Realtors Predict These 11 Cities Will Become Unaffordable by 2028

Buying property is still one of the best ways to grow your wealth over time. But in some metropolitan areas, rising home prices and increasing living costs may soon make homeownership a more difficult prospect.

While these cities may still seem reasonably priced today, Realtors believe that could change. For buyers hoping to get ahead of future price increases, timing matters. Here are the cities our experts predict may become far less affordable by 2028.

Orlando, Florida

Realtor Christina Rordam, Real Estate Sales Associate at Florida Realty, has been active in Orlando for two decades. In that time, prices have changed dramatically.

"Many have said Orlando was underpriced for years, and now for many first time buyers, home ownership is out of reach," she says. "While the real estate market has slowed as of late, I don't anticipate a drastic down shift in home prices."

Washington, D.C.

This perennially popular region is only getting more competitive due to strong schools and high-paying job opportunities, per Realtor Dell Jeanty with Dell Residential at Samson Properties.

"According to the National Association of Realtors Metro Market Statistics Dashboard, a buyer now needs roughly $142,000 in household income to qualify for a median-priced home, while only about 21% of renters ages 25–34 can realistically make the jump to ownership," he says.

Jersey City, New Jersey

Jersey City may not be able to claim the title of affordable neighbor for much longer, shares real estate agent Jonathan Ayala, Founder of Real Estate Photography in New Jersey.

"Jersey City will see a much more rapid pace of development as remote, high-income professionals continue to settle down in previously 'cheap' luxury housing," he says. "Housing along the waterfront has become even less affordable and expensive."

Phoenix, Arizona

The Phoenix market is hotter and hotter by the day, explains real estate agent Kristina Morales, Mortgage Loan Officer at Loanfully in Cleveland, Ohio.

"The influx, combined with a historic lag in new residential construction, has pushed the median home price to roughly $450,000," she says. "As demand dramatically outpaces our supply of developable land, bidding wars are becoming the standard again."

This could make Phoenix more like the notoriously unaffordable West Coast by 2028.

Dallas-Fort Worth, Texas

Realtor Blaz Korosec, Founder/CFO of Investorade in Dallas, lives in North Texas. He's watched population, home prices, and wages skyrocket due to corporate migration to the area.

"Median home prices in DFW have increased roughly 60% in six years," he says. "At our current absorption rates, the median home price in DFW could sit at $500,000 by 2028, making homeownership unattainable for any household making under $135,000 per year."

New Smyrna Beach, Florida

No state income tax, no inheritance tax, and a cap on building height draw many to this area, shares Realtor Ryan Winslow, broker-owner at Winslow Homes LLC.

"The median sale crossed $475K in April, up 47% since 2020," he says. "With 200,000 net domestic migrants moving to Florida last year, and zero room to add high-rise inventory inside the seawall buffer, supply stays flat while demand from Northeast retirees and Orlando-area commuters grows."

Boise, Idaho

Buyers from states like California and Colorado continue to push prices higher in Boise, explains real estate agent Ben Mizes, President at Clever Real Estate in St. Louis, Missouri.

"While the outdoor lifestyle, lower taxes, and new tech companies have made Boise an ideal spot for buyers in the past, home prices are increasing fast because of the same factors," he says. "Some improvements have been made, but Boise will continue to have a lot more people than houses."

Charlotte, North Carolina

Charlotte's robust job market, cost of living, and proximity to nature have made it an extremely attractive market, per real estate agent Brett Johnson, Owner of New Era Home Buyers in Denver.

"However, with limited inventory and a continuous influx of well-compensated transplants, home prices are climbing rapidly," he says. "We are seeing a significant squeeze on middle-income buyers, and by 2028, entry-level homes will likely be out of reach for many local families."

Tampa, Florida

Tampa, Florida, is experiencing a perfect storm that is pushing it beyond middle-class affordability by 2028, per real estate agent Matt Brown, of William Raveis Real Estate in Naples, Florida.

"The median home price has jumped 89% in just five years," he says. "What makes Tampa particularly concerning is the combination of rapid job growth, limited developable land, and massive population influx from expensive northern markets where buyers can pay cash well above asking price."

Nashville, Tennessee

Nashville isn't getting any larger, but it's still drawing residents in a relentless manner, as noted by Ayala.

"Nashville has exploded in popularity thanks to its booming health care, tech, and entertainment sectors, along with no state income tax," he says. "This influx of new residents has pushed average home prices into the mid-$400,000s, squeezing out longtime residents."

Greenville, South Carolina

When Korosec looks at trends in Greenville today, he's reminded of Nashville a decade ago, when bidding wars were common, and homes didn't stay on the market for long.

"Median home prices were around $185,000 back in 2017 and today sit at almost $358,000, or a 93% increase in home prices over seven years," he says. "Supply inventory as measured by months of supply has decreased from around 5.2 in 2018 to today, sitting around 1.8."

Bottom line

As housing costs keep rising in many parts of the country, buyers need to think carefully about where and when they purchase property. Cities that seem affordable today could look very different in just a few years if demand keeps climbing.

For some buyers, getting into a growing market earlier could spell long-term financial benefits, especially if property values trend upward. Others may look for creative ways to offset higher costs, including income that could help pay for your mortgage.