The 13 Least Affordable Places to Buy a Home

Buying a Home Gets Harder

Homes are less affordable now than they’ve been since the end of 2008, according to an analysis by ATTOM Data Solutions.

The property data company’s affordability index reached an eight-year low in the first quarter of 2017. The index measures wages against home prices.

The most recent index of 103 means 33.6% of average weekly wages were needed to buy a median-priced home. Rising home prices and mortgage rates drove the drop in affordability, said Daren Blomquist, senior vice president of ATTOM Data Solutions.

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The Least Affordable Counties

A county’s affordability depends not only on home prices but how much people make there. In 13 of the 379 counties ATTOM analyzed for its report, average wage earners would need to spend more than 80% of their income to buy a median-priced home. In five of the counties, average wage earners would need more than 100% of their income.

Kings County, New York, better known as Brooklyn, topped the list. An average wage earner there would need 121.4% of their income to buy a median-priced income.

Remember, your credit score will play a large role in whether you get a mortgage — and you might need a high one in these counties so the home is a bit more affordable. You can view two of your scores for free, updated every 14 days, on Credit.com. And here are a bunch of other ways to get ready for buying a home.

Click through our slideshow see all the least affordable counties to buy a home. A note on the data: The percentages are based on the amount needed to make monthly payments on a median-priced home with a 30-year fixed mortgage and a 3% down payment, including property taxes, home insurance and mortgage insurance (full explainer on confusing mortgage terms here).

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13. Honolulu County, Hawaii

Q1 2017 Median Sales Price: $517,052
Percentage of Wages Needed to Buy: 82.5%

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12. Orange County, California

Q1 2017 Median Sales Price: $620,000
Percentage of Wages Needed to Buy: 83.2%

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11. San Francisco, California

Q1 2017 Median Sales Price: $1,052,500
Percentage of Wages Needed to Buy: 84.3%

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10. Sonoma County, California

Q1 2017 Median Sales Price: $532,500
Percentage of Wages Needed to Buy: 84.3%

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9. Queens County, New York

Q1 2017 Median Sales Price: $565,000
Percentage of Wages Needed to Buy: 89.5%

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8. San Luis Obispo County, California

Q1 2017 Median Sales Price: $513,250
Percentage of Wages Needed to Buy: 92.8%

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7. Monterey County, California

Q1 2017 Median Sales Price: $530,000
Percentage of Wages Needed to Buy: 93.7%

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6. Napa County, California

Q1 2017 Median Sales Price: $611,591
Percentage of Wages Needed to Buy: 93.9%

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5. Maui County, California

Q1 2017 Median Sales Price: $540,000
Percentage of Wages Needed to Buy: 100.2%

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4. New York County (Manhattan), New York

Q1 2017 Median Sales Price: $1,425,000
Percentage of Wages Needed to Buy: 100.5%

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3. Marin County, California

Q1 2017 Median Sales Price: $912,000
Percentage of Wages Needed to Buy: 109.9%

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2. Santa Cruz County, California

Q1 2017 Median Sales Price: $665,000
Percentage of Wages Needed to Buy: 111.9%

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1. Kings County (Brooklyn), New York

Q1 2017 Median Sales Price: $675,000
Percentage of Wages Needed to Buy: 121.4%

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