All 95 major housing markets in the world have at least one thing in common: they’re unaffordable.
That’s according to a May study by the Chapman University Center for Demographics and Policy that compared the median home price to median incomes of 95 housing markets in the third quarter of 2024.
Markets were considered “affordable” if their median home price was no more than three times the area’s median annual income. Of the markets analyzed, 12 were classified as “impossibly unaffordable,” and not a single one was deemed “affordable,” the study found.
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The most affordable housing market was in Pittsburg, Pennsylvania, where the median home price was 3.2 times greater than the median income in the area. Still, the study considered Pittsburg’s home prices “moderately unaffordable.”
