{"id":1474182,"date":"2024-06-28T22:50:00","date_gmt":"2024-06-29T02:50:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1474182"},"modified":"2024-06-28T22:50:00","modified_gmt":"2024-06-29T02:50:00","slug":"these-are-the-worlds-least-affordable-housing-markets-2","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/these-are-the-worlds-least-affordable-housing-markets-2\/1474182\/","title":{"rendered":"These Are The World’s Least Affordable Housing Markets"},"content":{"rendered":"

These Are The World’s Least Affordable Housing Markets<\/span><\/p>\n

\n

Many cities around the world have become very expensive to buy a home in, but which ones are the absolute most unattainable?<\/p>\n

In this graphic, Visual Capitalist’ Marcus Lu <\/a>highlights a number of housing markets that are deemed to be \u201cimpossibly unaffordable\u201d in 2024, ranked by their\u00a0median price-to-income ratio<\/strong>.<\/p>\n

<\/a><\/p>\n

This data comes from the\u00a0Demographia International Housing Affordability Report<\/a>, which is produced by the Chapman University\u00a0Center for Demographics and Policy<\/a>.<\/em><\/p>\n

Data and Key Takeaway<\/h2>\n

The median price-to-income ratio compares\u00a0median house price<\/em>\u00a0to\u00a0median household income<\/em>\u00a0within each market. A higher ratio (higher prices relative to incomes) means a city is less affordable.<\/p>\n

See the following table for all of the data we used to create this graphic. Note that this analysis covers 94 markets across eight countries: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.<\/p>\n

<\/a><\/p>\n

According to the Demographia report, cities with a median price-to-income ratio of over\u00a09.0<\/strong>\u00a0are considered \u201cimpossibly unaffordable\u201d.<\/p>\n

We can see that the top city in this ranking,\u00a0Hong Kong<\/strong>, has a ratio of\u00a016.7<\/strong>. This means that the median price of a home is 16.7 times greater than the median income.<\/p>\n

Which Cities are More Affordable?<\/h2>\n

On the flipside, here are the top 12 most affordable cities that were analyzed in the Demographia report.<\/p>\n

<\/a><\/p>\n

Cities with a median price-to-income ratio of\u00a0less than 3.0<\/strong>\u00a0are considered \u201caffordable\u201d, while those\u00a0between 3.1 and 4.0<\/strong>\u00a0are considered \u201cmoderately unaffordable\u201d.<\/p>\n

See More Real Estate Content From Visual Capitalist<\/h2>\n

If you enjoyed this post, be sure to check out\u00a0Ranked: The Most Valuable Housing Markets in America<\/a>.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 06\/28\/2024 – 18:50<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/these-are-worlds-least-affordable-housing-markets-0<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

These Are The World’s Least Affordable Housing Markets Many cities around the world have become very expensive to buy a home in, but which ones…<\/p>\n","protected":false},"author":0,"featured_media":1474183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1474182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6bv8","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/06\/Impossibly-Unaffordable-Cities_S-BO41NF.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1474182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1474182"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1474182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1474183"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1474182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1474182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1474182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}