In recent years, the increasing cost of real estate has made it difficult for many locals to afford homes in their communities. MoneyGeek analyzed changes in homeownership costs, home price appreciation and median incomes from 2019 to 2022 to reveal 26 counties in the U.S. where the housing market is no longer affordable.
Key Findings:
- Boise, Idaho, and Naples, Florida, top our list of places that have recently become unaffordable. With housing appreciating 59% in Boise and 70% in Naples since 2019, these places have become significantly more expensive, despite their populations growing faster than the national average.
- Outlying counties of high-growth metros have become unaffordable. Austin and Round Rock, Texas's counties rank third and fourth on our list. Douglas County outside of Denver, Colorado, also ranks high, with a house price appreciation of 43% since 2019.
- Following Denver, Snohomish County outside of Seattle, Washington, tops the list for highest median home prices at $555,495.
- 20 of the 26 areas with the most recently unaffordable homes are in the western United States.
US Counties Where Homeownership Is Recently Unaffordable
To find our list of recently unaffordable counties, MoneyGeek narrowed down counties with populations larger than 250,000 that had population growth above the national average. The analysis examined three factors in these counties: home price appreciation since 2019, the ratio of homeownership costs to rent and homeownership costs as a percentage of median income.
Top 5 Counties in the US Where Housing Is No Longer Affordable
Below are the top five counties where housing costs have increased the most in the past three years and some of the factors affecting their high cost of living.
Ada County, Idaho
Housing prices are rising much faster than incomes in Idaho’s most populous county, known for its urban and rural landscapes.
Collier County, Florida
In this vacationer’s destination known as “Paradise Coast,” low-interest rates and an influx of buyers from expensive cities like New York City are driving up home prices.
Travis County, Texas
High demand for homes with few houses in supply is steadily increasing homeownership costs in this south-central region of Texas. Notably, this county is also home to Austin, Texas, which has seen staggering growth in the past decade.
Williamson County, Texas
An influx of people moving to the suburbs of Austin is increasing home costs in this Texas community.
Washoe County, Nevada
With a population of nearly half a million, this county borders California and Oregon and owes its increasing unaffordability to a combination of low inventory and rising demand.
26 Counties in the US Where Housing Is No Longer Affordable
- 1. Ada County, IdahoMetro Area:Boise City
- 59.3%Home Price Appreciation in the Last 3 Years
- $452,219Median Home Price
- 81%Home Costs as % of Income
- $35,086Median Income
- 2. Collier County, FloridaMetro Area:Naples | Immokalee | Marco Island
- 69.5%Home Price Appreciation in the Last 3 Years
- $435,313Median Home Price
- 85%Home Costs as % of Income
- $32,033Median Income
- 3. Travis County, TexasMetro Area:Austin | Round Rock
- 50.1%Home Price Appreciation in the Last 3 Years
- $456,690Median Home Price
- 78%Home Costs as % of Income
- $43,376Median Income
- 4. Williamson County, TexasMetro Area:Austin | Round Rock
- 58.0%Home Price Appreciation in the Last 3 Years
- $378,412Median Home Price
- 69%Home Costs as % of Income
- $41,446Median Income
- 5. Washoe County, NevadaMetro Area:Reno
- 46.9%Home Price Appreciation in the Last 3 Years
- $460,647Median Home Price
- 77%Home Costs as % of Income
- $37,078Median Income
- 6. Douglas County, ColoradoMetro Area:Denver | Aurora | Lakewood
- 43.4%Home Price Appreciation in the Last 3 Years
- $608,917Median Home Price
- 68%Home Costs as % of Income
- $55,010Median Income
- 7. Davis County, UtahMetro Area:Ogden | Clearfield
- 34.1%Home Price Appreciation in the Last 3 Years
- $428,765Median Home Price
- 73%Home Costs as % of Income
- $36,597Median Income
