Los Angeles is the No. 1 most ‘unaffordable’ city in the U.S.: Study
To create its ranking, Creditnews used median income for married households in order to determine the percentage of unaffordable neighborhoods. This figure was compared against the typical value of a home in each neighborhood, with areas deemed unaffordable if the monthly mortgage payment was higher than 25% of a couple's household income.Of the 10 cities with the most unaffordable neighborhoods, four are in California. Two cities in the Golden State, Los Angeles and San Jose, were found to be 100% unaffordable for the average married couple household.The city of angels,...
