Economists in the USA believe that Americans with medium income should not spend more than 30 percent of their income on housing.
However, in highly sought-after areas such as Los Angeles, San Francisco, and Anaheim, it takes 76-78 percent of a medium income to own a medium-priced home, writes CNBC based on a survey by the real estate company Redfin.
Redfin assumes a down payment of 15 percent, a mortgage rate of 6.72 percent, and local variations in median salaries and housing prices last year.
In California, the housing shortage, strong labor market, and high proportion of high-income earners have pushed up housing prices.
The average housing cost in the USA as a whole was 42 percent of medium income last year.
Housing costs were lowest in Pittsburgh: 25 percent of medium income.
