16 US cities where incomes can't keep up with housing costs

One-third of Americans overpay for housing, spending more than the recommended 30% of their income on rent or homeownership expenses.

While that group likely includes residents of the country's most expensive housing markets— looking at you, San Francisco — it's not just them.

In fact, according to a new ranking from SmartAsset, the least affordable housing markets in the US aren't necessarily the places with the most expensive homes. Rather, they're the cities where incomes haven't kept up with housing costs, rendering it even more difficult for residents to find affordable living.

To determine the list, SmartAsset gathered three data points — rent as a percentage of income, cost of homeownership as a percentage of income, and home value to income ratio — from the US Census Bureau for more than 580 cities. SmartAsset then ranked each city in each metric and calculated the average to determine a final score out of 100.

Three states — California, New Jersey, and Florida — are home to 15 of the top 16 cities in the ranking. Passaic, New Jersey, takes the No. 1 spot on the list. Renters there pay only $500 less than San Francisco renters, but households earn almost $70,000 less per year than they do in San Francisco, according to SmartAsset.

Read on for the top 16 least affordable housing markets in the US.

SEE ALSO: Here's how much you need to earn to rent a 2-bedroom apartment in 15 of America's biggest cities

DON'T MISS: Here's how much you need to earn to comfortably afford a home in the 25 most expensive ZIP codes in America

16. Santa Ana, California

Income spent on rent: 38.1%

Income spent on homeownership costs: 31.1%

Home value to income ratio: 8.0

14 (TIE). Newark, New Jersey

Income spent on rent: 36.6%

Income spent on homeownership costs: 40.5%

Home value to income ratio: 7.6

14 (TIE). Bloomington, Indiana

Income spent on rent: 42.5%

Income spent on homeownership costs: 33.3%

Home value to income ratio: 6.4