Los Angeles now the least affordable housing market in the U.S.

California still stakes its claim as having the least affordable housing market in the country, but the specific spot is now occupied by Los Angeles, not San Francisco.

Only 11.3 percent of homes sold during the fourth quarter of 2019 were considered affordable to families earning the median income in the Los Angeles-Long Beach-Glendale metro area. The San Francisco metro — which had been the nation’s least affordable major housing market for the past two years — moved to No. 2, with 12.3 percent of homes sold considered affordable to families earning the area’s median income.

California actually claimed nine of the 10 least affordable individual housing markets at the end of the year, which underscores the challenges relocating employees face when moving to the state. On the flip side, 91.5 percent of homes sold in Indianapolis in the fourth quarter were considered affordable, making it the most affordable major housing market.

The NAHB makes a ton of great data available, so take a look at some of the stats for areas where you have high mobility volume and consider discussing what they mean for your program with your relocation provider.