{"id":1497000,"date":"2024-10-18T10:55:00","date_gmt":"2024-10-18T14:55:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1497000"},"modified":"2024-10-18T10:55:00","modified_gmt":"2024-10-18T14:55:00","slug":"los-angeles-has-the-highest-home-price-to-income-ratio-in-the-us","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/los-angeles-has-the-highest-home-price-to-income-ratio-in-the-us\/1497000\/","title":{"rendered":"Los Angeles Has The Highest Home Price-To-Income Ratio In The US"},"content":{"rendered":"

Los Angeles Has The Highest Home Price-To-Income Ratio In The US<\/span><\/p>\n

\n

Many Americans continue to find homeownership financially out of reach<\/strong> due to\u00a0rising house prices<\/a>\u00a0and\u00a0stagnant wages<\/a>, among other contributing factors. But which U.S. cities are the least affordable?<\/strong><\/p>\n

One way to assess housing affordability is through the home\u00a0price-to-income ratio<\/strong>, which measures the ratio of the median home price to the median household income.<\/p>\n

This map, via Visual Capitalist’s Kayla Zhu,<\/a> shows the home price-to-income ratio of 54 large cities (population over one million) in the U.S. using data from Construction Coverage\u2019s\u00a0analysis<\/a>\u00a0of Zillow and U.S. Census Bureau data.<\/p>\n

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

Housing Affordability Worst in Coastal U.S. Cities<\/h2>\n

Below, we show the home price-to-income ratio, median home price, and median household income, for 54 large cities in the United States of America.<\/p>\n

