These Cities Are 'Impossibly Unaffordable'

Hong Kong tops the list of Demographia's latest rankings, with 5 cities in top 10 located in the US
By Jenn Gidman,  Newser Staff
Posted Jun 16, 2024 6:50 AM CDT
These Cities Are 'Impossibly Unaffordable'
Stock photo of Hong Kong skyline.   (Getty Images/pat138241)

Think your rent or mortgage is high? Try living in one of the world's most "impossibly unaffordable" cities. Demographia's International Housing Affordability report for 2024 is out, which assesses the cost of living in 94 major markets in eight countries: the United States, Canada, Australia, New Zealand, the United Kingdom, Ireland, China, and Singapore. The report came up with its list by comparing average incomes with average home prices, notes CNN. Five US cities, all located in America's western reaches, ranked as among the 10 most expensive. Meanwhile, all of the most affordable cities are in the US, with the exception of one Canadian city. Here, the top and bottom 10:

Least affordable

  1. Hong Kong
  2. Sydney
  3. Vancouver, British Columbia
  4. San Jose, California
  5. Los Angeles
  6. Honolulu
  7. Melbourne, Australia
  8. San Francisco; Adelaide, Australia (tie)
  1. San Diego

Most affordable

  1. Pittsburgh
  2. Rochester, New York/St. Louis (tie)
  1. Cleveland
  2. Edmonton, Alberta; Buffalo, New York; Detroit; Oklahoma City (tie)
  1. Cincinnati; Louisville, Kentucky (tie)

See where other cities fall in the rankings here. (More best cities stories.)

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