We sorted each neighborhood into one of three tiers\u2014low opportunity, intermediate opportunity and high opportunity. A<\/span><span style=\"font-weight: 400;\"> high-opportunity neighborhood is defined as one where children who grew up in low-earning households went on to become higher earning adults than the typical person who grew up in their metro at the same time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">People in high-opportunity neighborhoods are more likely than those in low-opportunity neighborhoods to live among highly rated schools, professional networking opportunities, large numbers of college graduates and low rates of poverty and crime. High-opportunity neighborhoods also have larger concentrations of two-parent households, along with high levels of income inequality and segregation\u2014meaning they tend to skew wealthy and white. <\/span><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/opportunityinsights.org\/wp-content\/uploads\/2018\/10\/atlas_paper.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">methodology<\/span><\/a><span style=\"font-weight: 400;\"> Redfin uses to measure opportunity was developed by Harvard University researcher <\/span><a href=\"https:\/\/economics.harvard.edu\/people\/raj-chetty\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Raj Chetty<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s prohibitively expensive for many families\u2014particularly those of color\u2014to access the neighborhoods that offer children the best shot at financial success,\u201d said Redfin Deputy Chief Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/taylormarr\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Taylor Marr<\/span><\/a><span style=\"font-weight: 400;\">. \u201cWhere you grow up lays the groundwork for your future. Kids raised in low-opportunity neighborhoods have a lower chance of getting a good education and well-paying job, <\/span><a href=\"https:\/\/www.nytimes.com\/interactive\/2022\/08\/01\/upshot\/rich-poor-friendships.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">growing<\/span><\/a><span style=\"font-weight: 400;\"> a robust professional network, building wealth through home equity and staying out of harm\u2019s way. That can perpetuate a cycle of segregation and wealth inequality that can last for generations, with their children and grandchildren often grappling with the same disadvantages.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-76644\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Price-Premiums.png\" alt=\"\" width=\"1000\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Price-Premiums.png 1000w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Price-Premiums-300x240.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Price-Premiums-768x614.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The price premium of high-opportunity neighborhoods has shrunk over time, but that\u2019s not because these areas have become more affordable. It\u2019s because many <\/span><i><span style=\"font-weight: 400;\">low-opportunity <\/span><\/i><span style=\"font-weight: 400;\">neighborhoods have gentrified and become <\/span><i><span style=\"font-weight: 400;\">less<\/span><\/i><span style=\"font-weight: 400;\"> affordable.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Data Summary<\/span><\/h3>\n<p><i><span style=\"font-weight: 400;\">All data represents 2022 unless otherwise noted<\/span><\/i><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>High-opportunity neighborhoods<\/b><\/td>\n<td><b>Intermediate-opportunity neighborhoods<\/b><\/td>\n<td><b>Low-opportunity neighborhoods<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Median sale price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$470,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$389,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$340,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Median sale price increase since 2012<\/b><\/td>\n<td><span style=\"font-weight: 400;\">100%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">136%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">174%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Median monthly mortgage payment<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$3,359<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,763<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$2,387<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Median household income (2021)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$107,907<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$87,485<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$71,462<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of total for-sale homes<\/b><\/td>\n<td><span style=\"font-weight: 400;\">39.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of for-sale homes affordable* on median income<\/b><\/td>\n<td><span style=\"font-weight: 400;\">13%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of for-sale homes affordable* on median Black household income<\/b><\/td>\n<td><span style=\"font-weight: 400;\">4.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of for-sale homes affordable* on median white household income<\/b><\/td>\n<td><span style=\"font-weight: 400;\">19.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of for-sale homes affordable* on median Hispanic household income<\/b><\/td>\n<td><span style=\"font-weight: 400;\">7.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">13.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of for-sale homes affordable* on median Asian household income<\/b><\/td>\n<td><span style=\"font-weight: 400;\">25.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">44.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of population that\u2019s nonwhite (2021)<\/b><\/td>\n<td><span style=\"font-weight: 400;\">35.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">43.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">61.4%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i><span style=\"font-weight: 400;\">*We define an affordable home as one where the monthly mortgage payment would not exceed 30% of household income. We assume a 5% down payment and the average 30-year-fixed mortgage rate during the month the home was listed for sale.<\/span><\/i><\/p>\n<h3><span style=\"font-weight: 400;\">High-Opportunity Neighborhoods Have More Homes for Sale, But Those Homes Are Less Affordable\u2014Especially for Families of Color\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The good news is the lion\u2019s share (39.5%) of U.S. homes for sale are in high-opportunity neighborhoods. The bad news is high-opportunity neighborhoods are rarely affordable. Just 13% of homes for sale in high-opportunity neighborhoods last year were affordable on their metro area\u2019s median income, compared with 31.7% in low-opportunity neighborhoods. Affordability has fallen across the board due to surging home prices; the median sale price in high-opportunity neighborhoods has grown 100% since 2012, while the median sale price in low-opportunity neighborhoods has jumped 174%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">White families have an easier time gaining access to these areas than many families of color. Just 4.2% of homes for sale in high-opportunity neighborhoods were affordable for the typical Black household in 2022. The share was nearly five times higher (19.1%) for the typical white household.