A new Zillow report shows Buffalo, St. Louis, and Pittsburgh leading the nation in housing affordability, while cities in California and New England lag far behind, The Hill reported.
Finding a reasonably priced home has grown increasingly difficult across much of the United States, but fresh data from Zillow indicates some markets are offering a clearer path to affordability.
The report found that Buffalo, New York, tops the list, with about 55% of homes on the market deemed affordable for households earning the median income. St. Louis followed closely at 54.5%, with Pittsburgh rounding out the top three at 54.3%. Many cities east of the Mississippi River reported similar trends, with more than half of their housing inventory considered within reach for middle-income families.
Zillow's findings underscore a growing divide between regions.
While affordability is improving in several major Midwest and East Coast markets, residents in the West — particularly California — continue to struggle. Only 3% of homes listed in Los Angeles qualify as affordable for median-income buyers, the lowest share in the nation. San Diego came in second at 6.4%, with Providence, Rhode Island, at 9.1%.
Boston also landed on the list of least affordable markets, with just 11.9% of available homes within reach for typical earners. In New York, 12.5% of homes were considered affordable, while San Francisco showed only 13.6%. Seattle rounded out the bottom 10 at 15.5%.
Here are the least affordable cities:
1. Los Angeles – 3%
2. San Diego – 6.4%
3. Providence, Rhode Island – 9.1%
4. Sacramento, California – 11.3%
5. San Jose, California – 11.4%
6. Boston – 11.9%
7. New York – 12.5%
8. Riverside, California – 13.2%
9. San Francisco – 13.6%
10. Seattle – 15.5%
Nationally, the affordability gap reflects the sharp rise in housing costs over the past five years. Mortgage payments have more than doubled in many markets, placing additional strain on would-be buyers.
Still, there are signs of relief.
Mortgage buyer Freddie Mac reported Thursday that rates have dropped to their lowest level in 10 months. The average 30-year fixed rate fell to 6.56%, down from 6.58% last week. A year ago, the average stood at 6.35%.
The modest decline may offer some help to buyers navigating a market defined by stark contrasts between regions.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.