- 8. Larimer County, ColoradoMetro Area:Fort Collins
- 43.6%Home Price Appreciation in the Last 3 Years
- $471,907Median Home Price
- 78%Home Costs as % of Income
- $36,783Median Income
- 9. Salt Lake County, UtahMetro Area:Salt Lake City
- 38.7%Home Price Appreciation in the Last 3 Years
- $449,365Median Home Price
- 77%Home Costs as % of Income
- $36,527Median Income
- 10. Kitsap County, WashingtonMetro Area:Bremerton | Silverdale
- 45.5%Home Price Appreciation in the Last 3 Years
- $452,417Median Home Price
- 72%Home Costs as % of Income
- $41,214Median Income
- 11. St. Johns County, FloridaMetro Area:Jacksonville
- 41.9%Home Price Appreciation in the Last 3 Years
- $392,732Median Home Price
- 63%Home Costs as % of Income
- $40,897Median Income
- 12. Sacramento County, CaliforniaMetro Area:Sacramento | Roseville | Arden | Arcade
- 40.8%Home Price Appreciation in the Last 3 Years
- $459,373Median Home Price
- 74%Home Costs as % of Income
- $39,434Median Income
- 13. Spokane County, WashingtonMetro Area:Spokane | Spokane Valley
- 38.6%Home Price Appreciation in the Last 3 Years
- $328,400Median Home Price
- 65%Home Costs as % of Income
- $33,812Median Income
- 14. Snohomish County, WashingtonMetro Area:Seattle | Tacoma | Bellevue
- 37.7%Home Price Appreciation in the Last 3 Years
- $555,495Median Home Price
- 77%Home Costs as % of Income
- $46,920Median Income
- 15. Merced County, CaliforniaMetro Area:Merced
- 44.7%Home Price Appreciation in the Last 3 Years
- $329,284Median Home Price
- 67%Home Costs as % of Income
- $30,889Median Income
- 16. Clark County, NevadaMetro Area:Las Vegas | Henderson | Paradise
- 47.6%Home Price Appreciation in the Last 3 Years
- $358,832Median Home Price
- 63%Home Costs as % of Income
- $35,145Median Income
- 17. Pierce County, WashingtonMetro Area:Seattle | Tacoma | Bellevue
- 36.5%Home Price Appreciation in the Last 3 Years
- $425,613Median Home Price
- 70%Home Costs as % of Income
- $41,269Median Income
- 18. Sarasota County, FloridaMetro Area:North Port | Sarasota | Bradenton
- 54.7%Home Price Appreciation in the Last 3 Years
- $325,911Median Home Price
- 65%Home Costs as % of Income
- $31,933Median Income
- 19. Charleston County, South CarolinaMetro Area:Charleston | North Charleston
- 52.5%Home Price Appreciation in the Last 3 Years
- $396,168Median Home Price
- 57%Home Costs as % of Income
- $41,782Median Income
- 20. Thurston County, WashingtonMetro Area:Olympia | Tumwater
- 28.9%Home Price Appreciation in the Last 3 Years
- $408,162Median Home Price
- 68%Home Costs as % of Income
- $40,028Median Income
- 21. Jefferson County, ColoradoMetro Area:Denver | Aurora | Lakewood
- 32.1%Home Price Appreciation in the Last 3 Years
- $536,759Median Home Price
- 69%Home Costs as % of Income
- $47,438Median Income
- 22. Marion County, OregonMetro Area:Salem
- 25.7%Home Price Appreciation in the Last 3 Years
- $341,919Median Home Price
- 72%Home Costs as % of Income
- $31,677Median Income
- 23. Collin County, TexasMetro Area:Dallas | Fort Worth | Arlington
- 27.0%Home Price Appreciation in the Last 3 Years
- $403,500Median Home Price
- 60%Home Costs as % of Income
- $50,681Median Income
- 24. Maricopa County, ArizonaMetro Area:Phoenix | Mesa | Scottsdale
- 42.7%Home Price Appreciation in the Last 3 Years
- $365,197Median Home Price
- 61%Home Costs as % of Income
- $36,856Median Income
- 25. Buncombe County, North CarolinaMetro Area:Asheville
- 40.4%Home Price Appreciation in the Last 3 Years
- $315,927Median Home Price
- 62%Home Costs as % of Income
- $31,927Median Income
- 26. Clark County, WashingtonMetro Area:Vancouver | Portland | Hillsboro
- 26.1%Home Price Appreciation in the Last 3 Years
- $430,970Median Home Price
- 69%Home Costs as % of Income
- $41,096Median Income
Why Housing Is Becoming Unaffordable in the US
By the fourth quarter of 2021, the Case-Shiller U.S. National Home Price index had risen by 18.6% within the previous 12 months. It's no wonder that nearly 50% of Americans are concerned about affordability, wondering if they can handle soaring mortgage payments.
