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Reno-Sparks Among 2% Of Least Affordable Housing Markets

RENO, Nev. (AP) — The Reno-Sparks area ranks among the top 2% of the markets nationally for the least affordable housing based on prices and area incomes.

 

The Reno Gazette-Journal reports that the latest study by the mortgage information website Freeandclear shows Washoe County as the 66th least affordable among all 3,142 counties in equivalent areas and 138th overall.

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Topping the list are New York counties containing Brooklyn and Manhattan, and San Francisco.

 

The median home price for Washoe County last year was $386,179. But the median-household income of $60,386 means typical residents could only afford a $325,477 home, or 84% of the median-priced house.

 

In Las Vegas, the median home price was $309,500 and the median income $56,560. Median-income earners in Las Vegas can afford a home priced at $304,853, or about 98% of the median-priced house.

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