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On average, just over one-third (35.2%) of residents in the high-opportunity neighborhoods Redfin analyzed are nonwhite, compared with nearly two-thirds (61.4%) in low-opportunity neighborhoods.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">The Price Premium for Opportunity Is Highest in Segregated Midwestern and Southern Metros<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/www.redfin.com\/city\/5665\/MI\/Detroit\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Detroit<\/span><\/a><span style=\"font-weight: 400;\">, the median home sale price in high-opportunity neighborhoods was $240,000 in 2022. That\u2019s 269% higher than the $65,00 median sale price in Detroit\u2019s low-opportunity neighborhoods\u2014the largest premium of the metros Redfin analyzed. Next came <\/span><a href=\"https:\/\/www.redfin.com\/city\/12260\/TN\/Memphis\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Memphis, TN<\/span><\/a><span style=\"font-weight: 400;\">, where high-opportunity neighborhoods held a 187% premium. Rounding out the top five are <\/span><a href=\"https:\/\/www.redfin.com\/city\/244\/OH\/Akron\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Akron, OH<\/span><\/a><span style=\"font-weight: 400;\"> (169%), <\/span><a href=\"https:\/\/www.redfin.com\/city\/35759\/WI\/Milwaukee\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Milwaukee<\/span><\/a><span style=\"font-weight: 400;\"> (149%) and <\/span><a href=\"https:\/\/www.redfin.com\/city\/1823\/AL\/Birmingham\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Birmingham, AL<\/span><\/a><span style=\"font-weight: 400;\"> (143%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many of the metros where high-opportunity neighborhoods carry hefty home-price premiums grapple with relatively high levels of segregation. Milwaukee and Detroit both <\/span><a href=\"https:\/\/belonging.berkeley.edu\/most-least-segregated-metro-regions-2020\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">rank<\/span><\/a><span style=\"font-weight: 400;\"> among the five most segregated metros based on 2020 Census data; Memphis and Birmingham are also near the top of the list.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe barriers to entry in high-opportunity neighborhoods often ensure that the same families continue to have the best shot at upward economic mobility generation after generation,\u201d Marr said.<\/span><\/p>\n<p><a href=\"https:\/\/www.redfin.com\/city\/30749\/NY\/New-York\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">New York<\/span><\/a><span style=\"font-weight: 400;\"> was the only metro where it was <\/span><i><span style=\"font-weight: 400;\">less <\/span><\/i><span style=\"font-weight: 400;\">expensive (by 6.7%) to live in a high-opportunity neighborhood. The median sale price of high-opportunity neighborhoods in New York was $695,000, compared with $745,000 in low-opportunity neighborhoods. For a table with the full metro-level breakdown, scroll to the bottom of this report.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">In Detroit, High-Opportunity Neighborhoods Are Nearly Four Times More Expensive and Predominantly White<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Detroit\u2019s high-opportunity neighborhoods overlap with the metro\u2019s predominantly white, suburban areas, while low-opportunity neighborhoods overlap with predominantly nonwhite parts of the urban core. <img decoding=\"async\" class=\"alignnone size-large wp-image-76645\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Maps-1024x652.png\" alt=\"\" width=\"1024\" height=\"652\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Maps-1024x652.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Maps-300x191.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Maps-768x489.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/08\/Opportunity-Maps.png 1100w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/span><\/p>\n<p><a href=\"https:\/\/www.redfin.com\/city\/16683\/MI\/Plymouth\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Plymouth<\/span><\/a><span style=\"font-weight: 400;\">, a city of about 10,000 located a short drive west of Detroit, is one example of a high-opportunity neighborhood in the Detroit metro area.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cPlymouth screams suburbia. It has a quaint little downtown, cute restaurants and coffee shops, highly-rated high schools and an ice-sculpture festival every winter,\u201d said <\/span><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/kate-mcneill\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Kate McNeill<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">Redfin\u2019s market manager in Detroit. \u201cIt stands in contrast to some neighborhoods closer to downtown, where there has been less development despite increasing home prices in recent years.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">McNeill <\/span><span style=\"font-weight: 400;\">continued: \u201cTake <\/span><a href=\"https:\/\/www.redfin.com\/city\/9694\/MI\/Highland-Park\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Highland Park<\/span><\/a><span style=\"font-weight: 400;\">, a majority Black area that has seen its population decline by <\/span><a href=\"https:\/\/www.freep.com\/story\/news\/local\/michigan\/wayne\/2021\/08\/30\/highland-park-hamtramck-census-population\/8181137002\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">24%<\/span><\/a><span style=\"font-weight: 400;\"> in the past decade or so. Much of that is due to disinvestment and a lack of city services. When you walk around Highland Park, many homes have been <\/span><a href=\"https:\/\/www.redfin.com\/MI\/Highland-Park\/41-Richton-St-48203\/home\/98679390\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">boarded up<\/span><\/a><span style=\"font-weight: 400;\"> and abandoned.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Detroit\u2019s housing market, like that of many U.S. cities, has a history of racial discrimination. In the 1930s, the federally sponsored policy known as redlining effectively barred many nonwhite residents from obtaining mortgages and purchasing homes. Racial covenants also prevented people who weren\u2019t white from moving into many areas. In northwest Detroit, developers built a six-foot-high <\/span><a href=\"https:\/\/www.nbcnews.com\/specials\/detroit-segregation-wall\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">wall<\/span><\/a><span style=\"font-weight: 400;\"> to separate a white neighborhood from a Black neighborhood. It still stands today as a <\/span><a href=\"https:\/\/www.fox2detroit.com\/news\/detroit-eight-mile-wall-once-used-to-segregate-blacks-and-whites-gets-historical-dedication\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">historical marker<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While discrimination in the housing market was <\/span><a href=\"https:\/\/www.hud.gov\/program_offices\/fair_housing_equal_opp\/aboutfheo\/history\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">outlawed<\/span><\/a><span style=\"font-weight: 400;\"> in the 1960s, segregation and racial bias continued to flourish. In 1967, violent riots over police abuse and discrimination <\/span><a href=\"https:\/\/www.smithsonianmag.com\/history\/understanding-detroits-1967-upheaval-50-years-later-180964212\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">broke out<\/span><\/a><span style=\"font-weight: 400;\"> between Detroit\u2019s Black community and the local police department. Scores of the city\u2019s white residents subsequently left for the suburbs in an exodus commonly known as \u201cwhite flight.