Many of the most affordable metroswith the lowest income requirements, are located in the Midwest and parts of the South, with the least expensive city being in Pennsylvania.
Pittsburgh, according to a Realtor.com report, is considered the most affordable metropolis in the country with a median listing price of $245,000. To afford a home in the area, residents will need an annual salary of $65,000, making it one of the lowest income criteria.
As affordability pressures persist, Realtor.com has identified the 10 least expensive cities that require a household income below $85,000 to purchase a home.
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Skyline of Pittsburgh, Pennsylvania. (Robert Knopes/Education Images/Universal Images Group via Getty Images)
The most affordable regions all have similarities, such as more abundant land, more new construction and a lower cost of livingall of which keep home prices from rising as much as in the East and West Coast and Sun Belt markets, according to Hannah Jones, senior economic research analyst at Realtor.com.
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Homes in the Lawrenceville neighborhood of Pittsburgh, Pennsylvania. (Michael Rayne Swensen/Bloomberg via Getty Images)
In Pittsburgh, a household earning $65,000 could afford a monthly housing payment of $1,630, which includes a mortgage with an interest rate of 6.19%, as well as a property taxes and insurance.
To put that into perspective, to afford the November national median list price of $415,000, a buyer would have to earn 70% more than in Pittsburgh.
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Here are other affordable metros and the income needed to buy a home in each, according to Realtor.com data:
A person rides a bicycle along Laurel Street in Buffalo, New York. (Kent Nishimura/Los Angeles Times via Getty Images)
Cleveland, Ohio
• Median listing price: $250,000
• Income needed: $66,538 per year
Detroit, Michigan
• Median listing price: $255,000
• Income needed: About $68,000 per year
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Buffalo, New York
• Median listing price: $259,900
• Income needed: $69,173 per year
St. Louis, Missouri
• Median listing price: $291,900
• Income needed: $77,690 per year
