This CA City Is The Least Affordable On Earth To Buy A Home, Analysis Finds

SAN JOSE, CA — San Jose is the least affordable city to buy a home on Earth, according to a recent analysis by money transfer service Remitly.

The analysis looked at 151 cities in the most popular countries to move to, considering property costs, salaries, mortgage and interest rates, down payments and more.

In San Jose, where Zillow reports the average home value is nearly $1.38 million, a couple earning the local average salary of $86,605 and pooling their funds would be able to afford only 54.6 percent of the average property, according to the analysis.

“With sky-high prices, even for modest sized properties, many buyers struggle to afford a home of their own, despite strong local incomes,” according to Remitly.

Many California cities were determined to be unaffordable, with the top 10 least-affordable ranking putting Los Angeles at No. 2, Long Beach at No. 3 and San Diego at No. 4.

Next on the list were Vancouver, Canada; Paris, France; Porto, Portugal; New York City and Miami, with San Francisco rounding out the top 10.

The most affordable city was Detroit, according to the analysis, where a typical couple could afford almost five times the average property price.