Housing affordability in America is finally improving. Not so much in these cities

With the Federal Reserve expected to cut interest rates next month, there is hope for Americans struggling with the housing market. Home-price growth has accelerated the most in New York, San Diego, and Las Vegas. New Yorkers are the most rent-burdened, followed by residents of Miami and Fort Lauderdale in Florida, Los Angeles, and Northern New Jersey. In contrast, Tampa, Denver, and Minneapolis have seen declining shelter costs. Nationwide, the housing market has shown signs of improvement, with slower home-price growth, low mortgage rates, increased housing inventory, and growing household incomes. New York remains the most unaffordable housing market in the US, with high rents and fast-rising home prices. Miami is also struggling with affordability, while Tampa has managed to alleviate the pressure on housing costs thanks to increased supply.