Washington Has 6 Of 26 US Counties With Unaffordable Homeownership
Many are saying that the real estate market is crazy right now. Home prices even in small towns jumped to record prices. This is making home ownership out of reach for many. MoneyGeek recently put out a report of the top 26 counties where homeownership is currently out of reach. Washington State has 6 counties on that small list.
MoneyGeek didn’t look at the smallest counties in the country. It looked at counties with more than 250,000 people. The county had to also be seeing population growth. Their analysts also took a look at how much home prices have gone up since 2019. Finally, MoneyGeek compared the cost of owning a home to the local median income.
The counties started rolling in for Washington state at #10 with Kitsap County, Washington. The others are Spokane County, Snohomish County, Pierce County, Thurston County, and Clark County, Washington.
There were some outlier data introduced to the study. For instance, counties like San Francisco County and New York County did not make the list because those cities have been considered “unaffordable” for too many years to qualify. The same goes for King County Washington, Los Angeles County, and Santa Clara County (Silicon Valley area). The median home price tops $1.1 million in San Francisco, New York, and Santa Clara.
This is the list of counties where home ownership has grown unaffordable since 2019, according to MoneyGeek.
1. Ada County, Idaho
2. Collier County, Idaho
3. Travis County, Texas
4. Williamson County, Texas
5.Washoe County, Nevada
6.Douglas County, Colorado
7. Davis County, Utah
8. Larger County, Colorado
9. Salt Lake County, Utah
10. Kitsap County, Washington
11. St. John’s County, Florida
12. Sacramento County, California
13. Spokane County, Washington
14. Snohomish County, Washington
15. Merced County, California
16. Clark County, Nevada
17. Pierce County, Washington
18. Sarasota County, Fla
19. Charleston County, South Carolina
20. Thurston County, Washington
21. Jefferson County, Colorado
22. Marion County, Oregon
23. Collin County, Texas
24. Maricopa County, Arizona
25. Buncombe County, North Carolina
26. Clark County, Washington