If you are considering going to live in the United States on a tight budget or you are looking for a city where you can live comfortably, you should know that your ideal city will not be any of those that appear in the big Hollywood productions.
In fact, California, the birthplace of Western cinema, is the US region with the most expensive real estate market relative to wages in the area. On the other side of the table, among the cheapest cities in the country are, in order: Pittsburgh, Oklahoma City and St. Louis.
This top is included in the report, in which house prices are analyzed and compared with the average income of the population, so that the index reflects in which cities the real estate market is balanced and in which it is not.
Once the ratios are calculated, a score is given to each city: an affordable city has 3.0 points or less; a moderately expensive one has between 3.1 and 4.0; a seriously expensive one is rated between 4.1 and 5.0 and an extremely expensive one is rated above 5.1.
These are the 10 cheapest cities in the US
1. Pittsburgh – 2.6 points
2. Oklahoma City – 3.3
3. Rochester – 3.3
4. St.Louis – 3.6
5. Cleveland – 3.7
6. Cincinnati – 3.8
7. Buffalo – 3.9
8.Kansas City-4.0
9.Louisville-4.0
10. Tulsa – 4.0
These are the 10 most expensive cities in the US
1. San Jose – 12.6 points
2. Honolulu – 12.0
3. San Francisco – 11.8
4. Los Angeles – 10.7
5. San Diego – 10.1
6. Miami – 8.1
7. Seattle – 7.5
8. Riverside-St. Bernard – 7.4
9. Denver – 7.2
10. New York – 7.1
The study, prepared by the think tanks The Urban Reform Institute (USA) and the Frontier Center for Public Policy (Canada), explains that in recent years the gap between the cheapest and most expensive cities in USA. Since 2019, the distance between the two extremes is 50% greater, and since the 1970s it has multiplied by six.
“The lower accessibility of housing is a threat to the middle class,” write the authors of the text, who ensure that the rise in mortgage and rent decreases the wealth of households.
The study indicates that the rise in the price of homes began with the introduction of policies that restrict the expansion of cities and the construction of new housing. Regardless of its benefits, urban containment has been associated with a huge escalation in the cost of living and housing relative to income, thus increasing poverty and inequality.
The report also studies the tensions in the real estate market in Canada, China, Ireland, New Zealand, Singapore and the United Kingdom, in addition to the United States, and in the top of the most expensive metropolitan areas are Hong Kong (China), Sydney (Australia) Vancouver (Canada) and San Francisco (USA).
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