Housing Affordability Declines in Top 5 Metros: Less Than 30 Percent of Households Can Afford a Home
Housing affordability in the five largest metropolitan areas has declined dramatically over the past five years, with less than 30 percent of households able to afford housing. According to a study by Realtor.com®, housing expenses should not exceed one-third of a household's income, but some areas of the Big Five, particularly California and New York City, face serious affordability issues.
Nov 30, 2024