According to a new study, San Diego has taken the crown as the least affordable city in the country, knocking San Francisco off the podium.
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A survey by real estate platform OJO Labs found that San Diego surpassed San Francisco and Los Angeles when comparing median home price to local incomes.
The average home price in San Diego spiked 14% in January to $764,000, raising the ratio of home price to household income to 8.1. San Francisco’s unaffordability score fell from 9.2 to 7.9 in January, while the national average is 4.5.
Despite the findings, San Francisco is still boasting the most expensive housing stock of any metro in the United States with a median selling price of $1,012,000, OJO Labs reported.
Appleton, Wisconsin and Akron, Ohio were ranked as two of the most affordable U.S. cities, with an unaffordability score of 2.16 and 2.75.
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