This is the seventh in a series of reports, starting in 1991, that attempt to measure changes in homeownership affordability for families and unrelated individuals (current owners and current renters). Data in this report reference May through November 2009 of the 2008 panel of the Survey of Income and Program Participation (SIPP). The SIPP data were collected from September through December 2009 in the fourth wave (interview). The represented population (population universe) is the civilian noninstitutionalized population living in the United States. The data collected included reports of income, debts, and financial assets. Income reported in the SIPP in the 4-month collection period is multiplied by 3 to represent annual income. In this report, unrelated individuals in households are analyzed separately from families as sole purchasers. The American Community Survey (ACS) is the source of data on the value of homes (as reported by respondents) for individual states for computing affordability. Some of the comparisons that follow are based on estimates that are not included in the tables and figures in this report. These estimates are based on more detailed tabulations that are available on the U.S. Census Bureau’s housing affordability Web site.