There has been quite a bit written about the affordability of homes in Whatcom County. Sometimes, bellingham is rated as one of the most expensive cities in the US to buy a home relative to income. The argument has been that housing is way too expensive in Whatcom County, and Bellingham in particular, for the income of the people who live here.

 

Counter arguments have been that 11,000 students are factored in to the average income, and since students generally have low income, their inclusion gives the inaccurate indication that housing is too expensive. Another counter argument is that since there are so many retired people living in Bellingham, and since it is difficult to assess the income of retirees because of the varied sources of their income, that also gives an inaccurate indication that housing is too expensive.

 

 Well, as can be seen in the chart below, since 2008, housing in Whatcom County has in general become more affordable. (Anything above the line indicates affordability.) And indications are that the trend will continue. Notice, however, that housing is still unaffordable for first time home buyers. The fact that homes are unaffordable for first time buyers is at least partly why the $8000 credit for first time home buyers was very popular.