A study conducted by Biz Journals.com ranked the 50 largest housing markets in the U.S. by affordability. The study looked at median home prices, household income and property taxes to find what percentage of monthly income was allocated to housing costs in each market.
Austin ranked 22, with Oklahoma City coming in # 1 (most affordable) and Los Angeles # 50 (least affordable). Austin showed the median housing cost as 26.78% of household income. This compares to a city like New York, where the cost of housing is 59% of household income. The study considers any cost under 30% as an affordable market. Other affordable markets include San Antonio (# 2), Houston ( # 8), Dallas (#15) and Nashville (#16).
