Median multiple

[1] The Median house price to income ratio was the primary indicator H1 of the 1991 World Bank/UNCHS Housing Indicator system.

[2][3] It was subsequently used as a measure of affordability by the UN Commission for Sustainable Development, the National Association of Realtors, State of the Environment 2003 Tasmania, and the Mortgage Guide UK.

[4] The indicator has been popularised by Demographia International, and was called the 'Median multiple' from their second comparative international survey in 2006.

This measure has historically hovered around a value of 3 or less, but in recent years has risen dramatically, especially in markets with public policy constraints on land and development.

[6] The 2024 Demographia International Housing Affordability report uses the following affordability categories based on the median multiple for a given market:[7]