Here are 25 of America's least affordable housing markets
20 of the 25 most expensive housing markets are in the states of New York or California
20 of the 25 most expensive housing markets are in the states of New York or California
Buying a home in the US is no easy feat, and it can be especially difficult in expensive markets. High rental and home prices typically indicate strong demand, and some of the least affordable locations had prices increase by 15 percent in 2016.
A silver lining - the US housing market did improve last year - foreclosure rates dropped while home purchase rates increased. Economic experts predict the market will continue getting better, though interest rates are on the rise following the Federal Reserve's recent hike.
New York City-based created a list of the nation's most unaffordable - areas that are experiencing higher rent and home purchase rates. The company examined US home and rental costs from an in-depth analysis by real estate firm ATTOM Data Solutions, which took its numbers from US Department of Housing and Urban Development statistics.
Here are the most expensive housing markets in the US:
25. Contra Costa, California
24. Nassau, New York
23. Richmond, New York
22. Alameda, California
21. Santa Barbara, California
20. Queens, New York
19. Westchester, New York
18. Nevada, California
17. Rockland, New York
16. San Francisco, California
15. San Mateo, California
14. Cape May, New Jersey,
13. Ventura, California
12. Sonoma, California
11. Orange, California
10. Monterey, California
9. Napa, California
8. San Luis Obispo, California
7. Honolulu, Hawaii
6. Maui, Hawaii
5. Eagle, Colorado
4. Kings, New York
3. Monroe, Florida
2. Santa Cruz, California
1. Marin, California