Rank
\n\t\t\tCity
\n\t\t\tState
\n\t\t\tPrice-to-income
\n\t\t\tMedian home price
\n\t\t\tMedian household income
\n\t\t1
\n\t\t\tLos Angeles
\n\t\t\tCA
\n\t\t\t12.5
\n\t\t\t$953,501
\n\t\t\t$76,135
\n\t\t2
\n\t\t\tSan Jose
\n\t\t\tCA
\n\t\t\t10.5
\n\t\t\t$1,406,957
\n\t\t\t$133,835
\n\t\t3
\n\t\t\tLong Beach
\n\t\t\tCA
\n\t\t\t10.3
\n\t\t\t$825,502
\n\t\t\t$80,493
\n\t\t4
\n\t\t\tSan Diego
\n\t\t\tCA
\n\t\t\t9.9
\n\t\t\t$994,023
\n\t\t\t$100,010
\n\t\t5
\n\t\t\tNew York
\n\t\t\tNY
\n\t\t\t9.8
\n\t\t\t$732,594
\n\t\t\t$74,694
\n\t\t6
\n\t\t\tMiami
\n\t\t\tFL
\n\t\t\t9.2
\n\t\t\t$558,873
\n\t\t\t$60,989
\n\t\t7
\n\t\t\tSan Francisco
\n\t\t\tCA
\n\t\t\t9
\n\t\t\t$1,236,502
\n\t\t\t$136,692
\n\t\t8
\n\t\t\tOakland
\n\t\t\tCA
\n\t\t\t8.4
\n\t\t\t$780,188
\n\t\t\t$93,146
\n\t\t9
\n\t\t\tBoston
\n\t\t\tMA
\n\t\t\t8.3
\n\t\t\t$718,233
\n\t\t\t$86,331
\n\t\t10
\n\t\t\tSeattle
\n\t\t\tWA
\n\t\t\t7.3
\n\t\t\t$847,419
\n\t\t\t$115,409
\n\t\t11
\n\t\t\tPortland
\n\t\t\tOR
\n\t\t\t6.5
\n\t\t\t$524,870
\n\t\t\t$81,119
\n\t\t12
\n\t\t\tDenver
\n\t\t\tCO
\n\t\t\t6.4
\n\t\t\t$563,372
\n\t\t\t$88,213
\n\t\t13
\n\t\t\tTucson
\n\t\t\tAZ
\n\t\t\t6.4
\n\t\t\t$327,123
\n\t\t\t$51,281
\n\t\t14
\n\t\t\tWashington
\n\t\t\tDC
\n\t\t\t6
\n\t\t\t$610,180
\n\t\t\t$101,027
\n\t\t15
\n\t\t\tAustin
\n\t\t\tTX
\n\t\t\t6
\n\t\t\t$533,719
\n\t\t\t$89,415
\n\t\t16
\n\t\t\tNashville
\n\t\t\tTN
\n\t\t\t6
\n\t\t\t$432,592
\n\t\t\t$71,767
\n\t\t17
\n\t\t\tAurora
\n\t\t\tCO
\n\t\t\t5.9
\n\t\t\t$483,228
\n\t\t\t$81,395
\n\t\t18
\n\t\t\tSacramento
\n\t\t\tCA
\n\t\t\t5.9
\n\t\t\t$472,412
\n\t\t\t$80,254
\n\t\t19
\n\t\t\tLas Vegas
\n\t\t\tNV
\n\t\t\t5.9
\n\t\t\t$407,969
\n\t\t\t$68,905
\n\t\t20
\n\t\t\tRaleigh
\n\t\t\tNC
\n\t\t\t5.8
\n\t\t\t$434,407
\n\t\t\t$75,424
\n\t\t21
\n\t\t\tFresno
\n\t\t\tCA
\n\t\t\t5.8
\n\t\t\t$370,798
\n\t\t\t$64,196
\n\t\t22
\n\t\t\tColorado Springs
\n\t\t\tCO
\n\t\t\t5.7
\n\t\t\t$449,123
\n\t\t\t$78,568
\n\t\t23
\n\t\t\tPhoenix
\n\t\t\tAZ
\n\t\t\t5.6
\n\t\t\t$422,001
\n\t\t\t$75,969
\n\t\t24
\n\t\t\tMesa
\n\t\t\tAZ
\n\t\t\t5.5
\n\t\t\t$434,369
\n\t\t\t$79,496
\n\t\t25
\n\t\t\tCharlotte
\n\t\t\tNC
\n\t\t\t5.3
\n\t\t\t$391,750
\n\t\t\t$74,401
\n\t\t26
\n\t\t\tBakersfield
\n\t\t\tCA
\n\t\t\t5.3
\n\t\t\t$380,862
\n\t\t\t$72,017
\n\t\t27
\n\t\t\tTampa
\n\t\t\tFL
\n\t\t\t5.3
\n\t\t\t$375,241
\n\t\t\t$71,089
\n\t\t28
\n\t\t\tAlbuquerque
\n\t\t\tNM
\n\t\t\t5
\n\t\t\t$321,411
\n\t\t\t$64,757
\n\t\t29
\n\t\t\tVirginia Beach
\n\t\t\tVA
\n\t\t\t4.7
\n\t\t\t$391,244
\n\t\t\t$83,245
\n\t\t30
\n\t\t\tAtlanta
\n\t\t\tGA
\n\t\t\t4.7
\n\t\t\t$390,373
\n\t\t\t$83,251
\n\t\t31
\n\t\t\tDallas
\n\t\t\tTX
\n\t\t\t4.7
\n\t\t\t$307,990
\n\t\t\t$65,400
\n\t\t32
\n\t\t\tNew Orleans
\n\t\t\tLA
\n\t\t\t4.6
\n\t\t\t$241,369
\n\t\t\t$52,322
\n\t\t33
\n\t\t\tArlington
\n\t\t\tTX
\n\t\t\t4.5
\n\t\t\t$315,222
\n\t\t\t$70,433
\n\t\t34
\n\t\t\tHouston
\n\t\t\tTX
\n\t\t\t4.4
\n\t\t\t$264,626
\n\t\t\t$60,426
\n\t\t35
\n\t\t\tSan Antonio
\n\t\t\tTX
\n\t\t\t4.3
\n\t\t\t$253,762
\n\t\t\t$58,829
\n\t\t36
\n\t\t\tMinneapolis
\n\t\t\tMN
\n\t\t\t4.2
\n\t\t\t$312,872
\n\t\t\t$74,473
\n\t\t37
\n\t\t\tFort Worth
\n\t\t\tTX
\n\t\t\t4.2
\n\t\t\t$302,359
\n\t\t\t$71,527
\n\t\t38
\n\t\t\tJacksonville
\n\t\t\tFL
\n\t\t\t4.2
\n\t\t\t$294,450
\n\t\t\t$69,309
\n\t\t39
\n\t\t\tEl Paso
\n\t\t\tTX
\n\t\t\t4.1
\n\t\t\t$216,673
\n\t\t\t$52,645
\n\t\t40
\n\t\t\tChicago
\n\t\t\tIL
\n\t\t\t4
\n\t\t\t$284,818
\n\t\t\t$70,386
\n\t\t41
\n\t\t\tOmaha
\n\t\t\tNE
\n\t\t\t4
\n\t\t\t$272,286
\n\t\t\t$67,450
\n\t\t42
\n\t\t\tColumbus
\n\t\t\tOH
\n\t\t\t3.9
\n\t\t\t$238,286
\n\t\t\t$61,727
\n\t\t43
\n\t\t\tMilwaukee
\n\t\t\tWI
\n\t\t\t3.9
\n\t\t\t$191,149
\n\t\t\t$49,270
\n\t\t44
\n\t\t\tPhiladelphia
\n\t\t\tPA
\n\t\t\t3.8
\n\t\t\t$215,593
\n\t\t\t$56,517
\n\t\t45
\n\t\t\tLouisville
\n\t\t\tKY
\n\t\t\t3.7
\n\t\t\t$233,464
\n\t\t\t$63,049
\n\t\t46
\n\t\t\tKansas City
\n\t\t\tMO
\n\t\t\t3.7
\n\t\t\t$230,526
\n\t\t\t$62,175
\n\t\t47
\n\t\t\tIndianapolis
\n\t\t\tIN
\n\t\t\t3.6
\n\t\t\t$218,591
\n\t\t\t$61,501
\n\t\t48
\n\t\t\tTulsa
\n\t\t\tOK
\n\t\t\t3.6
\n\t\t\t$194,784
\n\t\t\t$54,040
\n\t\t49
\n\t\t\tBaltimore
\n\t\t\tMD
\n\t\t\t3.2
\n\t\t\t$177,786
\n\t\t\t$55,198
\n\t\t50
\n\t\t\tOklahoma City
\n\t\t\tOK
\n\t\t\t3.1
\n\t\t\t$198,826
\n\t\t\t$63,713
\n\t\t51
\n\t\t\tWichita
\n\t\t\tKS
\n\t\t\t3.1
\n\t\t\t$186,528
\n\t\t\t$59,277
\n\t\t52
\n\t\t\tMemphis
\n\t\t\tTN
\n\t\t\t2.9
\n\t\t\t$144,347
\n\t\t\t$50,622
\n\t\t53
\n\t\t\tCleveland
\n\t\t\tOH
\n\t\t\t2.7
\n\t\t\t$100,734
\n\t\t\t$37,351
\n\t\t54
\n\t\t\tDetroit
\n\t\t\tMI
\n\t\t\t1.9
\n\t\t\t$68,379
\n\t\t\t$36,453<\/p>\n

