Brooklyn is the least affordable place in America
Brooklyn is known as the borough of hipsters, beer gardens and Coney Island. But it’s got a new feather to add to its fedora: the least affordable place to live in the country.
Residents of the New York City borough would have to spend nearly 98% of the median income to afford a median-priced home of $615,000 in that area, according to a report from RealtyTrac.
“It’s unlikely that people who are making the median income are buying homes in that area. That’s why Brooklyn has such low home ownership rates,” said Daren Blomquist, vice president of RealtyTrac.
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