Reference:
Sternik G.M., Sternik S.G., Apalkov A.A..
The new method for housing affordability assessment
// Urban Geography and the Real Estate Market. – 2014. – ¹ 2.
– P. 31-49.
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Abstract: In this article, we study the evolution of housing affordability methods, including the standard international
UN HABITAT, the basic method of Gosstroy that is used in Russian official documentation, as well as its modifications,
offered in various scientific works. We have chosen a prototype method that meets the most modern requirements, and
modified it, using the accumulated experience in this strand of research. Initial data has been prepared and the main indicators of housing affordability were calculated, by the example of flats in apartment blocks being constructed in
2012 in Moscow (not accounting for mortgage support). The authors demonstrate the differentiating results of housing
affordability evaluation performed with the new method and those with the basic method. Multiple modifications of the
basic method for population housing affordability evaluation were analyzed, and an analysis was conducted on Moscow’s
housing on the stage of construction. A comprehensive analysis of the housing affordability evaluation methods allowed
to reveal the flaws of the modified base method. The research of multiple modifications of the basic method allowed
to select a modification that satisfies modern requirements the most, and to develop approaches for improving it. The
changes offered for the modified method will broaden its capabilities for enhanced analysis of the issue.
Keywords: Housing affordability, affordability evaluation indicators, share of the population, Standard, Basic, Modified, coefficient calculation method, affordability evaluation, mortgage support, enhanced method
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