Seattle is known as a pricey place to call home, and now it has been ranked as one of the world’s least affordable housing markets.
Those figures come courtesy of Demographia, which just released its annual “Housing Affordability Survey,” putting Seattle in twenty-second place – out of 309 urban markets around the world.
The report measures middle-income housing affordability in 92 major metropolitan housing markets, including Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, the United Kingdom, and the United States.
Seattle was one of 14 American housing markets to make the list of severely unaffordable major housing markets; the other cities being Los Angeles, San Jose, San Francisco, Honolulu, San Diego, Riverside-San Bernardino, New York, Miami, Denver, Boston, Sacramento, Fresno, and Portland.
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“Among all 209 markets, the United States has the most affordable housing costs, with a Median Multiple of 3.6 in the median market,” the report said. “This has been aided by recent household income increases that have finally exceeded late 1990s levels.”