Among this sample, the housing markets with the least affordable real estate prices are Hong Kong, Vancouver, and Sydney.
The top three housing markets with the most affordable real estate prices based on major housing markets are Rochester, New York, Cleveland, Ohio, and Oklahoma City, Oklahoma.
This survey was performed by Demographia, a global analysis firm.
The housing markets ranked are located in Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, United Kingdom, and the United States.
The median multiple is used widely for analyzing housing markets and is recommended by the World Bank and the United Nations.