DENVER — For the first time, Denver is in the top five on a list of the country’s least-affordable cities.
According to a new report from Austin-based OJO Labs, Denver ranks No. 5 on a list of the country’s most unaffordable cities. The only cities less affordable than Denver were San Francisco, San Diego, Los Angeles and Miami.
OJO Labs uses a ratio of home sale price to median household income to come up with its affordability score.
> Video above: How inflation is impacting the housing market
Denver rounded out the top five cities with a March unaffordability score of 6.6. According to OJO Labs, Denver’s median home sale price was $564,990 in March, a 23.2% increase from this time last year.
Colorado Springs and Pueblo also made the list at No. 9 last month, with a median home sale price of $435,000.
Video below: Inflation forecast for the Denver metro area for 2022
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