About one in five housing markets are currently deemed unaffordable, according to new data released by RealtyTrac. In those locales, buying a median-priced home is less affordable than the historically normal level for that county. In a handful of counties, prices are so high that residents’ must use most of their paychecks to afford household expenses.
To come up with their ranking, RealtyTrac took a look at sales data from 417 U.S. counties and used wage information from the Bureau of Labor Statistics.
The 10 most expensive places to live in America:
Brooklyn, N.Y.: 121.70% (the percentage of average wages needed to buy the median home in the area)
Marin County, Calif.: 118.10%
Santa Cruz, Calif.: 113.50%
San Francisco, Calif.: 94.60%
Maui, Hawaii: 92.80%
San Luis Obispo, Calif.: 90.40%
Napa, Calif.: 86.90%
Monterey, Calif.: 84.50%
Queens, N.Y.: 83.60%
Sonoma, Calif.: 82.10%
Author:Victor DeFrisco Phone: 561-951-3759 Dated: June 28th 2016 Views: 79 About Victor: ...
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