\u201d In the years to follow, much of the investment money in the Detroit area flowed into white neighborhoods. Many Black residents continue to have trouble accessing home loans, in part because lenders often <\/span><a href=\"https:\/\/www.wsj.com\/articles\/a-broken-mortgage-market-strands-detroits-black-residents-11603984218\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">prioritize<\/span><\/a><span style=\"font-weight: 400;\"> high-priced areas. Black people represent about <\/span><a href=\"https:\/\/www.wsj.com\/articles\/a-broken-mortgage-market-strands-detroits-black-residents-11603984218\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">80%<\/span><\/a><span style=\"font-weight: 400;\"> of the population, but get 51% of Detroit\u2019s mortgages, according to a 2020 <\/span><a href=\"https:\/\/www.wsj.com\/articles\/a-broken-mortgage-market-strands-detroits-black-residents-11603984218\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">article<\/span><\/a><span style=\"font-weight: 400;\"> from the Wall Street Journal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A <\/span><span style=\"font-weight: 400;\">consortium of nonprofits in 2021 <\/span><a href=\"https:\/\/www.freep.com\/story\/news\/local\/michigan\/detroit\/2021\/05\/07\/nonprofits-create-network-boost-housing-stability-detroit\/4969941001\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">joined<\/span><\/a><span style=\"font-weight: 400;\"> forces to build more resources for Detroit homeowners, including foreclosure prevention, financial counseling, and assistance for low-income families that want to achieve homeownership. And in 2020,<\/span><span style=\"font-weight: 400;\"> Detroit announced a $48 million fund to create affordable housing. The first project was <\/span><a href=\"https:\/\/detroitmi.gov\/news\/mayor-duggan-lisc-detroit-celebrate-1st-affordable-housing-project-completed-through-detroit-housing\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">completed<\/span><\/a><span style=\"font-weight: 400;\"> last year.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Opportunities for Change: Provide Home-Search Assistance, Subsidize Affordable Housing and Reform Zoning Laws<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While low-income families are often concentrated in low-opportunity neighborhoods, <\/span><a href=\"https:\/\/opportunityinsights.org\/wp-content\/uploads\/2019\/08\/cmto_paper.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">research<\/span><\/a><span style=\"font-weight: 400;\"> has shown this is rarely a function of choice. Oftentimes, they end up in low-opportunity areas because there are barriers in the home-search process that prevent them from moving to a high-opportunity neighborhood. A 2020 study of housing-voucher recipients in Washington State found just that:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMany families reported that they had limited time and resources to search for housing, as they were facing challenges such as domestic violence, mental health conditions, or holding multiple jobs while caring for children as single parents,\u201d wrote the researchers, led by Columbia University\u2019s Peter Bergman and Raj Chetty. \u201cRedesigning affordable housing policies to provide customized assistance in housing search could reduce residential segregation and increase upward mobility substantially.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the study, low-income housing-voucher recipients in Washington\u2019s King County (which includes Seattle) were offered services including customized rental search assistance, landlord engagement and short-term financial assistance. They could choose to use their housing voucher in any neighborhood within the housing authority\u2019s jurisdiction. Of the families who received the aforementioned services, 53% chose to lease units in high-opportunity neighborhoods, compared with just 15% of families who did not receive the services.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These strategies used to help renters in Seattle could also be employed to help first-time buyers everywhere navigate the home-search process, Redfin\u2019s Marr said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201d<\/span><span style=\"font-weight: 400;\">Local leaders should seek to remove barriers that prevent low-income families from moving into high-opportunity neighborhoods, while also investing in low-opportunity neighborhoods,\u201d Marr said. \u201cIn addition to offering assistance during the home-search process, governments can invest more in public schools in low-opportunity neighborhoods, offer affordable housing subsidies and reform zoning laws to allow for more housing in high-opportunity neighborhoods.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Metro-Level Summary: 2022<\/span><\/h3>\n<p><i><span style=\"font-weight: 400;\">The table below includes the 100 most populous U.S. metro areas for which there was sufficient data.<\/span><\/i><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>U.S. Metro Area<\/b><\/td>\n<td><b>Median Sale Price: Low-Opportunity Neighborhoods<\/b><\/td>\n<td><b>Median Sale Price: High-Opportunity Neighborhoods<\/b><\/td>\n<td><b>Price Premium of High-Opportunity Neighborhoods<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Akron, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$104,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$280,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">169.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Albany, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$212,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$318,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">50.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Albuquerque, NM<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$269,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$355,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">32.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Allentown, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$210,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$359,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">71.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$850,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,200,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$310,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$466,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">50.