Austin On-Track to Become Least Affordable Housing Market U.S. Outside of California

According to a forecast prepared by Zillow the Austin metropolitan area is on track to become by year’s end the least affordable major metro region for homebuyers outside of California. It has already surpassed hot markets in Boston, Miami and New York City. This New York Times article explores the city’s efforts to prevent displacement, which often comes with rising costs and high-end development. The same Zillow forecast also predicts that Rent paid as a share of income is forecast to rise beyond 30 percent by December for the typical U.S. renter, which is considered housing burdened.