Home prices are increasing at a faster rate than wages in 64 percent of U.S. markets, according to a new analysis released this week by real estate data firm ATTOM Data Solutions.
Median home prices nationwide have risen 75 percent since the first quarter of 2012, while average weekly wages have risen just 13 percent over the same time period, according to the analysis. The counties where median home prices require the highest share of average wages are:
- Marin County, Calif. (Bay Area): 133.2 percent
- Kings County, N.Y. (Brooklyn): 123.1 percent
- Santa Cruz County, Calif.: 121.5 percent
- Monterey County, Calif. (Salinas): 100.3 percent
- San Francisco County, Calif.: 97.2 percent
Source:
“U.S. Home Prices at Least Affordable Level Since Q3 2008,” ATTOM Data Solutions (June 19, 2018)