San Diego Surpasses San Francisco As The Least Reasonably priced Metro In The U.S. – NMP
The median home selling price in San Diego rose 14.3% in January 2022 to $764,000, bringing the city’s pricelessness index — a ratio of home selling price to median household income — to 8.1, according to OJO Labs.
Though San Francisco still has the most expensive housing stock of any subway in the U.S., a 4.2% annualized decline in home selling prices in January put San Francisco’s unaffordable value for the first time since OJO Labs began recording the data pushed below 8 in July 2021, according to Patrick Kearns, director of storytelling at OJO Labs. In January 2022, San Francisco’s unaffordability score fell to 7.9 from 9.2 last month.
Other least affordable subways are Los Angeles; Handy, AL; Pensacola, FL; and Boise, ID round out the top five. According to data from OJO Labs real estate search site Movoto by OJO, Austin, TX saw the largest increase in home prices of any metro area in the United States, with home prices rising 35.5% year over year.
On the other hand, Green Bay-Appleton, WI, in terms of homes sold, continued to be the cheapest of the nation’s top 50 metro areas. The median price for a home sold in Green Bay-Appleton was $149,900, an increase of 11.9% over the previous year as of Jan.
