RENO, Nev. (AP) — A real estate website is ranking Reno among the top 20 least-affordable housing markets in the U.S., with cost-burdened households needing to spend nearly half their income to afford a median home.
RealtyHop put the northern Nevada city 18th behind Denver and San Jose, California, in its September ranking of housing markets based on median price and area incomes.
Los Angeles, Miami, New York and San Francisco lead the list. A data analyst tells the Reno Gazette-Journal that northern Nevada is drawing homebuyers from other major West Coast cities where housing costs are high.