The average house price in Sheffield is £155,000 - almost seven times the average salary of residents, according to new figures.
The figures were released to coincide with the first Sheffield Housing Festival - being held today in Endcliffe Park with the aim of shining the spotlight on ending the ‘housing crisis.’
It is claimed residents in Sheffield must now earn a household income of £35,400 to afford a typical mortgage, and rents cost more than £522 a month, according to the National Housing Federation.
Across the Yorkshire and Humber region last year, 9,660 homes were built when experts say that 20,700 were needed.
David Orr, chief executive of the NHF said: “For the thousands of people in Sheffield affected by the housing crisis every day, it’s vital that we make housing a top issue at this election.”
Today’s event is being held in the run-up to the general election in May.
Parliamentary candidates standing across Sheffield have been invited to the festival - where a giant inflatable house will be flown over the park.
Mr Orr added: “Today is a great opportunity for local candidates to hear the housing concerns of local voters and answer the call to support the Homes for Britain campaign.
“We want all political parties to commit to ending the housing crisis within a generation.
“We want the next Government to publish a long term plan within a year of taking office, that sets out how it will achieve it.”
Experts say the country is facing a shortage of homes as not enough properties have been built for decades.
In January estate agents in Sheffield said 2014 was the best year for house sales since the financial crash.
Tony Stacey, chief executive of South Yorkshire Housing Assocation, said: “My generation has been brought up in an era of relatively affordable housing and we are used to an upward trajectory in house prices.
“Two thirds of young people now believe they will never own their own home.”
The festival also includes street theatre, stalls, a Speaker’s Corner, food and drink.
It is part of the national Homes for Britain campaign and will bring together housing associations, residents and candidates. The festival starts at 11am and runs until 3pm in the park.