Honolulu has priciest midsize housing market

Honolulu is the least affordable midsize metro housing market in the country, according to the latest quarterly rankings released Friday by NerdWallet’s Home Affordability Watch.

With a median household income of $81,284 and a median home price of $818,600, Honolulu topped Nerd­Wallet’s list of America’s most expensive midsize housing markets.

The typical monthly payment of $3,412 for both principal and interest means Honolulu homeowners are tapping 50.4 percent of their monthly incomes to pay for housing.

“The typical household in Honolulu has a high income compared to the national median, but house prices are sky high, too, with the median house price more than 10 times the median household income,” NerdWallet said.

On the other end of the spectrum, the Youngstown- Warren-Boardman area of Ohio and Pennsylvania represented the country’s least expensive midsize metro housing market.

The area has a median household income of only $45,382 but also a median home price of $97,600, compared with the national median price of $266,900.

That means homeowners pay only $407 per month in principal and interest, representing just 10.8 percent of their median monthly income.

NerdWallet reviewed 172 metro areas that have house price data compiled by the National Association of Realtors.