Forbes ranks Portland among most overpriced cities in U.S. - KPTV - FOX 12

Forbes ranks Portland among most overpriced cities in U.S.

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PORTLAND, OR (KPTV) -

This might come as no surprise to many living in the Rose City: Forbes calls Portland one of the most overpriced cities in America.

Portland came in at number 21 on the list.

Forbes compared housing prices to incomes to come up with the list. In particular, they examined the percentage of housing that is affordable to someone making the median income.

In Portland, the median home price in 2014 was $271,000. 

Compare that to the median income of $69,400. Just over 55 percent of housing in the city is affordable to someone making that much.

Seattle ranked even higher on the list as the 16th most overpriced city.

The most overpriced city in the country? Honolulu, Hawaii, with a median home price of $509,000.

To see the full list, click here.

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