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CO-OP/CONDO BUYERS

WHAT CO-OP/CONDO BUYERS NEED TO KNOW

Rejoice, New Yorkers!

New York City

Unaffordable Cities
Aug. 26, 2016

We reported recently that New York City’s rate of homeownership is roughly half the national average. But the mortgage data website HSH.com has released a survey that reveals a startling new fact: there are four American cities where the salaries needed to afford the median home sale price are actually higher than in New York.

The winners of this dubious distinction are San Francisco ($161,947), San Diego ($109,440), Los Angeles ($92,091), and Boston ($87,556). All it takes to buy a home in New York is a paltry annual salary of $86,215.

On the other end of the spectrum, the cities with the most affordable housing are Pittsburgh, Cleveland, Cincinnati, St. Louis and Detroit, which all fall well below the national average of $52,699.

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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