The most — and least — affordable cities

New York came in at the middle pack

TRD MIAMI /
Oct.October 22, 2017 02:30 PM

(Wikimedia Commons)

From TRD New York: If you adhere to the common-sense rule that rent should account for about 28 percent of your monthly expenses, steer clear of the 105 cities the Bloomberg Global City Housing Affordability Index ranked – you couldn’t live in any of them.

That said, affordability improved in 51 cities, which improved their rankings in comparison with 2012 prices. The remaining 48 cities saw change head south in this year’s rankings, according to Bloomberg News.

One definitive trend is that North American cities dominated the top 10 most affordable cities in the rankings, though the top most affordably city will likely come as a surprise. In the meantime, cities in emerging markets were the most un-affordable housing markets.

New York is roughly in the middle of the ranking this year, however London took the crown this year for the status of being the least-affordable city in Western Europe.

Out of all 105 cities included in the rankings, here are the top five least-affordable cities for housing and the top five most affordable cities:

Least affordable
1 Caracas

(Beatrice Murch)

2 Kiev

(Pixabay)

3 Hanoi

(Uwe Aranas/Wikimedia Commons)

4 Mumbai

(Mayur Thakare/Wikimedia Commons)

5 Buenos Aires

(Luis Argerich/Wikimedia Commons)

Most affordable
1 Riyadh

(Wikimedia Commons)

2 Houston

(Carol M. Highsmith)

3 Philadelphia

(Adam Jones)

4 Calgary

(Pixabay)

5 Ottawa

(Wladyslaw/Wikimedia Commons)

[Bloomberg News] — E.K. Hudson


Related Articles

arrow_forward_ios
Rendering of Bonsai I with Ivanna Jimenez, Fernando Murzi and Jesus Luongo

Developer breaks ground on mixed-income rentals in Little Havana

Matt Rieger and a rendering of Paradise Lake Apartments

Developer scores financing for West Kendall affordable housing project

Miami commissioner Manolo Reyes (Credit: Facebook and iStock)

Miami board backs lower income limit for workforce housing

Joe Carollo (Credit: Getty Images)

Miami commission closer to issuing $85M in bonds for affordable housing

Matthew Rieger and a rendering of Village View

HTG scores financing for Fort Lauderdale senior affordable housing

Joe Carollo (Credit: Getty Images)

Miami to debate FIU affordable housing plan

Juan Carlos Jurado and 1301 Southwest 12 Avenue (Credit: Google Maps)

Affordable housing project planned for Dania Beach

Joe Carollo

Miami may seek $250M for affordable home-buying program

arrow_forward_ios
Loading...