Abstract:The paper hackles research literature of foreign housing priceincome ratio systematically from these angles of origin, measurement and application. This review shows that housing priceincome ratio evolves out of and is better than housing expenditureincome ratio; the diversity of measurement of housing priceincome ratio depends on the diversity of measurement methods of housing price and income, and equilibrium models of housing priceincome ratio; housing priceincome ratio is mainly applied to the research of housing affordability and real estate bubble. Standardization of calculation, integration of equilibrium models and multiangle of empirical study would be the directions of further housing priceincome ratio research.