Denver is the country’s least affordable housing market for teachers, says Redfin – Denver Business Journal

When it comes to the nation’s top 28 markets, Denver ranks as the least affordable market for teachers, according to a Redfin report.

With an average salary of $54,500, teachers can only afford 0.3 percent of Denver’s homes, according to the report. That’s the lowest of all 28 cities that Redfin ranked.

With that $54,500 salary, Redfin estimates that teachers can afford to buy a home with a maximum price of $170,000, which is tough to do in today’s Denver’s housing market.

Redfin’s report indicates that Pittsburgh is the nation’s most affordable market for teachers. With an average teachers salary of $62,600, teachers there can afford 39 percent of the homes for sale.

Detroit (35.4 percent), Cleveland (33.4 percent), St. Louis (29 percent), and Philadelphia (25 percent) round out the nation’s top five affordable markets for teachers.

"In today’s housing affordability crisis, far too many teachers still lack the opportunity to become homeowners and long-term investors in the communities they serve. We still have a long way to go before teachers and other public servants in our nation’s cities have a chance to achieve the American dream," said Nela Richardson, Redfin chief economist, in a statement.

Last month, teachers in states like Arizona and Oklahoma took to protests in order to gain wage hikes.

Earlier this year, the Denver Business Journal reported on Colorado’s teacher shortage, and a report that indicated Colorado loses about 16 percent of new classroom teachers within the first five years of teaching.

2018 Largest Denver-Area Private Schools

Ranked by No. of students enrolled for spring term 2018

Rank School name No. of students enrolled for spring term 2018 1 Regis Jesuit High School 1,682 2 Valor Christian High School 1,110 3 Colorado Academy 965 View This List

Source Article