The notoriously pricy Bay Area city has been dethroned as the country's most expensive metropolis.
It's not getting any cheaper to live in the San Francisco Bay Area, but the rest of the country is catching up, reports Joshua Bote. "OJO Labs, an Austin, Texas-based AI real estate firm, has decreed San Diego the least affordable metro area — in large part due to a staggering 14% increase in the 'median sold price' for a home in the Southern California city compared with last January."
After years of claiming the throne as one of the most expensive areas in the country, the San Francisco Bay Area is finally getting more affordable—sort of. "While the median sold price in the San Francisco Bay Area is more than $1 million, that actually indicates a decrease in median price from last January, according to OJO Labs. (Along with the Fort Myers, Florida, metropolitan area, San Francisco is the only big city in the nation to see a decrease in home prices, OJO said.)"
FULL STORY: San Francisco Bay Area dethroned as most unaffordable housing market in America, report says
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Economic & Planning Systems, Inc.
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research