Doctors, first responders, and restaurant workers also struggle
The ability of workers to be able to live where they work is being eroded by rising prices in many of the largest US housing markets.
An analysis by Trulia found less than half the available homes in 42 out of the 55 largest markets are unaffordable for teachers – based on spending 30% of their income on home costs.
In California’s priciest markets – San Jose, San Francisco, and Los Angeles, first responders earning $100K would only be able to afford 10.6%, 17.6%, and 25.1% of the homes on the market respectively.
The research shows that doctors in San Jose who typically earn more than $200,000 would still only have the choice of 51% of available homes in the market to remain at the 30%-of-income level.
Things may be less expensive in Pittsburgh and other lower-priced housing markets, but wages are generally lower too.
That means a restaurant worker in the City of Bridges would only be able to afford 24.4% of homes on the market although this rises to 64.2% for teachers and 63.3% for first responders.
