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The most and least affordable housing markets in the world, 2017 edition
- Thread starter XiaNaphryz
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Kayo Police
Member
Why would anyone want to move to Detroit?
XiaNaphryz
LATIN, MATRIPEDICABUS, DO YOU SPEAK IT
Looks like they just missed out, they're #13 on the least affordable major market list.
Marty Chinn
Member
San Jose and San Francisco are all part of the Bay Area which really is all the same region. So these charts are a little misleading because since they're so close to each other, when someone is looking for a place to live, both are an option and when you take your income and figure out what's more affordable, San Jose is more affordable than San Francisco despite their ranking being swapped. San Jose is actually the most affordable place in the South Bay Area compared to Campbell, Sunnyvale, Cupertino, Saratoga, Mountain View, and so forth. The reality is as housing got more expensive in those other areas, people started getting pushed out to San Jose.
RocknRola
Member
Hong Kong is crazy
Wow. Crazy is kinda putting it mildly :S I can't imagine living in those kind of buildings myself...
Not that bad here to be honest, and I'm from NYC. Affordable living, decent night life. Nice springs/summers.
Only here for two more years, but its definitely grown on me.
Woffls
Member
Dorset is interesting. Some areas are jokes because it is a coastal county next to a national park, but being 10th on this list is crazy because it has basically one metropolitan area... and that's being generous.
I assume this happens when people retire and move to the area, not to mention all the City folk who don't know what to do with all the money they have and just buy a holiday home.
The house prices themselves are reasonable considering the area. I guess there are just a lot of nice areas in Dorset.
I assume this happens when people retire and move to the area, not to mention all the City folk who don't know what to do with all the money they have and just buy a holiday home.
The house prices themselves are reasonable considering the area. I guess there are just a lot of nice areas in Dorset.
br0ken_shad0w
Member
Just wait till 2100 D:
Yeah, I was mostly just supplementing the poster I quoted's point. The evaluation is weird. If you live in "Rochester proper" where the municipal lines are drawn, its is an accurate survey, but as soon as you drive 5 minutes out of the city, it gets expensive really really fast. Throw out the $750k house and still look at all the 150k+ houses neighboring the city, I'm not sure it qualifies the greater Rochester area as the most affordable housing market in the world.
Maybe it does and I'm just oblivious to how expensive it has gotten everywhere else, I've been trapped in CNY for 11 years now.
dantevsninjas
Member
While the cheap rent and more bang for my buck would be nice, I can't say I'd want to live in any of those places in the top 10.
Yay, were' # 2! (least affordable)
My "starter" house, which is 50 km away from the CBD, has almost doubled in price since I bought it 6 years ago. It's good for me, bad for new home buyers, who have to compete with investors. Every year I think the bubble has to burst, but it just keeps going up.
My "starter" house, which is 50 km away from the CBD, has almost doubled in price since I bought it 6 years ago. It's good for me, bad for new home buyers, who have to compete with investors. Every year I think the bubble has to burst, but it just keeps going up.
Parmadillo Marshmallow
Member
So I live in the 4th least affordable housing market... IN THE WORLD!? WTF?
n0razi
Member
Californians are moving in droves to Texas though... my 1500sq ft townhouse went from $200k to over $450k in the past 3 years
Helensmith
Member
I heard that transport links were poor in Sydney, but maybe that's only compared to London. I used to think London was the most expensive for housing!
Castle Hill seems to be a decent area for a family home and there's a station being built.
Blue Mountains sounds nice, congrats on the move!
Depends on your style. if you are into the small city living Oklahoma City is a neat city I've visited several times for work, with a major sports team, good weather, and a decent downtown scene. I could live there.
AuthenticM
Member
Is the only reason Vancouver up there because of Chinese buying up houses to hide money from their government?
Not the only reason, no.
MissDeviling
Member
I don't know if HK's housing market can ever be fixed.
Pretty much.
Now that there's that foreign buyer tax, the Chinese have set their sights on Toronto. Prices are getting quite out of control here.
cpp_is_king
Member
I live in San Jose (represent!) and I still can't understand how it's higher than San Francisco. There's no way I could afford anything in SF, but in SJ i was able to buy a house (albeit just barely)
Mass_Pincup
Banned
Really surprised to not see Paris in this, I thought it was more expensive than Montreal.
Ya, you have to wonder if they just included all of Santa Clara County and called it "San Jose". Including Palo Alto and such can really raise the median.
Tatsumaki Senpuukyaku!
