Bay Area Housing Markets Are Among the World’s 10 Least Affordable

By January 26, 2017Bay Area Real Estate

While the Bay Area’s housing affordability crunch is all too familiar for local home shoppers, a recent report brings a global perspective to the situation, with San Jose and San Francisco ranking among the planet’s least affordable housing markets.

In its 13th Annual International Housing Affordability survey, Demographia ranks the the world’s most and least affordable housing markets according to the median multiple, a benchmark that divides the median house price by the median household income. Markets with a score of 3.0 or less are considered affordable, while those with a 5.1 or higher are considered severely unaffordable.

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