Although the cost of living seems extortionate almost everywhere you go these days, some cities in the world are considered “impossibly unaffordable.” According to the Demographic International Housing Affordability Report, US cities on the West Coast and Hawaii were high up on the list.
While buying a home just about anywhere today might seem tough, certain markets are so pricey, they’ve earned the designation ofFor the past 20 years, researchers at Chapman University’s Center for Demographics and Policy have been tracking home prices in 94 English-speaking major metropolitan cities worldwide. uses price-to-income ratio—the median house price divided by the median household income—to come up with what’s called a “median multiple rating.
Hong Kong, with a median multiple score of 16.7, topped the list of impossibly unaffordable cities for the 14th year in a row. This city was followed by Sydney, Australia, and Vancouver, Canada.Curious just how impossibly unaffordable these U.S. cities have become? Take a gander at the median home price, the median multiple score, and a sample listing for each city below.
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