Survey Reveals Least Affordable Real Estate Markets

A recently released annual survey found that California has 13 of the top 15 least affordable real estate markets in the United States.

from realtor.com

from realtor.com

The 10th annual International Housing Affordability Survey published by Demographia analyzed 360 metropolitan areas in nine countries and also included San Francisco, San Jose, San Diego and Los Angeles among its top 10 least affordable international cities.

The study based its rankings on comparisons of  metropolitan areas’ average home prices and their populations’  gross annual median household incomes.

The Golden State dominates the survey’s rankings of least affordable U.S. cities:

  1. Honolulu, HI
  2. Santa Barbara, CA
  3. San Francisco, CA
  4. Santa Cruz, CA
  5. San Jose, CA
  6. San Luis Obispo, CA
  7. San Diego, CA
  8. Los Angeles, CA
  9. Oxnard, CA
  10. Santa Rosa, CA
  11. Napa, CA
  12. SalinasMonterey, CA
  13. New York City, NY
  14. Eureka, CA
  15. Chico, CA

In the international survey of major markets, San Francisco was listed as the third least affordable market in the world, with home prices hovering at 9.2 times household income:

  1. Hong Kong
  2. Vancouver
  3. San Francisco
  4. Sydney
  5. San Jose
  6. Melbourne
  7. Auckland
  8. San Diego
  9. Los Angeles
  10. London

If you’d like to see more homes in the country’s least affordable market for yourself, be our guest. Just be sure to bring your wallet.

This article was written by Erik Gunther on realtor.com. See more photos and the original article here.

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