Supply chain-related delays and labor shortages exacerbated by the COVID-19 pandemic are slowing new home construction, meaning houses aren’t being built fast enough to satisfy demand. With a tight inventory of available homes, home prices are quickly rising.
Another driving factor for home demand is increasing rates of remote work. According to a Pew Research Center study, U.S. workers who say their jobs can mainly be done from home (59%) are working remotely all or most of the time. As more Americans don’t have to contend with lengthy commutes, they’re opting for homes outside of expensive cities in more affordable suburbs, where they can find more living space for their money.
"Our business started skyrocketing in May 2020. Because of the pandemic, many people were spending more time in their homes and working remotely," says Sharon Ayers, a North Carolina-based loan consultant who works with a national homebuilder. "People wanted bigger homes and families were moving in together and needing more space, like a mother-in-law suite."
For buyers that can purchase a home, the increasing costs of homeownership — including rising home insurance premiums — can make it difficult for some to keep up with their mortgages. The real estate market is still expected to see rising prices continue to put pressure on affordability in 2022, according to the U.S. News & World Report.
Expert Advice: How to Navigate Rising Home Prices
If you plan to buy a home in 2022, these four experts have advice to help you navigate declining affordability in the country’s most expensive real estate markets.
- What advice do you have for someone looking for affordable housing?
- What are some of the most important considerations for homebuyers in this current market?
- What can someone do to improve their chances of getting approved?
- What else should homebuyers know?
Methodology
MoneyGeek analyzed historical home prices, fair market rents and median mortgage payments from the National Association of Realtors, local property tax rates from SmartAsset, and population growth and median earnings from the U.S. Census by county to find counties in the U.S. that had recently become unaffordable.
Counties identified as recently unaffordable in the list above met the following criteria:
- Populations larger than 250,000
- Population growth greater than the average population growth in the country
- A 2019 ratio of income-to-mortgage expenses that was less than 60%
- House price appreciation since 2019 that was greater than 25%
- Monthly homeownership was over 50% of the median income in the county
To order the list of places, we combined the following three factors into a score:
- Price appreciation since 2019: double weight
- The ratio of homeownership costs to rent
- Homeownership costs as % of median income
Full Data Set
The data points presented are defined as follows:
- Metro Area: The metropolitan statistical area where each county is located.
- Median Income: The median income in the county.
- Median Home Price: The median home price in the county.
- Monthly Homeownership Cost: The median monthly homeownership cost in the county.
- Home Costs as % of Income: Housing costs in the county divided by the median income in the county, multiplied by 100.
- Home Price Appreciation in the Last 3 Years: House price appreciation in the county from 2019 to 2021.
- Own/Rent Ratio: The number of people who own homes divided by the number of people who rent in the county.
