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KITTITAS COUNTY, WASHINGTON <br />PAGE 21 | ECONOMIC DEVELOPMENT STRATEGIC PLAN <br />Figure 6. Housing Affordability, 2019 <br />Share of housing units whose occupations spend more than 30 percent of household income on housing expenses <br />(i.e., rent or mortgage payments) <br /> <br />Source(s): American Community Survey, 2019 5-year sample; TIP Strategies, Inc. <br />Figure 7. Texas Housing Affordability Index (THAI), 2019 <br />This index compares household median income to a typical mortgage payment on a median-priced home. A value of 1 <br />indicates the median income is exactly enough to purchase a median home. Values <1 indicate unaffordability, and <br />values >1 indicate sufficient affordability. Adjust inputs on the right side to modify the mortgage and median income. <br /> <br />Source(s): American Community Survey, 2019 5-year sample; TIP Strategies, Inc. <br />Note(s): The THAI was adapted from the Texas A&M University Real Estate Center by TIP Strategies, Inc. Mortgage payments only include the <br />monthly payments on the loan (does not include insurance or tax payments). Down payment is the percentage of the home value paid before the <br />mortgage. Mortgage interest rate is the annual percentage rate. Mortgage term is the length of the loan in years. Qualifying ratio is the maximum <br />debt-to-income ratio that still qualifies for a mortgage. Adjustment shifts the income used in the calculation where 100 percent is the median <br />household income.