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$465,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$575,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Bakersfield, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$277,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$405,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$222,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$450,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">102.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baton Rouge, LA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$198,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$286,123<\/span><\/td>\n<td><span style=\"font-weight: 400;\">44.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Birmingham, AL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$145,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$352,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">143.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boise City, ID<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$434,900<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$570,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$564,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$770,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">36.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Bridgeport, CT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$390,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$790,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">102.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Buffalo, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$148,750<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$285,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">91.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Camden, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$245,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$372,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">52.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cape Coral, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$324,250<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$499,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">53.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charleston, SC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$415,300<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$490,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$320,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$455,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$265,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$358,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$203,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$315,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">55.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$120,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$275,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">129.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Colorado Springs, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$380,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$557,013<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbia, SC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$245,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$295,100<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$205,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$390,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">90.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$318,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$519,900<\/span><\/td>\n<td><span style=\"font-weight: 400;\">63.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dayton, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$120,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$254,400<\/span><\/td>\n<td><span style=\"font-weight: 400;\">112.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$550,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$650,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Des Moines, IA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$185,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$310,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">67.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$65,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$240,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">269.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">El Paso, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$228,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$239,350<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Elgin, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$232,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$369,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">59.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Lauderdale, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$348,650<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$540,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Worth, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$300,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$406,588<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Frederick, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$450,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$689,950<\/span><\/td>\n<td><span style=\"font-weight: 400;\">53.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fresno, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$285,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$470,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">64.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Gary, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$145,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$310,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">113.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Grand Rapids, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$235,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$365,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">55.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Greensboro, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$186,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$320,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">71.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Greenville, SC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$270,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$340,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Hartford, CT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$235,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$350,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">48.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Honolulu, HI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$758,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$850,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$312,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$370,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$177,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$340,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">92.