Top Ten Cities Where People Can't Afford to Buy Homes

If you're hoping to move in 2018, you need to see this...

A new report from shows some disturbing nationwide trends about homeownership affordability and things are not looking good for folks here in Boston. The site looked at the median home listing prices in America’s 100 largest cities, and determined their list based on the rule that folks should spend no more than 30% of their income on a mortgage. They then compared that number to the amount of households making equal or greater than that amount. Using this method, they calculated that approximately 70% of the residents of Boston can't afford to be homeowners here.

Check out the full list of cities below:

Boston Back Bay
  1. San Francisco, CA
  2. Boston, MA
  3. Miami, FL
  4. Long Beach, CA
  5. Los Angeles, CA
  6. New York, NY
  7. San Jose, CA
  8. San Diego, CA
  9. Oakland, CA
  10. New Orleans, LA

Source: GoBankingRates

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