The ''16th Annual Demographia International Housing Affordability Survey: 2020'' analyzed affordability in 8 Anglophone countries. Among this sample, the housing markets with the least affordable real estate prices are

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...

Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...

, and Sydney. The top three housing markets with the most affordable real estate prices based on ''major'' housing markets are

Rochester, New York Rochester () is a city in the U.S. state of New York, the seat of Monroe County, and the fourth-most populous in the state after New York City, Buffalo, and Yonkers, with a population of 211,328 at the 2020 United States census. Located in W ...

, Cleveland, Ohio, and

Oklahoma City, Oklahoma Oklahoma City (), officially the City of Oklahoma City, and often shortened to OKC, is the capital and largest city of the U.S. state of Oklahoma. The county seat of Oklahoma County, it ranks 20th among United States cities in population, and ...

. This survey was performed by Demographia, a global analysis firm.

Methodology

The prices are based on data from the third quarter of 2019. The housing markets ranked are located in Australia,

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

, Hong Kong,

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

, and the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

. The report also includes special coverage on

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...

. The housing markets are ranked on middle income housing affordability, which uses the " median multiple". This was calculated by taking the median house price divided by the median gross pre-tax household income of the housing market. The median multiple is used widely for analyzing housing markets and is recommended by the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

and the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmoniz ...

. It has also been used by the

Joint Center for Housing Studies The Joint Center for Housing Studies is a research center on housing-related issues at Harvard Kennedy School at Harvard University in Cambridge, Massachusetts. Through its research, education, and public outreach programs, the center helps leade ...

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of high ...

. Demographia uses housing affordability ratings to categorize each housing market's median multiple.

List

The report is split into two rankings, one for ''major'' housing markets, and one for ''all'' housing markets. The list below shows the rankings from the most unaffordable housing market to the most affordable housing market for the major housing markets. The list contains 92 housing markets.

References

{{Real estate Real estate lists Geography-related lists

Methodology

List

See also

References