Thanks to National Association of Realtors for this fantastic information! According to survey’s, St. Louis and surrounding regions have been ranked #2 in housing affordability in the U.S. Below are the top 5 most affordable and the top 5 least affordable regions in the United States. Happy Viewing 🙂
Realtor.com®’s new report finds the following markets are the most affordable (ranked by lowest predicted mortgage-to-income ratio with a 30-year fixed-rate mortgage):
1. Detroit-Warren-Dearborn, Mich.
Median income (2015): $53,186
Mortgage-to-income ratio (2015): 13.2%
2. St. Louis, Mo.-Ill.
Median income: $57,255
Mortgage-to-income ratio: 18.1%
3. Cleveland-Elyria, Ohio
Median income: $49,965
Mortgage-to-income ratio: 18.8%
4. Atlanta-Sandy Springs-Roswell, Ga.
Median income: $56,557
Mortgage-to-income ratio: 19.8%
Median income: $54,264
Mortgage-to-income ratio: 20.1%
The 5 Least Affordable Markets for 2015
On the other hand, these markets were found to be the least affordable (ranked by highest predicted mortgage-to-income ratio with a 30-year fixed-rate mortgage):
1. San Francisco-Oakland-Hayward, Calif.
Median income (2015): $78,355
Mortgage-to-income ratio (2015): 72%
2. San Diego-Carlsbad, Calif.
Median income: $64,392
Mortgage-to-income ratio: 56.9%
3. Los Angeles-Long Beach-Anaheim, Calif.
Median income: $62,037
Mortgage-to-income ratio: 50.7%
4. New York-Newark-Jersey City, N.Y.-N.J.-Pa.
Median income: $67,968
Mortgage-to-income ratio: 46.6%
5. Miami-Fort Lauderdale-West Palm Beach, Fla.
Median income: $49,121
Mortgage-to-income ratio: 42.2%
Source: Move Inc.“
Have a Sunshine Day!
-Evelyn, Ashley & Dana