Feb 1 2008
America’s 12 Most Overpriced Areas
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| City/State | Median Home Price: | Median household income: | Gross income to buy house: |
| Santa Monica, Calif. | $1.05 million | $61,423 | 17.1 years |
| Berkeley, Calif. | $752,500 | $51,256 | 14.7 years |
| Hawthorne, Calif. | $585,700 | $40,045 | 14.6 years |
| Passaic, N.J. | $385,300 | $28,918 | 13.3 years |
| Cambridge, Mass. | $587,300 | $51,625 | 11.4 years |
| Paterson, N.J. | $351,500 | $31,723 | 11.1 years |
| West Palm Beach, Fla. | $318,300 | $45,250 | 7 years |
| Alexandria, Va. | $539,200 | $80,449 | 6.7 years |
| Pompano Beach, Fla. | $279,500 | $42,409 | 6.6 years |
| Skokie, Ill. | $396,300 | $64,697 | 6.1 years |
| Cicero, Ill. | $234,600 | $39,613 | 5.9 years |
| Arlington Heights, Ill. | $368,300 | $71,366 | 5.2 years |
Read the entire article written by Matt Woolsey at Forbes.com
Technorati Tags: Suburbs, Real Estate, Housing, Median Home Price, Median Household Income