Hawaii is an amazing place to live, and there are plenty of areas where one can afford to buy a home. However, it seems Honolulu is still ranked as the least affordable housing in the entire United States.
According to the National Association of Realtors, affordability in 150 markets for 2012 puts Honolulu dead last with a rating of 73.7, meaning a household with a median income would have only 73.7 percent of the income needed to qualify for a median-priced, existing single-family home. Honolulu’s rating rose 8.2 percent from 2011.
This should come as no surprise to anyone familiar with the housing market in Honolulu. TO break it down more generally, a tiny 1 bedroom condo in the heart of Honolulu is more expensive than a 3 bedroom, 2 bath single family home in many other parts of the country.
The Detroit-Warren-Livonia market in Michigan is No. 1 in affordability, with a rating of 571.1 for 2012.
Info comes from http://www.realtor.org.