Expensive and even more expensive: regions of the United States, where residents can not afford to buy a house
Edition 24 / 7 Wall Street analyzed the report on the availability of housing from the company ATTOM Data Solutions for the first quarter 2019 of the year in the United States and identified the top counties, where the cost of housing is too high compared with the incomes of residents of these regions. Housing affordability was determined by comparing average housing prices with average annual wages in the selected district.
Housing affordability remains a major issue for Americans, a recent analysis by ATTOM Data Solutions has identified the least accessible real estate markets in America. The average price of housing in the United States recently reached a record high, exceeding $ 300 thousand.
ATTOM Data Solutions analyzed data provided by the US Bureau of Labor Statistics and housing prices collected by the company for the report. The report found that average housing prices in the first quarter of 2019 were too high for workers with average incomes in 335 of 473 US counties.
An analysis conducted by 24 / 7 Wall Street showed that most of the districts included in the list with the least affordable housing are located in New York or California, writes FOXBusiness.
The list included Bronx, Nassau and Richmond counties (New York), as well as Riverside, Placer, San Diego, El Dorado, Los Angeles, Alameda, Santa Barbara, San Mateo, Napa, Ventura, San Francisco and Orange (California).
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Top-10 districts with the most inaccessible housing (according to the 4 results of the 2018 quarter of the year):
- Honolulu County, Hawaii, where an individual needs $ 148 in income to buy a house and an average annual wage of $ 894; average home sales price - $ 52.
- Sonoma County, California, where a person must have an income of $ 156 to buy a home. The average annual salary was about $ 249 thousand, and the average home sales price was $ 54 thousand.
- Monterey County (California), where a person needs an annual income of $ 144 726 to buy a house, and the average annual salary is $ 47 736. The price of housing has reached a level of just over half a million dollars.
- Queens County, New York, where the income required to buy a home is $ 169 and the average annual wage is $ 514. You can buy your own home for $ 55.
- San Luis Obispo County, California, where the income needed to buy a home was $ 148, while the median wage was $ 744 and the median home price was $ 47.
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- Marin County, California, where the income needed to buy a home was $ 270 and the median household income was $ 710. The median home sales price in Q73 was over $ 554 million.
- Maui County (Hawaii), where a person needs an income of $ 162 717 to buy a house, and the average annual salary is $ 45 226. You can buy your own housing on average for $ 627 969.
- New York County (New York), where a person needs an income of $ 511 003 to buy a home, the average annual salary is $ 124 462, and the average price of housing is about $ 2 million.
- Santa Cruz County (California), where a person needs an income of $ 208 178 dollars to buy a house, and the average annual salary is $ 51 077 dollars. The cost of housing has reached $ 770 thousand.
- Kings County (New York), where the income required to buy a house is $ 197 830, and the average annual income of residents is $ 47 788. You can buy your own home for $ 760 thousand.
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