34 US cities where people can barely afford homes

In 15 California cities, at least 13% of households spend at least half of their income on housing.

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In 15 California cities, at least 13% of households spend at least half of their income on housing.
source
Reuters

  • The cost to buy a home is more expensive than it’s ever been.
  • SmartAsset recently released a new report ranking the US cities with the most severely cost-burdened households – households who spend at least half of their income on housing.
  • In 34 cities, at least 13% of households are severely cost-burdened – almost half of the cities are in California.

The housing market is on the climb.

The value of homes has increased by 73% since the 1960s, when adjusted for inflation, Business Insider previously reported, citing a Student Loan Hero report.

It’s so expensive that, in some cities, the average home outweighs the average income by so much that it can take nearly a decade to save for a 20% down payment, according to a SmartAsset report released earlier this year.

Now, SmartAsset is back with new data that highlights the high cost of homeownership: the US cities with the most severely housing cost-burdened households (defined as households who spend more than 50% of their income on housing).

To determine this list, SmartAsset gathered US Census Bureau data for the percentage of severely housing-cost burdened households among homeowners in 167 cities, ranking each city by the amount of people spending at least half of their income on housing.

In 34 cities, 13% or more households spend at least half of their income on housing. Of these cities, 15 are in California, making it the state with the most severely housing-cost burdened cities. Florida ranks second, home to four of the most severely housing cost-burdened cities.

See which other cities made the ranks below.


34. Detroit, Michigan

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Kemboslice/Shutterstock

Percentage of severely housing cost-burdened households: 13.06%


33. Shreveport, Louisiana

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Sean Pavone/Shutterstock

Percentage of severely housing cost-burdened households: 13.12%


32. West Covina, California

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Kit Leong/Shutterstock

Percentage of severely housing cost-burdened households: 13.17%


31. Oxnard, California

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Michael Domingo/Shutterstock

Percentage of severely housing cost-burdened households: 13.25%


30. Escondido, California

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Autumn Sky Photography/Shutterstock

Percentage of severely housing cost-burdened households: 13.29%


29. Boston, Massachusetts

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Songquan Deng/Shutterstock

Percentage of severely housing cost-burdened households: 13.36%


28. Warwick, Rhode Island

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Hank Shiffman/Shutterstock

Percentage of severely housing cost-burdened households: 13.46%


27. San Diego, California

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Dancestrokes/Shutterstock

Percentage of severely housing cost-burdened households:13.51%


26. San Francisco, California

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Bill45/Shutterstock

Percentage of severely housing cost-burdened households: 13.55%


25. Irvine, California

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Steve Cukrov/Shutterstock

Percentage of severely housing cost-burdened households: 13.59%


24. New Orleans, Louisiana

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GTS Productions/Shutterstock

Percentage of severely housing cost-burdened households: 13.62%


23. Norfolk, Virginia

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Henryk Sadura/Shutterstock

Percentage of severely housing cost-burdened households:13.65%


22. Hampton, Virginia

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Sherry V Smith/Shutterstock

Percentage of severely housing cost-burdened households: 13.75%


21. Anaheim, California

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James Kirkikis/Shutterstock

Percentage of severely housing cost-burdened households: 13.88%


20. Fontana, California

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City of Fontana, CA – City Government/Facebook

Percentage of severely housing cost-burdened households: 13.89%


19. Chicago, Illinois

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Shutterstock

Percentage of severely housing cost-burdened households: 14.05%


18. Orange, California

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City of Orange California – Municipal Government/Facebook

Percentage of severely housing cost-burdened households: 14.14%


17. Garden Grove, California

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Gertan Hooijer/Shutterstock

Percentage of severely housing cost-burdened households: 14.31%


16. Thousand Oaks, California

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Niceley/Wikimedia

Percentage of severely housing cost-burdened households: 14.32%


15. Oakland, California

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Oakland, California
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cdrin/shutterstock

Percentage of severely housing cost-burdened households: 14.44%


14. Jurupa Valley, California

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Wikimedia Commons

Percentage of severely housing cost-burdened households: 14.56%


13. Fort Lauderdale, Florida

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Kamira/Shutterstock

Percentage of severely housing cost-burdened households: 15.08%


12. Toms River, New Jersey

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Jerrye & Roy Klotz, MD/Wikimedia COmmons

Percentage of severely housing cost-burdened households: 15.14%


11. Chula Vista, California

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Sherry V. Smith/Shutterstock

Percentage of severely housing cost-burdened households: 15.38%


10. Stamford, Connecticut

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John9474/Flickr Creative Commons

Percentage of severely housing cost-burdened households: 15.42%


9. Norwalk, Connecticut

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shutterstock/Micha Weber

Percentage of severely housing cost-burdened households: 16.26%


8. Yonkers, New York

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John Arehart/Shutterstock

Percentage of severely housing cost-burdened households: 16.34%


7. Hollywood, Florida

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Phillip Pessar/Wikimedia Commons

Percentage of severely housing cost-burdened households: 16.87%


6. New York, New York

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Brian Kinney/Shutterstock

Percentage of severely housing cost-burdened households: 18.11%


5. Los Angeles, California

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Checubus/Shutterstock

Percentage of severely housing cost-burdened households: 19.13%


4. Pompano Beach, Florida

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Jared/Flickr Creative Commons

Percentage of severely housing cost-burdened households: 19.57%


3. Hialeah, Florida

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Flickr/Phillip

Percentage of severely housing cost-burdened households: 21.33%


2. Miami, Florida

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Felix Mizioznikov/Shutterstock

Percentage of severely housing cost-burdened households: 24.58%


1. Newark, New Jersey

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Sean Pavone/Shutterstock

Percentage of severely housing cost-burdened households: 26.4%