More Americans are getting priced out of purchasing homes than ever, as soaring prices continue to outpace wages, according to a new report. ATTOM Data Solutions’ Q4 2019 US Home Affordability Report says the average wage earner can’t purchase a home in 344 out of 486 counties, or about 71% of the US.
The report revealed the top five largest populated counties where median-priced homes outpaced wages in Q4 that made it unaffordable to the average American — were in Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, CA (outside Los Angeles) and Miami-Dade County, FL. The top ten least affordable counties in Q4 were: Kings County, NY; Dallas County, TX; Riverside County, CA; Queens County, NY; and San Bernardino County, CA.
