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Survey: Chico housing market 1 of nation's least affordable

By Jerry Olenyn, jolenyn@krcrtv.com
Published On: Mar 24 2014 07:39:24 PM CDT
Updated On: Mar 24 2014 11:08:33 PM CDT
CHICO, Calif. -

The tenth annual International Housing Affordability Survey published by Demographia lists Chico as one of the least affordable international real-estate markets, ranked 15th, one notch below Eureka.

The survey's rankings are based on comparisons of metropolitan areas' average home prices and their populations' gross annual median household incomes.

Thirteen of the top 15 on the list are from California cities.

The news didn't catch Chico real estate agent Jergentz by surprise. 

"We have the foothills close by, we have mountains an hour away, the city is three miles away and a lot of recreation like Bidwell Park," said Jergentz of Coldwell Dufour Realty.

The least affordable housing market according to the survey is Honolulu followed by Santa Barbara, San Francisco, Santa Cruz and San Jose.