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$280,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$435,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">55.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Kansas City, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$186,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$395,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">112.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Knoxville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$263,155<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$385,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">46.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Lake County, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$207,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$440,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">112.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Lakeland, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$311,454<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$338,860<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$368,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$489,900<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Little Rock, AR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$150,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$245,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">63.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$660,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,036,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">57.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Louisville, KY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$175,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$340,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">93.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">McAllen, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$199,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$235,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Memphis, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$115,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$330,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">187.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$430,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$623,515<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$153,250<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$381,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">148.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$310,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$430,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">38.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$332,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$511,418<\/span><\/td>\n<td><span style=\"font-weight: 400;\">53.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$395,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$550,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nassau County, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$512,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$720,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">40.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$415,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$525,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Haven, CT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$223,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$384,326<\/span><\/td>\n<td><span style=\"font-weight: 400;\">72.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Orleans, LA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$290,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$325,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$745,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$695,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-6.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$370,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$585,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">58.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">North Port, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$372,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$562,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">51.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$750,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,375,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">83.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oklahoma City, OK<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$162,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$290,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">78.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Omaha, NE<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$180,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$362,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">101.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$335,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$426,700<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oxnard, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$704,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$940,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$200,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$326,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">63.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$385,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$550,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$151,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$280,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">85.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$495,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$635,100<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$345,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$450,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Raleigh, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$394,812<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$520,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Richmond, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$250,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$429,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">71.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$479,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$645,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rochester, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$145,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$260,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">79.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$450,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$665,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">47.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Salt Lake City, UT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$440,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$650,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">47.