NMN082019Redfin
Home price growth has chilled following an accelerated climb in recent years, but that doesn't mean they're not still on the rise. Higher property values continue challenging homebuyer affordability, especially with strong demand for a low supply of housing.

But consumers who consider a purchase in certain key cities will have an upper hand.

In the nation's most costly market, San Francisco, a buyer would need to earn 286% of the local median income to afford a median-priced home. But there are other cities where the median home price is less than half the area's typical income.

"People who live in places like Detroit, Pittsburgh and Cleveland tend to earn lower salaries than people in expensive coastal areas, but in many ways the Midwesterners’ quality of life is better. Even though they may make less money, it’s easier to purchase a home and build equity while providing for a family," Daryl Fairweather, Redfin's chief economist, said in a press release.

"It’s no secret there’s an affordability crisis in high-priced places like the Bay Area, where modest homes can sell for well over $1 million. But in most of the country, homes are still affordable on the typical local income. That’s one reason people are looking to move to places like Phoenix, Atlanta and Las Vegas, where homes are affordable on realistic incomes," he said.

Here's a look at 12 of the nation's most affordable housing markets, based on the lowest shares of median local income needed to buy a house.

The data for the rankings is derived from a Redfin report analyzing median home prices and local incomes across the country's 88 most populous metropolitan areas.

In the report, household income is based on 2017 figures, while median home sale prices are based off of July 2019 data. Median monthly mortgage payment amounts include taxes.
10-cincinnati-adobe.jpg

No. 12 Cincinnati, Ohio

Share of income needed to buy a house: 63.9%
Median household income: $59,478
Median home sale price: $203,275
Minimum suggested income to afford median house: $38,007
Median monthly mortgage payment: $950
New Haven, Conn.

No. 11 New Haven, Conn.

Share of income needed to buy a house: 63.7%
Median household income: $64,872
Median home sale price: $221,000
Minimum suggested income to afford median house: $41,321
Median monthly mortgage payment: $1,033
NMN052918-oklahoma-city.jpg
A pool stands where the terrorist attack took place in Oklahoma

No. 10 Oklahoma City, Okla.

Share of income needed to buy a house: 62.8%
Median household income: $54,946
Median home sale price: $184,500
Minimum suggested income to afford median house: $34,496
Median monthly mortgage payment: $862
8-Cleveland
Columbus, Ohio beyond The Ohio State University

No. 9 Cleveland, Ohio

Share of income needed to buy a house: 61.9%
Median household income: $52,446
Median home sale price: $173,500
Minimum suggested income to afford median house: $32,439
Median monthly mortgage payment: $811
NMN052918-hartford.jpg
Hartford, CT- OCTOBER 15: The Mark Twain House and Museum on October 15, 2014. It was the home of Samuel Langhorne Clemens (a.k.a. Mark Twain) from 1874 to 1891 in Hartford, Connecticut.

No. 8 Hartford, Conn.

Share of income needed to buy a house: 61.3%
Median household income: $73,209
Median home sale price: $239,950
Minimum suggested income to afford median house: $44,864
Median monthly mortgage payment: $1,122
NMN121917-camden.jpg

No. 7 Camden, N.J.

Share of income needed to buy a house: 60.6%
Median household income: $66,285
Median home sale price: $215,000
Minimum suggested income to afford median house: $40,199
Median monthly mortgage payment: $1,005
NMN041219-st-louis.jpeg

No. 6 St. Louis, Mo.

Share of income needed to buy a house: 60.2%
Median household income: $59,046
Median home sale price: $190,150
Minimum suggested income to afford median house: $35,553
Median monthly mortgage payment: $889
NMN052918-pittsburgh.jpg
Panorama of downtown Pittsburgh skyline at twilight

No. 5 Pittsburgh, Pa.

Share of income needed to buy a house: 60%
Median household income: $56,073
Median home sale price: $180,000
Minimum suggested income to afford median house: $33,655
Median monthly mortgage payment: $841
Buffalo, N.Y.

No. 4 Buffalo, N.Y.

Share of income needed to buy a house: 59.4%
Median household income: $53,534
Median home sale price: $169,999
Minimum suggested income to afford median house: $31,785
Median monthly mortgage payment: $795
Dayton, Ohio
The Miami River travels along passing through Dayton Ohio

No. 3 Dayton, Ohio

Share of income needed to buy a house: 56.6%
Median household income: $51,204
Median home sale price: $155,000
Minimum suggested income to afford median house: $28,980
Median monthly mortgage payment: $725
NMN082817-rochester.jpg
Rochester, New York, USA skyline viewed from the south at dusk with the Genesee River flowing toward the downtown area.

No. 2 Rochester, N.Y.

Share of income needed to buy a house: 54.8%
Median household income: $55,256
Median home sale price: $162,000
Minimum suggested income to afford median house: $30,289
Median monthly mortgage payment: $757
Detroit
Detroit, Michigan.

No. 1 Detroit, Mich.

Share of income needed to buy a house: 47.4%
Median household income: $56,339
Median home sale price: $142,750
Minimum suggested income to afford median house: $26,690
Median monthly mortgage payment: $667
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