Rank | County | Metro Area | Median Income | Median Home Price | Monthly Homeownership Cost | Home Costs as % of Income | Home Price Appreciation in the Last 3 Years | Own/Rent Ratio |
---|---|---|---|---|---|---|---|---|
1 | Ada County, Idaho | Boise City, ID | $35,086 | $452,219 | $2,368 | 81% | 59.3% | 2.1 |
2 | Collier County, Florida | Naples-Immokalee-Marco Island, FL | $32,033 | $435,313 | $2,265 | 85% | 69.5% | 1.4 |
3 | Travis County, Texas | Austin-Round Rock, TX | $43,376 | $456,690 | $2,806 | 78% | 50.1% | 1.9 |
4 | Williamson County, Texas | Austin-Round Rock, TX | $41,446 | $378,412 | $2,385 | 69% | 58.0% | 1.6 |
5 | Washoe County, Nevada | Reno, NV | $37,078 | $460,647 | $2,370 | 77% | 46.9% | 1.7 |
6 | Douglas County, Colorado | Denver-Aurora-Lakewood, CO | $55,010 | $608,917 | $3,137 | 68% | 43.4% | 1.9 |
7 | Davis County, Utah | Ogden-Clearfield, UT | $36,597 | $428,765 | $2,220 | 73% | 34.1% | 2.0 |
8 | Larimer County, Colorado | Fort Collins, CO | $36,783 | $471,907 | $2,397 | 78% | 43.6% | 1.7 |
9 | Salt Lake County, Utah | Salt Lake City, UT | $36,527 | $449,365 | $2,334 | 77% | 38.7% | 1.8 |
10 | Kitsap County, Washington | Bremerton-Silverdale, WA | $41,214 | $452,417 | $2,463 | 72% | 45.5% | 1.6 |
11 | St. Johns County, Florida | Jacksonville, FL | $40,897 | $392,732 | $2,131 | 63% | 41.9% | 1.8 |
12 | Sacramento County, California | Sacramento-Roseville-Arden-Arcade, CA | $39,434 | $459,373 | $2,436 | 74% | 40.8% | 1.6 |
13 | Spokane County, Washington | Spokane-Spokane Valley, WA | $33,812 | $328,400 | $1,834 | 65% | 38.6% | 1.8 |
14 | Snohomish County, Washington | Seattle-Tacoma-Bellevue, WA | $46,920 | $555,495 | $3,020 | 77% | 37.7% | 1.6 |
15 | Merced County, California | Merced, CA | $30,889 | $329,284 | $1,729 | 67% | 44.7% | 1.5 |
16 | Clark County, Nevada | Las Vegas-Henderson-Paradise, NV | $35,145 | $358,832 | $1,855 | 63% | 47.6% | 1.5 |
17 | Pierce County, Washington | Seattle-Tacoma-Bellevue, WA | $41,269 | $425,613 | $2,392 | 70% | 36.5% | 1.6 |
18 | Sarasota County, Florida | North Port-Sarasota-Bradenton, FL | $31,933 | $325,911 | $1,737 | 65% | 54.7% | 1.3 |
19 | Charleston County, South Carolina | Charleston-North Charleston, SC | $41,782 | $396,168 | $1,988 | 57% | 52.5% | 1.4 |
20 | Thurston County, Washington | Olympia-Tumwater, WA | $40,028 | $408,162 | $2,256 | 68% | 28.9% | 1.8 |
21 | Jefferson County, Colorado | Denver-Aurora-Lakewood, CO | $47,438 | $536,759 | $2,730 | 69% | 32.1% | 1.6 |
22 | Marion County, Oregon | Salem, OR | $31,677 | $341,919 | $1,910 | 72% | 25.7% | 1.7 |
23 | Collin County, Texas | Dallas-Fort Worth-Arlington, TX | $50,681 | $403,500 | $2,520 | 60% | 27.0% | 1.8 |
24 | Maricopa County, Arizona | Phoenix-Mesa-Scottsdale, AZ | $36,856 | $365,197 | $1,876 | 61% | 42.7% | 1.4 |
25 | Buncombe County, North Carolina | Asheville, NC | $31,927 | $315,927 | $1,644 | 62% | 40.4% | 1.4 |
26 | Clark County, Washington | Portland-Vancouver-Hillsboro, OR-WA | $41,096 | $430,970 | $2,360 | 69% | 26.1% | 1.6 |
About Erin C. Perkins

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