Skip to content
theparlorbellevue

theparlorbellevue

Convenient cluster housing

Primary Menu theparlorbellevue

theparlorbellevue

  • Home improvement
  • downtown housing
  • highest apartment
  • cheapest housing
  • cluster housing
  • buildings land
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • cheapest housing

Calgary ranks as the 10th most affordable housing market in the world

April 27, 2022 Billy G. Alsman

[ad_1]

The housing market in Calgary falls among the top 10 most affordable in the world, in an annual ranking of 92 cities.

According to the newly released findings of Urban Reform Institute’s Demographia International Housing Affordability Study for 2021, based on the final quarter of the year, Calgary’s median multiple is now at 4.0 — down just slightly from 4.1 in the previous study analyzing 2020.

Demographia International Housing Affordability rates middle-income housing affordability in major housing markets in eight nations: Australia, Canada, China, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.

The median multiple is the price-to-income ratio, which is the median house price divided by the gross median household income, pre-tax. This means that the median house in Calgary costs four times the average annual income in the city.

Cities with a median multiple of 3.0 and under have “affordable” housing markets, while the range from 3.1 to 4.0 is “moderately affordable,” 4.1 to 5.0 is “seriously unaffordable,” and 5.1 and over is “severely unaffordable.”

Calgary’s median multiple puts its housing market in 10th place out of the 92 cities studied, a dramatic jump from 29th place the previous year.

Three US cities top the list, with Pittsburgh coming in first at a median multiple of 2.7, and Oklahoma City and Rochester, New York, tying for second at 3.3. A Canadian city ranks as the fourth most affordable: our neighbour to the north, Edmonton, has a median multiple of 3.6.

Falling between Edmonton and Calgary for affordability are St. Louis (3.6), Cleveland (3.7), Glasgow (3.8), Cincinnati (3.8), and Buffalo (3.9).

calgary housing market

Demographia

On the other end of the list, two Canadian cities are among the top 10 least affordable across the globe. Unsurprisingly, Vancouver was the third least affordable with a median multiple of 3.3; however, it did see the smallest year-over-year increase in its median multiple among the top 10 most expensive cities.

Toronto was the 10th least affordable city, having a median multiple of 10.5.

Ottawa/Gatineau has been given a median multiple of 5.6, ranking it as the 50th most affordable housing market, and Montreal is tied at 60th place with Plymouth/Devon and Austin at 6.1.

Hong Kong remains the least affordable housing market in the world, with a median multiple of 23.2.

calgary housing market

Demographia

Based on the six major Canadian cities ranked, Canada has a median multiple of 6.0 — up from 4.4 in pre-pandemic 2019. Canada saw the largest increase amongst the nations included in the study.

“Severely unaffordable housing has spread from Vancouver to smaller markets, as Metro Vancouver has shed domestic migration to smaller markets in British Columbia, such as Chilliwack, the Fraser Valley, and Kelowna and markets on Vancouver Island,” reads the study.

The study also saw a similar pattern in Toronto: “Severely unaffordable housing has spread to smaller markets in Ontario, such as Kitchener-Waterloo, Brantford, London, and Guelph, as residents of Metro Toronto seek lower costs of living.”

But the study states that what is being experienced in Canada’s hottest housing markets is also a common trend in global cities, with structural housing cost issues exacerbated by the pandemic.

The number of severely unaffordable markets increased by 60% in 2021 compared to pre-pandemic 2019, which is been deemed as an “unprecedented deterioration” in the history of the annual study since it began in 2005.

“There is a broad view that declining housing affordability is driving higher costs of living that threaten the future of the middle-class,” states the study, adding that “the OECD finds that the middle-class faces ever-increasing costs of living and that rising owned house prices are the ‘main driver of rising middle-class expenditure.’”

Interventionist policies on housing demand are being implemented by Canada’s federal government under its 2022 budget after home prices across the country soared by 50% over the last two years. A home costs as much as 50% more than what Canadians can afford in the country’s hottest real estate markets.

10 most affordable housing markets in the world in 2021

  1. Pittsburgh, USA: 2.7
  2. Oklahoma City, USA: 3.3
  3. Rochester, USA: 3.3
  4. Edmonton, Canada: 3.6
  5. St. Louis, USA: 3.6
  6. Cleveland, USA: 3.7
  7. Glasgow, UK: 3.8
  8. Cincinnati, USA: 3.8
  9. Buffalo, USA: 3.9
  10. Calgary, Canada: 4.0

