What are the 10 least affordable housing markets in the US right now



After several months characterized by steady increases in home prices and interest rates, there appears to be a cooling off in the real estate market. In fact, builders claim that there is a “housing recession in the US.

However, there are areas in the country where it is still not recommended to live. RealtyHop’s Home Affordability Index showed that of 100 cities that were evaluated, the American would have to dedicate at least 40% of his income to acquire a property in 42 of them.

Here are the 10 least affordable markets in the US. based on your median household income, median home price, and percentage of income required to pay for the property.

1.Miami

The median household income in this area is $44,581.; the median home price is $610,000 and the percentage of income required to pay for the property is 87.39%.

2. Los Angeles

The median family income in this area is $69,695; median home price is $975,000 and the percentage of income required to pay for the property is 85.34%.

3. New York

The median household income in this area is $68,129.; the median home price is $925,000 and the percentage of income required to pay for the property is 82.47%.

4.Newark, NJ

The median family income in this area is $38,854 dollars; the median home price is $385,000 and the percentage of income required to pay for the property is 77.52%.

5. Hialeah, Fla.

The median household income in this area is $40,036.; the median home price is $465,000 and the percentage of income required to pay for the property is 72.55%.

6. Long Beach, Calif.

The median family income in this area is $126,117; median home price is $799,000 and the percentage of income required to pay for the property is 69.77%.

7. San Francisco, Calif.

The median family income in this area is $44,581 dollars; the median home price is $1,388,000 and the percentage of income required to pay for the property is 66.56%.

8. San Diego, Calif.

The median household income in this area is $89,357.; the median home price is $950,000 and the percentage of income required to pay for the property is 65.65%.

9. Anaheim, Calif.

The median family income in this area is $80,846 dollars; median home price is $834,250 and the percentage of income required to pay for the property is 63.98%.

10. Santa Ana, Calif.

The median family income in this area is $74,185 dollars; the median home price is $750,000 and the percentage of income required to pay for the property is 62.14%.

This report comes almost on a par with another from the real estate broker Redfin that showed the 10 cities in the country with the lowest “bidding wars” for housing in July.

It may interest you:
-Why the housing crisis is at the center of historical inflation in the US.
-U.S. House Prices Hit New Record High at $416,000 in June, Despite Lack of Demand
-In 76% of the 50 largest US metropolitan areas, it is cheaper to rent a home than to pay a monthly mortgage
-US housing construction plummets to its lowest level in nine months

Source-laopinion.com