San Diego has appeared in nearly every real estate report over the last 18-24 months, noting the growing increase in both housing interest and prices. Regularly falling within the top five of hottest markets, the SoCal city has a new dubious honor bestowed by OJO Labs: San Diego is now the least affordable metro area in the county.
According to its latest Index, the median home sold price in San Diego climbed 14.3 percent in January to $764,000, bringing the city’s unaffordability score—a ratio of home sold price to median household income—to 8.16. That’s up two points from the previous index.
San Francisco, which has the most expensive housing stock in the country, came in at no. 2 on the index, with an unaffordability score of 7.90, followed by Los Angeles at 7.87. Mobile, Al., Boise and Miami rounded out the top five.
On the other end of the spectrum, Green Bay continues to be the most affordable metro area, where the median sold price in January was $149,900. Cleveland, Buffalo, Detroit and Pittsburgh rounded out the top five.