The 15th annual Demographia International Housing Affordability Survey is out and reveals San Jose and San Francisco are among the most expensive for housing in the world, both landing in the top 10.
Hong Kong is the most expensive, according to the survey, with the cost of a median home 20.9 times more than the median income. San Jose (9.4) checks in at five and San Francisco (8.8) at eight.
The report also singles out California as "home to the most serious housing affordability crisis in the United States."
California also has the highest rate of homelessness in the United States, with the report noting homeless encampments in San Jose and San Francisco. Those two cities have among the highest median household incomes in the country, according to the report.
A plan to bring more affordable housing to the Bay Area is in the works. The MTC and ABAG boards have approved the CASA plan.
Submit your comment
In order to receive a reply to your comment, please provide an email address.