#873 - Boise is Now the Least Affordable Housing Market in the United States
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Toronto headlines and news articles declared their city was no longer the second least affordable place across the United States and Canada. The Canadian city was “beat out,” said the Daily Hive, by “one unexpected US city: Boise, Idaho.”
Boise is officially the second least affordable housing market on the continent. When it comes to housing, only Vancouver, B.C., is worse for home buyers, according to a new study from Oxford Economics, an economic forecasting company in England.
To determine the affordability of a housing market, the Oxford Economics’ Housing Affordability Indices look at whether a city’s median-income household can afford a median-priced home.
With a Housing Affordability Indices score of 1.61, Boise’s home prices are 72% above what a median-income household can afford. The report calls Boise “the most rapidly increasing [Housing Affordability Indices] of any metro in our U.S. projections.”
https://www.seattletimes.com/business/real-estate/boise-is-now-the-least-affordable-housing-market-in-u-s-study-says/