Report: Fort McMurray Most Affordable Housing Market Across Globe

A new report suggests Fort McMurray is the most affordable market across the globe.

Demographia released its 16th annual International Housing Affordability Survey on Monday highlighting the best and worst markets to buy a home.

Fort McMurray came in at number one due to the falling house prices and the average income made by residents.

“Fort McMurray has suffered serious economic disruption as a result of petroleum market developments and product transport shortages,” the report read.

The survey looked into the housing markets of 309 cities across North America, Europe, Asia, and Australia.

It suggests the average price for a home in Fort McMurray is $360,000, while the median income for households is just over $196,000.

San Jose, California was the only other city that the report says the average worker makes over $130,000 a year.

The only other Canadian cities to make the top 10 were Fredericton and Saint John, New Brunswick.

-A previous version noted the average resident income was over $196,000 when in fact it’s the average household income

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