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America's best and worst cities for housing affordability ranked
foxbusiness.com • • business
Key Points:
- A new Realtor.com report grades the 100 largest U.S. metro areas on housing affordability and new home construction pace, reflecting both current market conditions and future outlooks.
- Midwestern and Sun Belt cities like Des Moines, Raleigh, and Houston scored highest for affordability, while expensive coastal cities such as Los Angeles, New York City, and Boston ranked lowest.
- The U.S. faces a housing shortage exceeding 4 million homes, with builders challenged by rising costs and reduced buyer demand due to high mortgage rates and low affordability.
- High-ranking metros benefit from supportive local governments with less restrictive zoning, faster permitting, strong job growth, and abundant land, enabling more effective housing development.
- Experts suggest that revising local zoning laws is a key step for officials aiming to improve housing affordability in their regions.
