Executive Housing
Oklahoma City was the most affordable U.S. housing market last year, while San Francisco and Los Angeles were the least affordable, according to a study that monitored housing for mid-level executives in 75 areas. The survey, conducted by Ernst & Young’s Kenneth Leventhal Real Estate Group, compares the cost of buying a four-bedroom home or renting a two-bedroom luxury apartment with the local take-home median household income of the area. This year’s results for most and least affordable, with the area followed by the percentage of take-home pay required for housing costs:
MOST AFFORDABLE
1. Oklahoma City; 19.5%
2. Kansas City, Mo.; 20.9%
3. Houston; 21.4%
4. Tulsa, Okla.; 21.5%
5. St. Louis; 22.0%
6. Central New Jersey; 22.0%
7. Grand Rapids, Mich.; 22.2%
8. Salt Lake City; 22.4%
9. Dallas-Fort Worth; 22.6%
10. Louisville, Ky.; 22.7%
LEAST AFFORDABLE
1. San Francisco; 50.0%
2. Los Angeles; 40.2%
3. Honolulu; 40.0%
4. Oakland; 36.3%
5. Miami; 35.5%
6. San Diego; 35.4%
7. Boston; 35.0%
8. Pittsburgh; 34.4%
9. El Paso; 34.3%
10. New York; 33.9%
