The housing market reached a breaking point across America in 2025. Mortgage rates hitting above 6.5%, combined with home prices, have skyrocketed since the pandemic created an impossible equation for most buyers. In many states, the price-to-income ratios make homeownership mathematically unattainable for average earners.
Hawaii
Hawaii leads with a crushing 8.8 price-to-income ratio. Residents need nine years of pre-tax income for a median home. Investment buyers and vacation properties push out locals completely. Geographic isolation drives up construction costs while limited land availability creates permanent supply constraints.
California
California holds second place with an 8.2 statewide ratio. Cities like Los Angeles and San Francisco hit ratios of 12.2 to 1. Strict zoning laws prevent new construction.
Idaho
Blaine County posts America’s highest ratio at 27.9 to 1. Medium homes hit $2.36 million in March 2025. Local wages cannot touch these extreme prices.
Montana
Montana crosses 6.0 ratios statewide with 56% price increases over five years. Out-of-state buyers seeking natural beauty price out generational residents from their communities.
Nevada
Douglas County hits a 5.8% price-to-income ratio, with median prices reaching $416,900. Las Vegas loses its affordable reputation as cash buyers flood the local markets. Water scarcity issues limit new development possibilities while construction labor shortages persist across the state.
New Jersey
New Jersey has median housing listings at $563,670. High property taxes add another expensive layer beyond impossible home prices.
Rhode Island
Rhode Island has a 5.5 price-to-income ratio. Limited land mass creates artificial scarcity while zoning prevents needed density increases.
South Carolina
Charleston County has median prices of over $600,000. Tourism and retirement migration fuel affordable coastal housing markets across the region. Hurricane risks drive insurance costs while coastal development restrictions limit buildable land options.
Oregon
State-wise ratios exceed 6.0 in Oregon, with Portland leading the crisis. Land use regulations and urban boundaries restrict expansion in the most desirable areas.
Washington
Seattle homes cost seven times the median income, reaching $831,457 in 2024. High-paid tech workers drive prices beyond the reach of teachers and essential service employees throughout the region.
Colorado
Denver and mountain twins face intense pressure with ratios above 5.5%. Population growth far exceeds construction, while vacation buyers compete directly with locals. High altitude construction challenges and seasonal weather patterns limit building windows to just a few months annually.
Utah
Salt Lake City areas show price-to-income ratios at 5.6%. Young families struggle most a home prices, claiming six full years of total household income.
Arizona
Phoenix and retirement destinations maintain price growth despite higher rates. Homes require five times the ordinary household incomes to purchase across the state. Extreme summer heat increases construction costs while water usage restrictions complicate new development projects.
New Hampshire
The average house price in Carroll County, New Hampshire, went up by 2%, with median homes around $452,500. Boston commuters drive demand while zoning restrictions limit new construction opportunities.
Florida
Coastal metros like Florida see permanent price appreciation despite hurricane risks. Service workers face homes costing five times their family incomes, plus skyrocketing insurance costs. Climate change concerns drive up building requirements while frequent storms create ongoing reconstruction demand.
Louisiana
Louisiana has housing with a median price of $208,234. Despite the price going down by 0.4%, disaster reconstruction and investment purchases drive prices beyond local earning capacity.
Kentucky
Kentucky has a price-to-income ratio of 3.5%, with median prices around $260,000 to $265,200. Limited development creates severe affordability challenges in select counties across the state.
Indiana
Indiana hits a 3.5% price-to-income ratio, with a home at $265,300. Regional economic pressures create housing stress while builder confidence remains extremely low. Manufacturing job losses in some areas reduce local purchasing power, while infrastructure needs require significant investment.
Kansas
The price of housing went up by 4.3%, with median listings at $299,000. Local wages simply cannot keep pace with rapid housing cost increases.
Massachusetts
Boston metro requires seven times the median income for home purchases. Limited buildable land and strict zoning combine with high-income professional competition throughout the region.
Historic preservation requirements increase renovation costs, while aging infrastructure demands expensive upgrades for new developments.
New York
New York City and the surrounding areas exceed a price-to-income ratio of 5.5%. Manhattan homes sell for times the regional incomes, trapping residents in permanent rental situations.
Vermont
Non-resident buyers drive prices beyond regional income levels. Second-home owners compete directly with permanent residents for extremely limited housing stock throughout the state.
Maine
Retirement and vacation home demand create permanent price appreciation. With a price-to-income ratio of 5.3%, full-time residents face homes requiring five times their typical household incomes to afford across coastal regions.
