Milwaukee has the highest housing price-to-income ratio among major metropolitan areas in the Midwest, as well as one of the lowest rates of new housing development.
That’s according to Moody’s Analytics data used in a recent New York Times analysis, which illustrates housing affordability challenges across the United States. The authors argue the entire country “needs to build more housing,” noting regional variations in home prices are the widest they’ve been in decades.
Wisconsin’s largest metro area stands as an outlier for both the Midwest region and other states bordering the region, as the only city with a price-to-income ratio above 5 for hundreds of miles in every direction…