A middle-class household can afford just 15% of homes for sale in San Francisco and 22% in Los Angeles. In New York, only 25% of homes for sale are within reach. Joining the least affordable list for the first time are Austin and Miami. In Austin, just 40% of homes for sale are within reach of the middle class, down from 50% last fall.
And in megaregions with at least 4 million residents, more than half the homes on the market are too expensive for middle-class buyers. The affordability data, compiled by Jed Kolko, Trulia’s chief.
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Too often the old and creaky homes they can afford fail. Already, middle-class South Floridians spend nearly 70 percent of their income on housing, commuting and utilities, according to a study.
That was a recommendation of real estate research firm Trulia’s list of the least and most expensive U.S. housing markets for today’s middle class. According to Trulia, affordability has worsened in.
Even as the overall U.S. housing recovery has slowed, sales of homes above $1 million have surged in the past year. Price gains have been so great in some areas that middle-class buyers are straining.
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Home affordability continues to challenge first-time, young and middle-class buyers, with some of the warmer climes generally making for the hottest – and least affordable – housing markets.
is also increasingly problematic for the middle class. Households are spending almost 39 percent of their income to afford starter homes, while those buying trade-up homes are spending about 26.
But these cities, too, are filled with America’s economically precarious working class and middle class. So precarious. The stark numbers come from Trulia, the real estate information firm. In a.
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The average price of a home is rising, but middle-class incomes aren’t. That’s one conclusion that can be drawn from a report published Tuesday by Jed Kolko, chief economist at Trulia, which.
Only about 19 percent of the homes for sale in Bergen County are within reach of the average middle-class family, a recent survey shows, while in Salem County, the number skyrockets to 92 percent.
Trulia: Home affordability slips for middle class. Where it’s cold it’s affordable; where it’s warm you can’t buy. home affordability continues to challenge first-time, young and middle.