Member
Hong Kong is crazy
What do people pay in rent for these in USD?
CrazedProfessional
Member
Really, there no excuse for Sydney being up there. Negative gearing is fucked up friends.
poppedcollar69
Member
i was considering moving to philly from portland, but the rental market didn't ultimately seem that much cheaper... i think these charts are more about home ownership, right?
also philly literally has garbage everywhere and the restaurants in portland are better
also philly literally has garbage everywhere and the restaurants in portland are better
Goldenroad
Member
My sister, who has lived in Vancouver for almost a decade now, has decided that it's finally time to leave if she ever wants to actually be able to save up any money, to buy a house, or just to save. My mom and step dad, who have been there for probably 7 or 8 years have resigned themselves to just renting for the rest of their lives in Vancouver and work until they die since there is no hope of every being able to save for retirement in a city like that. Meanwhile, I'm living in bumfuck nowhere (Regina, SK), and can afford to buy a house and probably retire one day, but it's at the expense of my sanity....I'm not sure there is a right answer here, but I guess it's interesting to see Vancouver up that high. I didn't realize it had gotten more expensive than SF and NY.
XiaNaphryz
LATIN, MATRIPEDICABUS, DO YOU SPEAK IT
The numbers the report cites are a median house price of $1,000,000 and median income of $104,100 for San Jose, and $835,400/$90,400 for SF.
Squirrel Killer
Member
It's this attitude that leads people to destroy their financial lives trying to live in a "cool" city.
Chuck Norris
Banned
Look at all those housing markets ruined by foreign investment leaving empty lots of property
cpp_is_king
Member
I would be interested to see a similar study conducted where they use median price / sq ft instead of median home price. I bet SF would be #1, or very close.
There's only 9 countries in this. Paris would definitely be up there below London.
My wife lived in San Jose for yeas; I get the impression that there's a lot of apartments for rent and not so many affordable homes or condos to purchase.
You'd see blocks and blocks of affordable apartments, but most of the actual houses you see were pretty nice and/or in little gated communes.
I bet if they included rental prices San Jose would drop from the list, particularly as you said, if they included per sq. ft. numbers.
What's your definition of affordable? Rental prices aren't as bad as San Francisco, but it probably costs $1600-$1700/month for a 300-400 sq ft studio in an area that's worth a shit.
BlazeBreak
Member
I really doubt such nowadays. I've been browsing rentals in the area since my girlfriend and I are gonna be moving in together in the near future and basically all I'm seeing is $1800 - $2000 a month for a crappy one bedroom.
It's the entire bay area for the most part. I live in Hayward atm and it's barely any cheaper.
KiwiLannister
Member
Auckland is just fucking ridiculous.
Consider the fact that our population is only around 1.5 millionish which is tiny compared to the other cities at the top of that list, and also consider that our land area is comparatively massive.
This is what happens when nobody lives in apartments.
Consider the fact that our population is only around 1.5 millionish which is tiny compared to the other cities at the top of that list, and also consider that our land area is comparatively massive.
This is what happens when nobody lives in apartments.
There's a reason why the cheapest locations are cheapest, and it's not because they're nice places to live.
Portland's housing market is in a huge bubble. Even out toward 82nd, prices are nuts. The house my parents lived in until about 10 years ago is a 1100 square foot 2 bedroom with unfinished basement, and its Zestimate is over $400k. I live out in Lents (often called 'Felony Flats', though it hardly deserves the title), and even my house has broken $300k. There are actually $1M houses close to the river in neighborhoods where the houses were maybe worth $300k back in 2009, and nearly everything in those locations costs at least $800k.
Portland's housing market is in a huge bubble. Even out toward 82nd, prices are nuts. The house my parents lived in until about 10 years ago is a 1100 square foot 2 bedroom with unfinished basement, and its Zestimate is over $400k. I live out in Lents (often called 'Felony Flats', though it hardly deserves the title), and even my house has broken $300k. There are actually $1M houses close to the river in neighborhoods where the houses were maybe worth $300k back in 2009, and nearly everything in those locations costs at least $800k.
StriKeVillain
Banned
You couldn't pay me to live in East Stroudsburg, PA.
YUCK
YUCK
cryptosporidium
Member
Vancouver can eat my ass, as can Clarks ineptness/apathy to the situation
Around where I work in SJ they just built a ton of new apartments, but the rent is all like 2000+ a month for them, it's crazy. People here wonder why I commute into the city instead of living closer lol, I can't afford to live closer to work. Maybe once I pay off my student loans and all.
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