Archive · 27 Jul 2025
Home Prices Make US Cities 'Impossibly Unaffordable'
Buying a home in some cities is super tough because prices are way too high compared to how much people earn!
This study looked at places worldwide and found that cities like Hong Kong and Sydney are the most difficult to afford a house in.
Many cities in California and Honolulu are also really expensive.
One reason is that building more homes, especially the ones people actually need, hasn't kept up with the demand.
This makes it harder for regular folks to buy a place to live.
Study reveals extreme housing unaffordability across the US and globally.
Four major California cities are considered nearly impossible to afford a home.
Honolulu, Hong Kong, and several Australian cities are also in the top 10 least affordable.
The study defines 'impossibly unaffordable' as home prices exceeding nine times annual income.
Growth-limiting policies and housing density issues contribute to the high costs.
- Who
- Chapman University’s Center for Demographics and Policy, and various financial planners.
- What
- A study on the affordability of homes in various cities worldwide.
- When
- The study was conducted in late 2024.
- Where
- 95 housing markets including cities in the US, Australia, and Hong Kong.
- Why
- To highlight the increasing unaffordability of housing in many cities, examining price-to-income ratios.
Housing and Market Dynamics
Policy Perspectives
Impact of Growth Restrictions and High-Density Housing.
Housing and Market Dynamics
Limiting growth through policies can increase home prices.
Policy Perspectives
High-density housing might not necessarily solve affordability.
- Study Focus
- Home price vs. income ratio
- Most Unaffordable
- Hong Kong
- US Cities Listed
- San Jose, Los Angeles, San Francisco, San Diego, Honolulu
- Unaffordable Ratio Threshold
- 9x annual income
- Author
- Wendell Cox
