Today's Video Headlines: 03/27/26
Among the 25 counties where major monthly home expenses took up the largest share of residents’ wages, 14 were in California , four in New York , three in New Jersey , and two in Hawaii . “Affordability pressures are most acute in coastal markets like California and New York , where in some counties the cost of homeownership now exceeds or nearly consumes a full year of typical wages,” Rob Barber, CEO of ATTOM, tells Realtor.
com. “That kind of imbalance is increasingly leaving many would-be buyers effectively priced out of the market.” Kings County, NY, topped the list of the least affordable markets, where home costs consumed 108.6% of typical wages, followed by Santa Cruz County, CA , Marin County, CA , San Luis Obispo County, CA , and Orange County, CA . Median listing prices are $799,000 in Kings County, $1,192,000 in Santa Cruz County, $1,352,000 in Marin County, $1,099,995 in San Luis Obispo County, and $1,375,000 in Orange County. “Persistent supply constraints continue to drive valuations across California and New York City–adjacent counties,” says Anthony Smith, senior economist at Realtor.com. “Years of underbuilding, coupled with concentrated demand from high-output sectors like tech, finance, and health care, have created a structural supply-demand imbalance that keeps price points elevated and out of reach for many buyers.”Housing costs are placing the greatest strain on buyers in California and New York, home to many of the least affordable counties in the U.S., according to the new data. in Kings County tells Realtor.com, “I recently sold a home in Brooklyn to three couples who teamed up to buy it as a co-living space. Each couple has a private suite, and they share all common areas, such as the kitchen and living spaces. That kind of collaboration is becoming a real path forward for buyers priced out of the market.” Aside from Kings County and Orange County, the least affordable counties with populations over 1 million were Queens County, NY , Nassau County, NY , and Los Angeles County, CA .Among the 25 counties where major monthly home expenses took up the largest share of residents’ wages, 14 were in California, four in New York, three in New Jersey, and two in Hawaii. “Los Angeles remains one of the least affordable housing markets in the country because demand continues to outpace supply, particularly in prime neighborhoods and coastal enclaves,” Cory Weiss of Douglas Elliman in Beverly Hills tells Realtor.com. “Strict zoning, limited new inventory, and strong global interest all contribute to pricing pressure at nearly every tier of the market.”ATTOM defines affordability as the amount of income needed to cover major monthly homeownership costs on a median-priced single-family home or condo, assuming a 20% down payment and a 28% front-end debt-to-income ratio. That required income is then measured against annualized average weekly wage data from the Bureau of Labor Statistics. According to ATTOM, a buyer in the first quarter of 2026 would have had to earn $84,230 annually to afford a nationally medium-priced home and keep major monthly expenses below the 28% of wages threshold.The steepest income requirements to remain below the 28% threshold were in New York County, NY , followed by San Mateo County, CA , Santa Clara County, CA , San Francisco County, CA , and Marin County, CA . Median listing prices are $1,495,000 in New York County, $1,499,719 in San Mateo County, $1,399,450 in Santa Clara County, $1,130,000 in San Francisco County, and $1,352,000 in Marin County.Nikki Beauchamp, an associate broker with Sotheby’s International Realty, a real estate agent in Santa Clara County, tells Realtor.com the area is so expensive because a deep pool of high-earning tech buyers is all competing over a very limited number of homes. “We have classic supply-and-demand imbalance: Inventory is still well below normal, and many existing owners are locked into ultralow pandemic-era mortgage rates, so they simply don’t list unless they have to,” he says.New Yorkers looking to save money in the suburbs are in for a shock — 1 in 4 towns now cost more than $1MLuxe NYC condo has seen homes languishing for years in decade since it launched — it lacks 1 thing other buildings don’tFlorida Rep. found guilty on 25 counts by House Ethics Committee Housing costs are placing the greatest strain on buyers in California and New York, home to many of the least affordable counties in the U.S., according to the new data.Among the 25 counties where major monthly home expenses took up the largest share of residents’ wages, 14 were in California, four in New York, three in New Jersey, and two in Hawaii.Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
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