ATTOM Data Solutions, curator of the nation’s premier property database, today released its Q4 2018 U.S. Home Affordability Report, which shows that the U.S. median home price in the fourth quarter was at the least affordable level since Q3 2008 — a more than 10-year low.

The report calculates an affordability index based on percentage of income needed to buy a median-priced home relative to historic averages, with an index above 100 indicating median home prices are more affordable than the historic average, and an index below 100 indicating median home prices are less affordable than the historic average. (See full methodology below.)

Nationwide, the Q4 2018 home affordability index of 91 was down from an index of 94 in the previous quarter and an index of 106 in Q4 2017 to the lowest level since Q3 2008, when the index was 87.

Among 469 U.S. counties analyzed in the report, 357 (76 percent) posted a Q4 2018 affordability index below 100, meaning homes were less affordable than the long-term affordability averages for the county. That was down from a 10-year high of 78 percent of counties posting an affordability index below 100 in Q3 2018.

“While poor home affordability continues to cloud the U.S. housing market, there are silver linings in the local data as home price appreciation falls more in line with wage growth,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Affordability improved from the previous quarter in more than half of all local markets, and one in five local markets saw annual wage growth outpace annual home price appreciation, including high-priced areas such as San DiegoBrooklyn and Seattle.”

Counter to the national trend, home affordability improved from the previous quarter in 272 of the 469 counties analyzed in the report (58 percent), including Cook County (Chicago), IllinoisHarris County(Houston), TexasSan Diego County, CaliforniaOrange County, California; and Miami-Dade County, Florida.

Home affordability worsened compared to the previous quarter in 197 of the 469 counties analyzed in the report (42 percent), including Los Angeles County, CaliforniaMaricopa County (Phoenix), ArizonaRiverside County, CaliforniaSan Bernardino County, California; and Clark County (Las Vegas), Nevada.