Huffpost Hawaii

The 10 Least Affordable Major Metro Areas (PHOTOS)

Posted: Updated:

There are some obvious benefits to big city living -- there's always something to do, something to see or someone to do and see it all with -- but if you want to venture to a major urban area without breaking the bank then we have some advice for you. Do not head to California. And if you do, just stay away from the majority of our list below.

Thanks to the latest data from the Housing Opportunity Index from the National Association of Home Builders and Wells Fargo, which determined the percentage of homes sold that are considered affordable at median sales price for median income families in each respective area with a population of over 500,000 (see below for more details), we can officially declare these major metro areas as anything but wallet-friendly.

Granted that just might be the (literal) price you pay to live in the city that never sleeps, the one where stars are born and several other of America's favorites.

  • 10
    Honolulu, HI
    Getty
    Population: 976,372
    Median Home Price: $430,000
    Median Income: $86,300

    Percentage Of Homes Sold That Are Affordable: 46.8
  • 9
    Bridgeport, CT -- Stamford, CT -- Norwalk, CT
    Getty
    Population: 925,899
    Median Home Price: $351,000
    Median Income: $87,900

    Percentage Of Homes Sold That Are Affordable: 46.7
  • 8
    Oakland, CA -- Fremont, CA -- Hayward, CA
    Getty
    Population: 772,118
    Median Home Price: $450,000
    Median Income: $89,200

    Percentage Of Homes Sold That Are Affordable: 37.9
  • 7
    Oxnard, CA -- Thousand Oaks, CA -- Ventura, CA
    Getty
    Population: 835,981
    Median Home Price: $432,000
    Median Income: $86,700

    Percentage Of Homes Sold That Are Affordable: 36.7
  • 6
    San Diego, CA -- Carlsbad, CA -- San Marcos, CA
    Getty
    Population: 3,177,000
    Median Home Price: $409,000
    Median Income: $72,300

    Percentage Of Homes Sold That Are Affordable: 29.0
  • 5
    San Jose, CA -- Sunnyvale, CA -- Santa Clara, CA
    Getty
    Population: 1,838,000
    Median Home Price: $625,000
    Median Income: $101,300

    Percentage Of Homes Sold That Are Affordable: 26.0
  • 4
    New York, NY -- White Plains, NY -- Wayne, NJ
    Getty
    Population: 19,831,858
    Median Home Price: $460,000
    Median Income: $66,000

    Percentage Of Homes Sold That Are Affordable: 23.4
  • 3
    Los Angeles, CA -- Long Beach, CA -- Glendale, CA
    Getty
    Population: 9,963,000
    Median Home Price: $424,000
    Median Income: $61,900

    Percentage Of Homes Sold That Are Affordable: 20.6
  • 2
    Santa Ana, CA -- Anaheim, CA -- Irvine, CA
    Getty
    Population: 3,090,000
    Median Home Price: $557,000
    Median Income: $84,100

    Percentage Of Homes Sold That Are Affordable: 20.0
  • 1
    San Francisco, CA -- San Mateo, CA -- Redwood City, CA
    Getty
    Population: 1,004,542
    Median Home Price: $800,000
    Median Income: $101,200

    Percentage Of Homes Sold That Are Affordable: 14.1

Source: National Association of Home Builders/Wells Fargo Housing Opportunity Index. Metro area population data is from Census Bureau. The Housing Opportunity Index is the percentage of new and existing homes sold that families earning the area's median income could afford during the fourth quarter ended December 31, 2013. Prices of new and existing homes are based on figures from CoreLogic and mortgage data is based on rates reported by the Federal Housing Financing Agency.

For more: Head over to the National Association of Home Builders to view the reports on affordability ranking, affordability by population and more.

Have something to say? Check out HuffPost Home on Twitter, Facebook, Pinterest, Tumblr and Instagram.

**

Do you have a home story idea or tip? Email us at homesubmissions@huffingtonpost.com. (PR pitches sent to this address will be ignored.)

Also on HuffPost:

10 Homes Over $100 Million Dollars
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction

Around the Web

10 least affordable cities to buy a home - New York (1) - CNNMoney

The 10 Most and Least Affordable Cities in the US - Lifehacker

The Least Affordable Cities Worldwide Are ... | Realtor Magazine