Zip-Realty has released its first ever ranking of housing affordability in 30 major and metropolitan areas and coming it at number 1 was Dallas, Texas. The Zip-Realty rankings are determined by comparing the median household income of a city to the median home price in that city. The median income of a Dallas family is $47,418 while the median home price in Dallas is $249,950. This equates to a home price to median income ratio of 5.27%. In other words the median Dallas family will only have to spend 5.27% of their annual income to afford the median house in Dallas. On the other end of the income to home price ratio spectrum you will find cities like Washington DC and Brooklyn NY where income to home price ratios are over 16%.Below is a list of the TOP 10 MOST AFFORDABLE HOUSING MARKETS as determined by Zip-Realty.
City Home Price to Income Ratio
- Dallas-Fort Worth 5.27x
- Houston 5.43x
- Minneapolis 5.50x
- Orlando 5.89x
- Las Vegas 5.98x
- Raleigh, N.C. 6.03x
- Austin 6.13x
- Denver 6.31x
- Nashville 6.47x
- Phoenix 6.59x
Below is a list of the TOP 10 MOST EXPENSIVE HOUSING MARKETS as determined by Zip-Realty
City Home Price to Income Ratio
- Washington, D.C. 16.78x
- Brooklyn, N.Y. 16.58x
- San Francisco Bay Area 13.81x
- San Diego 13.60x
- Los Angeles 13.52x
- Miami 12.11x
- Orange County (California) 10.63x
- Boston 9.47x
- Westchester (New York State) 9.29x
- Baltimore 8.56x
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