Bloomberg released its latest global city housing affordability index and the results will please most Americans.
It turns out that, out of the 10 most affordable cities analyzed, four of them are within the United States. These are Houston (ranks in at number two), Philadelphia (number three), Chicago (number five) and Portland (number eight). Interesting, right?
According to the index, the most affordable city in the world is Riyadh, in Saudi Arabia, where the monthly housing costs are 31% of what the average citizen earns.
As for the opposite side of the study, Caracas, the capital of Venezuela, is the least affordable city on the planet—where the average monthly pay is a mere $31. On that same ranking, you won't find a single American city.
Check out the list of most affordable cities in the world according to the study (which you can read in full right here):
1. Riyadh, Saudi Arabia
2. Houston, U.S.
3. Philadelphia, U.S.
4. Calgary, Canada
5. Chicago, U.S.
6. Ottawa, Canada
7. Montreal, Canada
8. Portland, U.S.
9. Basel, Switzerland
10. Cape Town, South Africa