A recent report from Zillow reveals that several major U.S. cities are witnessing an increase in affordable housing options for residents. The data indicates that more homes are now within financial reach for those earning a median income, particularly in cities located east of the Mississippi River.
The report highlights that approximately 55.1% of homes listed in Buffalo, New York, are deemed affordable for median-income households. Following closely are St. Louis, Missouri, with 54.5%, and Pittsburgh, Pennsylvania, at 54.3%. This trend is a significant development in the ongoing challenge of housing affordability across the nation.
Top Cities for Affordable Housing
According to Zillow’s findings, the following cities top the list for the highest percentage of homes considered affordable:
1. Buffalo, NY – 55.1%
2. St. Louis, MO – 54.5%
3. Pittsburgh, PA – 54.3%
4. Detroit, MI – 52.8%
5. Cincinnati, OH – 50.1%
6. Indianapolis, IN – 48.5%
7. Baltimore, MD – 48.1%
8. Birmingham, AL – 45.1%
9. Minneapolis, MN – 43.2%
While many cities in the eastern U.S. are experiencing this surge, the opposite is true in the western region, particularly in California.
Challenges in Western Cities
In stark contrast to their eastern counterparts, residents in California face significant challenges in finding affordable homes. According to the report, only 3% of homes listed in the Los Angeles area are considered affordable for those earning a median income. San Diego follows with just 6.4% of homes fitting this category.
The situation is also bleak in parts of New England. In Providence, Rhode Island, only 9.1% of homes are priced within reach for median-income residents, while Boston is slightly better at 11.9%.
The following cities rank lowest in terms of affordable housing availability:
1. Los Angeles, CA – 3%
2. San Diego, CA – 6.4%
3. Providence, RI – 9.1%
4. Sacramento, CA – 11.3%
5. San Jose, CA – 11.4%
6. Boston, MA – 11.9%
7. New York, NY – 12.5%
8. Riverside, CA – 13.2%
9. San Francisco, CA – 13.6%
10. Seattle, WA – 15.5%
As the housing market continues to evolve, the disparities between cities highlight the need for targeted policies and initiatives aimed at improving affordability. For more detailed information on the housing market in your area, you can access Zillow’s full study on their website.
