Nine out of 10 adults under 40 said it’s harder for young adults to buy a home today than it was for their parents’ generation, according to a report published by the Pew Research Center. South Florida proved particularly unaffordable for homebuyers within that age range.
Metro areas were classified into four groups based on price-to-income ratio — very affordable, somewhat affordable, somewhat unaffordable and very unaffordable. Homes in the area encompassing Miami, Fort Lauderdale and West Palm Beach were considered “very unaffordable” for households headed by a person under 40, with a price-to-income ratio equal to 5.
The report’s categories were based on a Pew Research Center analysis of the 2024 American Community Survey, and included 160 metro areas with available data…