Downey home prices outpace income

DOWNEY – Downey has the 14th highest home price-to-income ratio in the United States according to a survey released this week.

The median home price in Downey increased by 41.8% over the past five years, and now sits at $849,745.

Meanwhile, the median income for Downey households is $85,089, according to figures compiled by Construction Coverage.

On an inflation-adjusted basis, household incomes nationally increased by just 4.5% since 2000, while home prices increased by 59.1%.