Housing Affordability in Anglophone Countries

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The 16th Annual Demographia International Housing Affordability Survey: 2020 analyzed affordability in 8 Anglophone countries. Among this sample, the housing markets with the least affordable real estate prices are Hong Kong, Vancouver, and Sydney. The top three housing markets with the most affordable real estate prices based on major housing markets are Rochester, New York, Cleveland, Ohio, and Oklahoma City, Oklahoma. This survey was performed by Demographia, a global analysis firm.[1]


The prices are based on data from the third quarter of 2019. The housing markets ranked are located in Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, United Kingdom, and the United States. The report also includes special coverage on Russia.

The housing markets are ranked on middle income housing affordability, which uses the "median multiple". This was calculated by taking the median house price divided by the median gross pre-tax household income of the housing market. The median multiple is used widely for analyzing housing markets and is recommended by the World Bank and the United Nations. It has also been used by the Joint Center for Housing Studies at Harvard University.

Demographia uses housing affordability ratings to categorize each housing market's median multiple.[1]

Demographia housing affordability ratings[1]
Housing affordability rating Median multiple
Affordable 3.0 and under
Moderately unaffordable 3.1 to 4.0
Seriously unaffordable 4.1 to 5.0
Severely unaffordable 5.1 and over


The report is split into two rankings, one for major housing markets, and one for all housing markets. The list below shows the rankings from the most unaffordable housing market to the most affordable housing market for the major housing markets. The list contains 92 housing markets.[1]

(3rd quarter 2019)
Housing market Country Median multiple
1 Hong Kong  China 20.8
2 Vancouver  Canada 11.9
3 Sydney  Australia 11.0
4 Melbourne  Australia 9.5
5 Los Angeles  United States 9.0
6 Toronto  Canada 8.6
6 Auckland  New Zealand 8.6
8 San Jose, California  United States 8.5
9 San Francisco  United States 8.4
10 London (Greater London Authority)  United Kingdom 8.2
11 Honolulu  United States 8.0
12 San Diego  United States 7.3
13 Bournemouth and Dorset  United Kingdom 6.9
13 Adelaide  Australia 6.9
15 London Exurbs (east and southeast England)  United Kingdom 6.6
16 Bristol and Bath  United Kingdom 6.5
17 Brisbane  Australia 6.3
18 Plymouth and Devon  United Kingdom 6.0
18 Perth  Australia 6.0
20 Swindon and Wiltshire  United Kingdom 5.8
21 Northampton and Northamptonshire  United Kingdom 5.7
22 Seattle  United States 5.5
23 Riverside-San Bernardino  United States 5.4
23 New York metropolitan area  United States 5.4
23 Miami  United States 5.4
23 Leicester and Leicestershire  United Kingdom 5.4
27 Denver  United States 5.3
27 Greater Boston  United States 5.3
29 Sacramento, California  United States 5.2
29 Fresno, California  United States 5.2
31 Portland metropolitan area  United States 5.1
32 Las Vegas  United States 5.0
32 Birmingham and West Midlands  United Kingdom 5.0
34 Montreal  Canada 4.7
34 Middlesbrough and Durham, England  United Kingdom 4.7
34 Dublin  Ireland 4.7
37 Singapore  Singapore 4.6
37 Salt Lake City  United States 4.6
37 Manchester and Greater Manchester  United Kingdom 4.6
37 Hull and Humber  United Kingdom 4.6
41 Nottingham and Nottinghamshire  United Kingdom 4.5
41 Newcastle upon Tyne and Tyneside  United Kingdom 4.5
43 Stoke-on-Trent and Staffordshire  United Kingdom 4.4
43 Providence metropolitan area  United States 4.4
43 Orlando  United States 4.4
46 New Orleans  United States 4.3
46 Derby and Derbyshire  United Kingdom 4.3
48 Phoenix, Arizona  United States 4.2
48 Leeds and West Yorkshire  United Kingdom 4.2
50 Tucson, Arizona  United States 4.1
50 Tampa Bay area  United States 4.1
50 Ottawa-Gatineau  Canada 4.1

See also[edit]


  1. ^ a b c d "16th Annual Demographia International Housing Affordability Survey: 2020" (PDF). Demographia. Retrieved 27 January 2021.