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As It Turns Out, Affordability Is About Location, Location, Location (And Transportation)

As part of the Urban Markets Initiative, The Brookings Institution Center presents a new tool for measuring the affordability of housing [Brookings] [1] that the Transit-Oriented Development and the Center for Neighborhood Technology has created.

From the Brookings Web Site:
The Housing and Transportation Affordability Index is a groundbreaking innovation because it prices the trade-offs that households make between housing and transportation costs and the savings that derive from living in communities that are near shopping, schools, and work, and that boast a transit-rich environment. Built using data sets that are available for every transit-served community in the nation, the tool can be applied in neighborhoods in more than 42 cities in the United States. It provides consumers, policymakers, lenders, and investors with the information needed to make better decisions about which neighborhoods are truly affordable, and illuminate the implications of their policy and investment choices.

Download the full report [pdf] [2]
Areas Covered [Brookings] [3]
In-depth Methodology White Paper [pdf] [4]

While location is an important component of housing, an inherent factor of location is access to transportation. This becomes more critical when considered within the realm of affordable housing. However, there can be a hidden cost whereby public transportation itself can limit income and employment options for those who benefit from affordable housing.