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Executive Housing

May 15, 1996

Oklahoma City was the most affordable U.S. housing market last year, while San Francisco and Los Angeles were the least affordable, according to a study that monitored housing for mid-level executives in 75 areas. The survey, conducted by Ernst & Young's Kenneth Leventhal Real Estate Group, compares the cost of buying a four-bedroom home or renting a two-bedroom luxury apartment with the local take-home median household income of the area. This year's results for most and least affordable, with the area followed by the percentage of take-home pay required for housing costs:

MOST AFFORDABLE

1. Oklahoma City; 19.5%

2. Kansas City, Mo.; 20.9%

3. Houston; 21.4%

4. Tulsa, Okla.; 21.5%

5. St. Louis; 22.0%

6. Central New Jersey; 22.0%

7. Grand Rapids, Mich.; 22.2%

8. Salt Lake City; 22.4%

9. Dallas-Fort Worth; 22.6%

10. Louisville, Ky.; 22.7%

LEAST AFFORDABLE

1. San Francisco; 50.0%

2. Los Angeles; 40.2%

3. Honolulu; 40.0%

4. Oakland; 36.3%

5. Miami; 35.5%

6. San Diego; 35.4%

7. Boston; 35.0%

8. Pittsburgh; 34.4%

9. El Paso; 34.3%

10. New York; 33.9%

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