This is a cache of https://digg.com/real-estate/link/housing-affordability-us-cities-home-price-income-ratio. It is a snapshot of the page at 2024-10-22T01:16:41.158+0000.
America's Worst Cities For Housing Affordability All Belong To One State | Digg

out of reach

America's Worst Cities For Housing Affordability All Belong To One State

America's Worst Cities For Housing Affordability All Belong To One State
In one city, the typical home costs 12.5 times the median household income.
· 22.5k reads ·
· ·

The US has been in the grip of a housing affordability crisis for years now, and it doesn't look like the situation is improving any time soon. The median home sale price reached five times the median household income earlier this year โ€” and depending on where in the country you are, owning a home can be even further out of reach.

Using analysis by Construction Coverage, the team at Visual Capitalist mapped the home price-to-income ratio of 54 large US cities (those with at least one million residents).

The worst housing affordability is found in Los Angeles, California, where the median home costs a staggering 12.5 times the median household income.

Including Los Angeles, the top four least affordable cities in the study are all in California. San Jose has an average home price-to-income ratio of 10.5, while Long Beach's is 10.3 and San Diego's is 9.9.

The fifth-highest home price-to-income ratio belongs to New York City, where it stands at 9.8.

When it comes to the most affordable spots, Detroit, Michigan, tops the list, with homes typically costing just 1.9 of the median household income. The ratios are also low in Cleveland, Ohio (2.7), and Memphis, Tennessee (2.9).

Click image to enlarge

home price-to-income ratio US cities

Via Visual Capitalist.

Comments


Cut Through The Chaos With Digg Edition

Sign up for Digg's daily morning newsletter to get the most interesting stories. Sent every morning.