10 least affordable housing markets in the world in 2021

  1. Hong Kong: 23.2
  2. Sydney, Australia: 15.3
  3. Vancouver, Canada: 13.3
  4. San Jose, USA: 12.6
  5. Melbourne, Australia: 12.1
  6. Honolulu, USA: 12.0
  7. San Francisco, USA: 11.8
  8. Auckland, New Zealand: 11.2
  9. Los Angeles, USA: 10.7
  10. Toronto, Canada: 10.5

With files from Kenneth Chan

[ad_2]

Source link

Tags: "Real Estate School Memphis, A Real Estate Agent, A Real Estate Agent Is Able To, A Real Estate Agent Salary, A Real Estate Attorney, A Real Estate Broker, A Real Estate Investment Trust, A Real Estate Lawyer, A Real Estate Tax Lien Is, B Real Estate Bendigo, B Real Estate Broker, B Real Estate Central Coast, B Real Estate Dubai, B Real Estate Logo, B Real Estate Nz, B Real Estate School, B Real Estate Wynnum, B.C. Real Estate Market Forecast 2021", C Real Estate Logo, C Real Estate Mallorca, C&R Real Estate, Real Estate Agencies, Real Estate Agent, Real Estate Agent Salary, Real Estate Agent Salary Nashville, Real Estate Agents Near Me, Real Estate Appraiser, Real Estate Attorney, Real Estate Attorney Memphis, Real Estate Books, Real Estate Broker, Real Estate Broker Salary, Real Estate Broker Vs Agent, Real Estate Brokerage, Real Estate Brownsville Tn, Real Estate Bubble, Real Estate Business, Real Estate Classes, Real Estate Classes Memphis, Real Estate Classes Memphis Tn, Real Estate Classes Online, Real Estate Companies, Real Estate Companies Memphis, Real Estate Companies Near Me, Real Estate Contract, Real Estate Express, Real Estate License, Real Estate License Tn, Real Estate School Bartlett Tn

Continue Reading

Previous Suncoast residents struggling with skyrocketing housing and rental prices
Next Skipping a real estate agent? How this homebuyer got her own housing market lead

More Stories

  • cheapest housing

The Terrapin Turtle – How to Buy a Turtle That’s a Perfect Pet!

February 3, 2023 Billy G. Alsman
  • cheapest housing

Keep Your Day Job But Invest in Real Estate – One Person – Multiple Careers

February 2, 2023 Billy G. Alsman
  • cheapest housing

Commercial Real Estate Tenant Screening Checklist

January 28, 2023 Billy G. Alsman
February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • February 2020
  • November 2018
  • October 2018
  • December 2016

Recent Posts

  • The Terrapin Turtle – How to Buy a Turtle That’s a Perfect Pet!
  • Keep Your Day Job But Invest in Real Estate – One Person – Multiple Careers
  • Fall Home Maintenance Truths and Myths
  • Real Estate: What You Need To Know
  • How to Do Home Electricity Repair
Intellifluence Trusted Blogger

BL

seo.buybacklinks.online

Tags

J&B Real Estate J Beard Real Estate J Michael Real Estate J Philip Real Estate J Real Estate Commission J Real Estate Finance Econ J Real Estate Inc J Scott Real Estate K Real Estate Blenheim K Real Estate Group K Real Estate Group Cape Town K Real Estate Llc K Real Estate Logo K Real Estate New Zealand K Real Estate Specialists K Real Estate Utah L&K Real Estate L&M Real Estate L&T Real Estate L'Agence Real Estate L Brooks Real Estate L Catterton Real Estate L Cooper Real Estate L Real Estate Lvmh Real Estate Job Description Real Estate Jobs In Memphis Tn Real Estate Jobs Oxford Ms Real Estate Jonesboro Ar Real Estate Kalispell Mt Real Estate Kauai Real Estate Keller Williams Real Estate Kentucky Real Estate Key Lock Box Real Estate Key West Real Estate Knowledge Real Estate Knoxville Tn Real Estate Lawyer Real Estate Lawyer Near Me Real Estate License Arkansas Real Estate License Memphis Real Estate License Mississippi Real Estate License Nashville Real Estate Market Real Estate Market 2022 Real Estate Mart

Visit Now

Fashion Nova Discount Code

Related Article

  • cheapest housing

The Terrapin Turtle – How to Buy a Turtle That’s a Perfect Pet!

February 3, 2023 Billy G. Alsman
  • cheapest housing

Keep Your Day Job But Invest in Real Estate – One Person – Multiple Careers

February 2, 2023 Billy G. Alsman
  • Home improvement

Fall Home Maintenance Truths and Myths

January 31, 2023 Billy G. Alsman
  • cluster housing

Real Estate: What You Need To Know

January 30, 2023 Billy G. Alsman
  • Home improvement

How to Do Home Electricity Repair

January 30, 2023 Billy G. Alsman
theparlorbellevue.com | CoverNews by AF themes.