20 Low-Income Cities With the Highest Home Prices

The lack of affordable housing is a widespread problem.

According to a Harvard University study, home prices in the U.S. grew by 43% between 2019 and 2022, while incomes grew by just 7% in that same time period. Nationally, the median sale price for a single-family home is now 5.6 times higher than the median household income.

The disparity between home values and income is even more extreme in certain cities. GOBankingRates found the low-income cities with the highest home prices by identifying the cities where the median income is below the statewide median, but average home prices are well above statewide averages.

Based on the analysis, here is a look at the 20 low-income cities with the highest home prices.

• Median household income: $23,121
• Difference from statewide median household income: -$68,784
• Average single-family home value: $1,632,075
• Average monthly cost of living (mortgage + expenditures): $11,802
• Livability score (out of 100): 64

• Median household income: $69,631
• Difference from statewide median household income: -$22,274
• Average single-family home value: $3,340,614
• Average monthly cost of living (mortgage + expenditures): $22,217
• Livability score (out of 100): 82

• Median household income: $65,116
• Difference from statewide median household income: -$2,801
• Average single-family home value: $2,591,111
• Average monthly cost of living (mortgage + expenditures): $17,669
• Livability score (out of 100): 70

• Median household income: $28,242
• Difference from statewide median household income: -$37,944
• Average single-family home value: $507,753
• Average monthly cost of living (mortgage + expenditures): $4,878
• Livability score (out of 100): 84

• Median household income: $30,101
• Difference from statewide median household income: -$37,816
• Average single-family home value: $467,785
• Average monthly cost of living (mortgage + expenditures): $5,074
• Livability score (out of 100): 63

• Median household income: $30,317
• Difference from statewide median household income: -$36,856
• Average single-family home value: $359,679
• Average monthly cost of living (mortgage + expenditures): $3,936
• Livability score (out of 100): 90

• Median household income:
• Difference from statewide median household income:
• Average single-family home value:
• Average monthly cost of living (mortgage + expenditures):
• Livability score (out of 100): 61

• Median household income: $32,054
• Difference from statewide median household income: -$34,132
• Average single-family home value: $424,211
• Average monthly cost of living (mortgage + expenditures): $4,470
• Livability score (out of 100): 72

• Median household income: $42,012
• Difference from statewide median household income: -$45,237
• Average single-family home value: $422,558
• Average monthly cost of living (mortgage + expenditures): $4,443
• Livability score (out of 100): 89

• Median household income: $32,877
• Difference from statewide median household income: -$24,975
• Average single-family home value: $218,599
• Average monthly cost of living (mortgage + expenditures): $3,194
• Livability score (out of 100): 65

• Median household income: $57,145
• Difference from statewide median household income: -$10,772
• Average single-family home value: $1,388,443
• Average monthly cost of living (mortgage + expenditures): $10,567
• Livability score (out of 100): 85

• Median household income: $36,033
• Difference from statewide median household income: -$22,689
• Average single-family home value: $338,975
• Average monthly cost of living (mortgage + expenditures): $3,736
• Livability score (out of 100): 64

• Median household income: $40,091
• Difference from statewide median household income: -$28,414
• Average single-family home value: $392,510
• Average monthly cost of living (mortgage + expenditures): $4,214
• Livability score (out of 100): 64

• Median household income: $50,749
• Difference from statewide median household income: -$30,637
• Average single-family home value: $842,984
• Average monthly cost of living (mortgage + expenditures): $7,642
• Livability score (out of 100): 65

• Median household income: $33,411
• Difference from statewide median household income: -$19,574
• Average single-family home value: $212,199
• Average monthly cost of living (mortgage + expenditures): $3,127
• Livability score (out of 100): 60

• Median household income: $40,185
• Difference from statewide median household income: -$18,537
• Average single-family home value: $472,149
• Average monthly cost of living (mortgage + expenditures): $4,606
• Livability score (out of 100): 65

• Median household income: $41,283
• Difference from statewide median household income: -$26,634
• Average single-family home value: $425,585
• Average monthly cost of living (mortgage + expenditures): $4,846
• Livability score (out of 100): 79

Pictured: Miami

• Median household income: $36,076
• Difference from statewide median household income: -$16,909
• Average single-family home value: $265,821
• Average monthly cost of living (mortgage + expenditures): $3,424
• Livability score (out of 100): 68

• Median household income: $43,459
• Difference from statewide median household income: -$29,711
• Average single-family home value: $396,339
• Average monthly cost of living (mortgage + expenditures): $4,357
• Livability score (out of 100): 86

• Median household income: $42,843
• Difference from statewide median household income: -$23,343
• Average single-family home value: $462,101
• Average monthly cost of living (mortgage + expenditures): $4,676
• Livability score (out of 100): 64

Methodology: For this study, GOBankingRates analyzed cities across the United States to find the places with low incomes and high home prices. First, GOBankingRates found the average single-family home values for individual cities and statewide averages, as sourced from the Zillow Home Value Index for May 2024. The cities with an average single-family home value above the state average value were kept, and the cities below the average were removed. To qualify for this study, cities had to have a population of at least 5,000 total residents. The total population, total households and household median income for U.S. cities, and statewide household median income were sourced from the US Census American Community Survey. The cities with a household median income above the state median income were removed for this study. For each city, the cost-of-living indexes were sourced from Sperlings BestPlaces, and using the national average expenditure costs for all residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for all residents, the average expenditure cost for each city was found. Using the national average 30-year fixed mortgage rate and by assuming a 10% downpayment, the average mortgage cost was calculated. Using the mortgage and expenditure costs, the total monthly cost of living was calculated. The livability index, monthly expenditure costs and monthly mortgage costs were included as supplemental information. The household median income was scored and weighted at 3.00, the difference in household median income from statewide median income was scored and weighted at 1.00, the household single-family home value from May 2024 was scored and weighted at 2.00, the difference from statewide single-family home value was scored and weighted at 1.00. All the scores were summed and sorted to show the cities with low incomes and high home prices. All data was collected on and is up-to-date as of July 15, 2024.