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The phrase "affordability has fallen" is correct and usable in written English.
You can use it when discussing economic conditions, housing markets, or any context where the cost of living or prices have decreased in relation to income or purchasing power.
Example: "In recent years, affordability has fallen, making it increasingly difficult for families to purchase homes."
Alternatives: "affordability has decreased" or "affordability has declined."
Exact(1)
And the share of homeowners spending at least 35% of their income on housing — a common barometer for affordability — has fallen sharply in the last few years to 30%.
Similar(59)
The affordability index has fallen from 19.4 in 1989 to a forecast 13.2 in 1999.
The price of food has fallen along with salaries, spreading the affordability of processed food.
An interesting figure he shared with me about affordability across the country: In 2003-04 the cost to own/rent was about equal, [in] 2006 [it was] 35% higher to own vs. rent and this figure has fallen to about 8% higher to own vs. rent.
But even so, in slumping cities like Orlando, where prices have fallen 13% over the last year, and unsold inventory is the highest in the country, a pickup in home affordability doesn't necessarily mean that the market is ready to turn positive.
Proposals for even newer projects have fallen to a four-year low because real estate developers are waiting to see where the city's new affordability requirements will fall.
A return to affordability has also helped.
An analysis by Macquarie, an investment bank, found that a typical passenger has seen taxi costs fall by half since 2003, relative to average incomes.Greater affordability has allowed many of the capital's new middle class to switch from crowded public transport to taxis.
And affordability has improved with the decline in interest rates".
If anything, affordability has been thrown into starker relief," he said.
"Affordability has got to be a factor in there," he added.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com