Cities on the West Coast, particularly in California, face the most significant housing affordability challenges.<\/p>\n

The top four cities with the highest ratios are all in California, while other major West Coast cities like San Francisco, Seattle, and Portland rank among the top 15.<\/p>\n

The top five cities, including New York City, have a home price-to-income ratio more than double the national average of 4.7, making them highly unaffordable.<\/p>\n

While median household income in cities like San Francisco, San Jose, and Seattle are among the highest in the country, they also have some of the\u00a0most expensive house prices<\/a>\u00a0in the country.<\/p>\n

The Midwest and parts of the South have much lower ratios, including Detroit (1.9), Cleveland (2.1), and Memphis (3.1). Midwest cities consistently rank among the most affordable for housing and\u00a0cost of living<\/a>.<\/p>\n

To learn more about the U.S. housing market,\u00a0graphic<\/a>\u00a0that 10 fastest-growing housing markets in the U.S., based on their housing stock growth between 2013 and 2022.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 10\/18\/2024 – 06:55<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/los-angeles-has-highest-home-price-income-ratio-us<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Los Angeles Has The Highest Home Price-To-Income Ratio In The US Many Americans continue to find homeownership financially out of reach due to\u00a0rising house prices\u00a0and\u00a0stagnant…<\/p>\n","protected":false},"author":0,"featured_media":1497001,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1497000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1497000","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=1497000"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1497000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1497001"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1497000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1497000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1497000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}