How is the Affordable is Real Estate in Beaufort SC?

Are you in a position to buy a home? Not sure? Well, you are not alone, if you are unaware of your home purchasing power.

We receive calls each week from folks looking to rent. And, while we are in the business of selling homes, we are always happy to help point potential tenants in the right direction.

But, we are also always sure to ask if the person has ever thought about buying a home. The most common response is uncertainty on the part of the caller. They just don't know if they are in a position to buy a home.

If you are moving to the Beaufort, SC region, and have not given any thought to buying a home, you need to know that the affordability index in Beaufort County is going through the roof, according to information recently released by the Beaufort County Association of Realtors (BCAR). The affordability index is just what is sounds like. It is a stat that measures the affordability of homes in a certain area.

Beaufort's November affordability index is 180, according to the BCAR, which means that the median income in the region is 180 percent of what would be required to purchase the median priced home in the area. That's excellent news for prospective buyers.

The affordability index is driven by several factors, including median home price, prevailing interest rates, and median income for an area.