Guess Which Market is the World’s Least Affordable? – NMP Skip to main content

Guess Which Market is the World’s Least Affordable?

Jan 26, 2016
While affordable housing has become a thorny sociopolitical issue in the U.S., it has become virtually extinct in Hong Kong

While affordable housing has become a thorny sociopolitical issue in the U.S., it has become virtually extinct in Hong Kong. For the sixth consecutive year, Hong Kong has been named the world’s least affordable housing market, where housing costs measure at 19 times the median annual household income, according to a survey by Belleville, Ill.-based public policy firm Demographia.

The Demographia study focused on nine countries–Australia, Canada, China (including Hong Kong), Ireland, Japan, New Zealand , Singapore, the United Kingdom and the U.S.–and covered 367 metropolitan markets. Following Hong Kong on the list of least affordable housing markets was Sydney, followed by Vancouver and a tie for fourth place between Melbourne, Auckland and San Jose. Other U.S. cities in the top 10 list of least affordable housing markets were San Francisco in seventh place and Los Angeles and San Diego tied for ninth.

But at the other end of the spectrum, U.S. metro areas made up 10 of the 12 metropolitan areas ranked as being among the most affordable housing markets in the world (three were tied for tenth place.) Limerick, Ireland, took the top spot on that list, with seven U.S. markets–Cumberland, Md.; Decatur, Ill., Elmira, N.Y.; Kankakee, Ill., Rockford, Ill.; Topeka, Kan.; and Youngstown, Pa.–tied with Waterford, Ireland, for second place.

About the author
Published
Jan 26, 2016
Better's Mortgage Volume Rises 15%, But Losses Persist

Better is targeting a bigger share of wholesale lending, with plans to expand into Non-QM and conventional mortgages

Nov 10, 2026
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026