228: The Most Affordable Housing Markets in the US
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 13 February 2017
⏱️ 7 minutes
🧾️ Download transcript
Summary
Learn the most affordable housing markets in the U.S.
Graph printed in Investor's Business Daily report, week of 2/6/17.
Source: 13th Annual Demographia International Housing Affordability Survey
Looked at "affordability in 92 major housing markets in nine countries found 11 affordable areas - all in the US."
"The survey used Q3 2016 data to gauge the 'median multiple', the ratio of median home price to median pretax income."
Ratio of median home price to median pretax income, with 3.0 or below being "affordable." For example, if median pretax income is $100,000, you can afford a $300,000 home pretty easily so it's deemed "affordable".
The 13th Annual Demographia International Housing Affordability Survey covers 406 metropolitan housing markets (metropolitan areas) in nine countries (Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United Kingdom and the United States) for the third quarter of 2016. A total of 92 major metropolitan markets (housing markets) --- with more than 1,000,000 population --- are included, including five megacities (Tokyo-Yokohama, New York, Osaka-Kobe-Kyoto, Los Angeles, and London).
1. Rochester, NY 2.5
2. Buffalo, NY 2.6
3. Cincinnati, OH 2.7
4. Cleveland, OH 2.7
5. Pittsburgh, PA 2.7
6. Oklahoma City, OK 2.9
7. St. Louis, MO 2.9
8. Grand Rapids, MI 3.0
9. Indianapolis, IN 3.0
10. Kansas City, MO 3.0
The United States scores 3.9 on the index.
On my website www.lindapjones.com, I will post a link to the entire report. It's quite interesting and I think it's worth your time if you're interested in real estate. Go to www.lindapjones.com/affordablehousingmarkets
http://www.demographia.com/dhi.pdf
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Transcript
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| 0:00.0 | Be wealthy and smart, episode number 228. |
| 0:03.2 | I'm gonna live no rich life. |
| 0:07.2 | A rich life. |
| 0:08.2 | All the best life. |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:14.0 | Yeah, I'm full of time I'm gonna live a good life |
| 0:21.0 | I'm gonna live the good life |
| 0:22.0 | Beautiful and glorious night Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.6 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:38.8 | Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor, Empowering Women and Men Worldwide to Financial Freedom. |
| 0:47.0 | On today's show, we're going to talk about a three-part series I'm doing on affordable housing markets in the world and in the US and what's |
| 0:57.7 | most and least affordable. |
| 1:01.1 | You're going to learn today the most affordable housing markets in the U.S. |
| 1:05.0 | We'll start there. |
| 1:06.0 | But I am going to make each one of these podcasts so that they can stand on their own. |
| 1:11.0 | So you're going to hear from the source, which is the 13th annual Demographia International Housing Affordability Survey. |
| 1:21.0 | This is a really thorough survey that's done on global housing markets. |
| 1:25.0 | So you're able to get a global perspective on affordability and what's going on in housing. |
| 1:31.0 | And frankly, it's quite shocking when you look at the lack of affordability |
| 1:36.3 | of housing around the world. But the good news is the most affordable housing markets are found in the US and this is by looking at |
| 1:46.8 | 92 major housing markets in nine countries and they found 11 affordable areas and they were all in the United States. |
| 1:58.1 | The survey used Q3 2016 data to gauge the median multiple, the ratio of median home price to median |
... |
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