The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) recently released data from the American Housing Survey (AHS), summarizing the housing costs in the top 25 metropolitan areas as of 2015. Median monthly costs in the top five most populous cities vary between $1,000 and $1,400, and are either at or below the standard 30 percent of income affordability measure.
1. New York City—Newark—Jersey City, N.Y., N.J., Pa.
Median Monthly Housing Cost: $1,371 (28 percent of income)
2. Los-Angeles-Long-Beach-Anaheim, Calif.
Median Monthly Housing Cost: $1,370 (30 percent)
3. Chicago-Naperville-Elgin, Ill., Ind., Wis.
Median Monthly Housing Cost: $1,039 (22 percent)
4. Dallas-Fort Worth-Arlington, Texas
Median Monthly Housing Cost: $1,004 (22 percent)
5. Houston-The Woodlands-Sugarland, Texas
Median Monthly Housing Cost: $984 (21 percent)
The only other metropolitan area of the top 25 with median monthly costs at 30 percent is Miami-Fort Lauderdale-West Palm Beach, Fla., at $1,133. The metropolitan area of the top 25 with the lowest percentage of income needed to afford housing is Pittsburgh, Pa., at 18 percent ($717).
Source: U.S. Census Bureau
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