{"id":11776,"date":"2025-11-24T11:00:01","date_gmt":"2025-11-24T16:00:01","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=11776"},"modified":"2025-11-24T11:14:20","modified_gmt":"2025-11-24T16:14:20","slug":"affordability-index-november-2025","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/affordability-index-november-2025\/","title":{"rendered":"RealtyHop Housing Affordability Index: November 2025"},"content":{"rendered":"
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In this November edition of the RealtyHop Housing Affordability Index, we examine what American households across the 100 largest cities need to spend on housing to find out:<\/span><\/p>\n Is homeownership affordable or possible for the average American family?<\/span><\/i><\/p><\/blockquote>\n Mortgage rates continued to ease following the Federal Reserve\u2019s latest rate cut, reaching their lowest level since 2022. However, with the 30-year fixed rate still hovering above 6%, and will likely remain so as the Fed signaled that there may not be a <\/span>rate cut in December<\/span><\/a>. This, coupled with high home prices, rising utility costs, and insurance premium, the affordability crisis in America is seeing little relief. As always, those thinking about buying should consult with local market experts to understand specific pricing in their area.\u00a0<\/span><\/p>\n Note on this month\u2019s index change: Based on the most recent Census ACS population count, Enterprise, NV has entered the rankings as the 97th most populous city. Richmond, VA has dropped out of the top 100.<\/span><\/i><\/p>\n <\/p>\n Los Angeles<\/span><\/a> remains the country\u2019s least affordable housing market. The city saw a slight rise in the share of income needed to be allocated towards housing, and families can now expect to spend $6,191.86 monthly for a home with the median list price of $1,139,000.<\/span><\/p>\n Irvine<\/span><\/a> is the second least affordable U.S. city in our rankings this month. Households with a median income can expect to spend a staggering $9,365.68 each month on mortgage payments and property taxes, equating to 78.93% of the annual household income.\u00a0<\/span><\/p>\n Miami<\/span><\/a> remained the third least affordable housing market this month. Households making the median income of $65,231 will need to spend 72.54% of it in order to own a home.<\/span><\/p>\n New York City<\/span><\/a> held onto its spot as the fourth least affordable city, with the list price of $890,000. Potential buyers should expect to spend $4,864.09 monthly on homeownership costs.\u00a0<\/span><\/p>\n Newark<\/span><\/a> remained steady as the fifth least affordable housing market. With a median list price of $447,750, an average family in Newark should expect to direct 64.62% of their income towards owning.\u00a0<\/span><\/p>\n Toledo<\/span><\/a> continues to rank as the most affordable city in the U.S. Local families making the median income of <\/span>$52,207<\/span> should expect to spend <\/span>$796.20<\/span> on their monthly mortgage payments and property taxes.\u00a0<\/span><\/p>\n Detroit<\/span><\/a> remains one of the most affordable housing markets in the country. With a median list price of $110,000, households only need to allocate $667.16 a month on homeownership expenses.<\/span><\/p>\n Cleveland<\/span><\/a> remains the third most affordable housing market this month. Prospective buyers need to spend 21.33% of their income on homeownership costs. Out of the top five most affordable cities in our index, Cleveland saw the biggest increase in affordability this month as the median home price decreased 0.8% to $123,900.<\/span><\/p>\n St. Louis<\/span><\/a> fell one spot in the rankings to become the fourth most affordable housing market. Homeowners would need to direct 21.95% of their income towards owning a home with the median price of $192,000.<\/span>\u00a0<\/span><\/p>\n Kansas City<\/span><\/a> remains the fifth most affordable housing market. The median list price sits at $248,000 and households can now expect to spend $1,450.76 monthly on mortgage payments and property taxes.\u00a0<\/span><\/p>\n The following housing markets witnessed significant changes this month:<\/span><\/p>\n Census ACS lists <\/span>Enterprise<\/span><\/a> as the 97th most populous city in America. With the median household income being $103,223 and the monthly estimated mortgage payment being $2910.78, homeowners in Enterprise can expect to spend 33.84% of their income on owning a home.<\/span><\/p>\n Oklahoma City<\/span><\/a> homebuyers can expect to spend less money this month on housing, with monthly costs at around $1,612.51, a .35% drop in the share of income needed to be allocated to homeownership costs since last month. Over the next five years, Oklahoma is projected to see low-income regulation periods expire on more than 1,500 housing units.<\/span><\/p>\n Housing affordability worsened in <\/span>Orlando<\/span><\/a>, making it the 42nd least affordable market in the country, five spots worse than last month. The median home price rose 0.71% to $395,000, and local families would have to\u00a0 spend 35.24% of their annual household income on housing. <\/span>A study from Florida Atlantic University<\/span><\/a> indicates that nearly half of Floridians surveyed would consider leaving due to the cost of living.\u00a0<\/span><\/p>\n The RealtyHop Housing Affordability Index analyzes proprietary and ACS Census data to provide an index of housing affordability and homeownership burden across the 100 most populous cities in the country. Median home prices are calculated using over 800,000 listings in the RealtyHop database over the month before publication.<\/span><\/p>\n To calculate the index, the following statistics are used:<\/span><\/p>\n 1) Projected median household income based on Census ACS and BEA data<\/span><\/p>\n 2) Median for-sale home listing prices via RealtyHop data<\/span><\/p>\n 3) Local property taxes via ACS Census data<\/span><\/p>\n 4) Mortgage expenses, assuming a 30-year mortgage, a 6.23% mortgage interest rate based on reported weekly averages in the past four weeks, and a 20% down payment.<\/span><\/p>\n See below for previous RealtyHop Housing Affordability Studies:<\/b><\/p>\nKey Findings:<\/strong><\/h2>\n
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The 5 Least Affordable Housing Markets<\/strong><\/h2>\n
1. Los Angeles, CA<\/span><\/h3>\n
2. Irvine, CA<\/span><\/h3>\n
3. Miami, FL<\/span><\/h3>\n
4. New York, NY<\/span><\/h3>\n
5. Newark, NJ<\/span><\/h3>\n
The 5 Most Affordable Housing Markets<\/strong><\/h2>\n
1. Toledo, OH<\/span><\/h3>\n
2. Detroit, MI\u00a0<\/span><\/h3>\n
3. Cleveland, OH<\/span><\/h3>\n
4. St. Louis, MO\u00a0<\/span><\/h3>\n
5. Kansas City, MO\u00a0<\/span><\/h3>\n
Housing Markets to Watch<\/strong><\/h2>\n
Enterprise, NV<\/strong><\/h3>\n
Oklahoma City, OK<\/strong><\/h3>\n
Orlando, FL<\/strong><\/h3>\n
Methodology<\/span><\/h2>\n
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