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Antonio, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$249,799<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$384,990<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$725,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$980,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">35.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,525,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,820,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,189,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$1,725,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">45.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$719,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$999,950<\/span><\/td>\n<td><span style=\"font-weight: 400;\">39.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$147,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$305,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">106.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Stockton, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$395,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$610,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tacoma, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$484,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$629,985<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$350,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$415,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tucson, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$285,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$406,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tulsa, OK<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$170,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$300,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">76.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$255,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$389,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">52.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$220,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$332,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">50.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, D.C.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$450,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$695,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">54.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$350,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$575,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">64.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Wilmington, DE<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$239,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$385,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">61.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Worcester, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$310,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">$475,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">53.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><b> National<\/b><\/td>\n<td><b>$340,000<\/b><\/td>\n<td><b>$470,000<\/b><\/td>\n<td><b>38.2%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span style=\"font-weight: 400;\">Methodology<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For this analysis, we started with data from <\/span><a href=\"https:\/\/opportunityinsights.org\/data\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Opportunity Insights<\/span><\/a><span style=\"font-weight: 400;\">\u2014a nonprofit at Harvard University\u2014that provides a way to identify neighborhoods (census tracts) offering children the best chance to rise out of poverty. Across the 100 most populous metropolitan divisions (referred to as metro areas in the report) for which we had housing data from public records or Redfin.com, we put each neighborhood into one of three groups\u2014high, intermediate or low opportunity\u2014based on average adult earnings (as of 2015) for children raised in that neighborhood.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A high-opportunity neighborhood is defined as one where children who grew up in low-earning households (earnings in the bottom quarter of U.S. household incomes) in the 1980s\u2014specifically those born between 1978 and 1983\u2014went on to become higher earning adults (top third of each metro area\u2019s household income) than the typical person who grew up in their metro at the same time. Intermediate-opportunity neighborhoods are those where children of low-earning households had adult earnings in the middle third of their metro\u2019s household income, and low-opportunity neighborhoods are those where children of low-earning households had adult earnings in the bottom third of their metro\u2019s household income.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We looked at the price of all 2+ bedroom homes (excluding multi-unit property sales) sold each year in each neighborhood to compare the price differences of high-opportunity and low-opportunity areas. Using median household incomes in each county (and for each race of head of household), we were able to estimate how affordable listings were in each neighborhood category. All national figures are a weighted (by housing units, listings, or sales) average of the metro-level metrics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We define an affordable home as one where the monthly mortgage payment would not exceed 30% of the metro\u2019s median household income. We assume a 5% down payment and the average 30-year-fixed mortgage rate during the month the home was listed for sale. <\/span><span style=\"font-weight: 400;\">\u00a0We also assumed a 1.25% annual property-tax rate, a homeowner\u2019s insurance rate equal to 0.75% of the purchase price. Income data overall and by race came from U.S. Census Bureau\u2019s 2021 American Community Survey.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The typical home purchased in high-opportunity U.S. neighborhoods went for $470,000 last year\u2014$130,000 more than the typical home in low-opportunity areas. The price premium for opportunity is highest in segregated parts of the Midwest and South; in Detroit, homes in high-opportunity areas are nearly four times more expensive than those in low-opportunity areas. High-opportunity neighborhoods [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":76646,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[43,51,53],"tags":[20,623],"dashboard":[],"coauthors":[125,93],"class_list":["post-76643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-equality-policy","category-policy","category-race-real-estate","tag-housing-affordability","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Homes Cost 38% More in Areas Offering Best Shot at Upward Mobility<\/title>\n<meta name=\"description\" content=\"The typical home purchased in high-opportunity neighborhoods went for $470,000 last year\u2014$130,000 more than the typical home in low-opportunity areas.\" \/>\n<meta name=\"robots\" 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