San Jose is the most “unaffordable major city” in the U.S. and one of most “unaffordable” in the entire world behind Hong Kong, Sydney, Vancouver, and Auckland.
The ranking comes from the 13th annual Demographia International Housing Affordability Survey which studied 406 urban markets in nine countries. The study rank San Jose at fifth place overall and therefore the most “unaffordable” in the United States.
With median home prices running near $1.1 million, those looking to buy in San Jose 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 (#9 worldwide) behind San Jose, Honolulu (#2 in US, #7 worldwide), and Los Angeles (#3 in US, #8 worldwide).
Turns out cities in the Midwest and upstate New York are some of the most affordable in America.
The full study can be found here.