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Fuhgeddaboudit! New Survey Finds Brooklyn Most Unaffordale Place To Live In US

NEW YORK (CBSNewYork) -- A new survey finds the most unaffordable place to live in the United States is Brooklyn.

But that doesn't mean the borough has the highest priced homes. Residences in Manhattan and San Francisco are still pricier, but according to RealtyTrac, the survey found that a person earning the average salary of Brooklyn can't actually afford a home there.

"It's actually somewhat absurd in Brooklyn," RealtyTrac Sr. Vice President Daren Blomquist told 1010 WINS. "If you are making the average wage in Brooklyn you would have to spend 121 percent of your income to buy a medium-priced house. We looked at 417 counties across the country and the average is 35 percent of income to buy a medium-priced home."

The second most unaffordable place is Marin County in California, right over the Golden Gate Bridge. Both Kings and Marin counties seem to have something in common.

"In Brooklyn, to a certain extent you have this ripple effect where people can't afford in Manhattan and so they're moving out to Brooklyn, which then in turn is pushing up the prices in Brooklyn," Blomquist said. "You have that same effect in San Francisco. People can't afford there so they're moving out to Marin County, which is outside of the city."

Blomquist believes there is still hope.

"We actually are already seeing signs that the market is responding," Blomquist said. "Brooklyn, even though it's the least affordable market in the country, it's slightly more affordable than it was a year ago."

Queens was ninth on the list.

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