Top 15 Unaffordable Places in the U.S.
In the past years, locals have had difficulty purchasing a house in many counties in the U.S. due to an increase in the price of Real Estate. There are such places where purchasing a house is no longer affordable. In this blog we are going to see which places are unaffordable to purchase in U.S. So, we have taken some of the data from Money Geek and analyzed the 15 counties having places where houses are no longer affordable to purchase for locals.
Here is the list of the Top 15 Unaffordable places in the U.S.
Placer County, CA
- Metro Area: Sacramento–Roseville–Arden-Arcade, CA
- Median Household Income: $105,445
- Median Home Price: $740,088
- Median Monthly Cost of Homeownership: $5,436
- Home Costs as a % of Income: 61.9%
Norfolk County, MA
- Metro Area: Boston-Cambridge-Newton, MA-NH
- Median Household Income: $115,899
- Median Home Price: $740,987
- Median Monthly Cost of Homeownership: $5,809
- Home Costs as a % of Income: 58.0%
Washoe County, NV
- Metro Area: Reno, NV
- Median Household Income: $80,125
- Median Home Price: $588,847
- Median Monthly Cost of Homeownership: $3,932
- Home Costs as a % of Income: 58.9%
San Joaquin County, CA
- Metro Area: Stockton-Lodi, CA
- Median Household Income: $83,058
- Median Home Price: $553,133
- Median Monthly Cost of Homeownership: $4,017
- Home Costs as a % of Income: 58.0%
Clackamas County, OR
- Metro Area: Portland-Vancouver-Hillsboro, OR-WA
- Median Household Income: $97,419
- Median Home Price: $639,349
- Median Monthly Cost of Homeownership: $4,702
- Home Costs as a % of Income: 57.9%
Solano County, CA
- Metro Area: Vallejo-Fairfield, CA
- Median Household Income: $92,959
- Median Home Price: $633,442
- Median Monthly Cost of Homeownership: $4,574
- Home Costs as a % of Income: 59.0%
Lane County, OR
- Metro Area: Eugene, OR
- Median Household Income: $64,089
- Median Home Price: $481,421
- Median Monthly Cost of Homeownership: $3,400
- Home Costs as a % of Income: 63.7%
Contra Costa County, CA
- Metro Area: San Francisco-Oakland-Hayward, CA
- Median Household Income: $120,081
- Median Home Price: $875,183
- Median Monthly Cost of Homeownership: $5,333
- Home Costs as a % of Income: 53.3%
Washington County, OR
- Metro Area: Portland-Vancouver-Hillsboro, OR-WA
- Median Household Income: $98,908
- Median Home Price: $598,213
- Median Monthly Cost of Homeownership: $4,394
- Home Costs as a % of Income: 53.3%
Essex County, MA
- Metro Area: Boston-Cambridge-Newton, MA-NH
- Median Household Income: $92,413
- Median Home Price: $650,959
- Median Monthly Cost of Homeownership: $4,912
- Home Costs as a % of Income: 63.8%
Sacramento County, CA
- Metro Area: Sacramento–Roseville–Arden-Arcade, CA
- Median Household Income: $84,211
- Median Home Price: $550,422
- Median Monthly Cost of Homeownership: $3,974
- Home Costs as a % of Income: 58.6%
Larimer County, CO
- Metro Area: Fort Collins, CO
- Median Household Income: $88,403
- Median Home Price: $639,709
- Median Monthly Cost of Homeownership: $4,470
- Home Costs as a % of Income: 60.7%
Denver County, CO
- Metro Area: Denver-Aurora-Lakewood, CO
- Median Household Income: $88,213
- Median Home Price: $681,243
- Median Monthly Cost of Homeownership: $4,709
- Home Costs as a % of Income: 84.1%
Marion County, OR
- Metro Area: Salem, OR
- Median Household Income: $71,022
- Median Home Price: $439,919
- Median Monthly Cost of Homeownership: $3,257
- Home Costs as a % of Income: 55.0%
Ada County, ID
- Metro Area: Boise City, ID
- Median Household Income: $87,774
- Median Home Price: $572,814
- Median Monthly Cost of Homeownership: $4,042
- Home Costs as a % of Income: 55.3%
Conclusion:
These are the places where locals find it difficult to purchase a house in their community and society. By looking at this list, we can see how hard it is to own and rent a house in these places. After the pandemic, many companies started to give remote work, due to which the people of the country started to spend time in their homes. And raises the demand for the house in the places.
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