San Jose is the most “unaffordable major city” in the U.S. & one of most unaffordable in the entire world – only behind Hong Kong, Sydney, Vancouver, & Auckland.
That’s according to the 13th annual Demographia International Housing Affordability Survey for 2017, a study of 406 urban markets in nine countries. The study proved San Jose, at fifth place overall, was the most “unaffordable” major American locale. It’s considered by researchers to be “severely unaffordable.” – SF Gate
With median home prices running near $1.1 million, those looking to buy in SJ are likely well aware of how tough it is to get a good deal on a home in the 408’s biggest city.
For perspective, San Francisco came in as the fourth most unaffordable city in the country.
Turns out cities in the midwest and upstate New York are some of the most affordable in America. Shocking, we know.
The full study can be found here.