Starter Homes Are Affordable to the Typical Black Family in Just 10 Major U.S. Metros
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Redfin reports that nationwide, a Black family earning the median U.S. income would spend more than 40% of their income on monthly housing costs to afford the typical starter home SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) —The typical Black household can afford a starter home in just 10 of the 50 most populous U.S. metros, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The typical white family can afford a starter home in 32 of those metros, over three times more.This is using the rule of thumb that a household should spend no more than 30% of their income on monthly housing costs. Redfin uses the words “household” and “family” interchangeably in this report. “Starter homes” means homes estimated to be in the 5th to 35th percentile of their respective metro area based on market value.Detroit is the most affordable major metro area for Black families looking to buy a starter home. In Detroit, a family earning the local median income
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News
- Redfin Reports Newly Built Apartments Are Filling Up at the Slowest Pace Since 2020Business Wire
- With 56% ownership of the shares, Redfin Corporation (NASDAQ:RDFN) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Redfin Reports the Typical Home Is Selling for Less Than List Price, the First Time That Has Happened in Late Spring Since Start of PandemicBusiness Wire
- Homeowners Can Now Use Redfin to Redesign Their Home PhotosBusiness Wire
- Redfin Reports Only 39% of Renters Make Enough Money to Afford the Median-Priced ApartmentBusiness Wire
RDFN
Earnings
- 5/7/24 - Beat
RDFN
Sec Filings
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- RDFN's page on the SEC website