Miami is the least affordable housing market in the country, followed by Los Angeles and New York, according to RealtyHop.

The RealtyHop Housing Affordability Index is based on the percentage of average income in each city that households would have to spend on housing.

1.)  The median asking price for housing in Miami is $598,000, while the average household income is $44,581. That would require residents of Miami to direct 86% of their paychecks for rent or mortgages.

2.)  The median purchase price for a home in Los Angeles is $949,000, while the average salary is $69,695. That requires the average Los Angelean must spend 83% of their paycheck on housing.

3.)  New York, the third least affordable U.S. city, has a median home purchase price of $885,750 and an average salary of $68,129. That would direct New Yorkers to spend 79% of their incomes on housing.

4.)  The fourth most-expensive city is Newark, New Jersey, where the median house is $372,500 and the median salary is $38,854. To afford living in Newark, a homeowner must spend 75% of their income.

5.)  Finally, the fifth least affordable housing market in the U.S. is Hialeah, Florida, just west of Miami. The median home price here is $459,900 and the average income $40,036, which means it would cost $72% of income to afford this locale.

The RealtyHop Housing Affordability Index analyzes both proprietary and ACS Census data to provide an index of housing affordability and homeownership burden across the 100 most populous cities in the country. Median home prices are calculated using over 300,000 listings in the RealtyHop database over the month prior to publication