SLO County ranked third most expensive place to live
February 28, 2010
A recent report places San Luis Obispo County third on the list when it comes to being the least affordable place to live in the United States. [SantaMariaTimes]
The study, conducted by the National Association of Home Builders, focuses on median incomes and median home prices during the fourth quarter of 2009.
According to the study, SLO County’s median home price during the fourth quarter of 2009 was $372,000. With an average county family income of $70,800, only 32.1 percent of the homes in San Luis Obispo County were affordable to county families during that time.
SLO County also received the honor of being the nation’s least affordable smaller metro housing market. Of the 277 metro markets evaluated in the study, only New York City and San Francisco were ranked less affordable than SLO.
Kokomo, Ind., with a median income of $61,800 a year and a median home price of $73,000, was rated the most affordable place to live in the country.