28 Cheap Cities for First-Time Homebuyers on a Budget: Report
source link: https://www.businessinsider.com/real-estate-housing-market-cheap-home-prices-mortgage-rates-affordability-2024-2
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1. Detroit, Michigan
Median starter home price: $42,871
Median income for couples: $44,196
Maximum mortgage afforded by couples with that income: $145,498
Source: Point2
2. Toledo, Ohio
Median starter home price: $51,757
Median income for couples: $57,573
Maximum mortgage afforded by couples with that income: $195,103
Source: Point2
3. Cleveland, Ohio
Median starter home price: $53,524
Median income for couples: $51,524
Maximum mortgage afforded by couples with that income: $168,554
Source: Point2
4. St. Louis, Missouri
Median starter home price: $69,776
Median income for couples: $76,221
Maximum mortgage afforded by couples with that income: $267,272
Source: Point2
5. Memphis, Tennessee
Median starter home price: $72,570
Median income for couples: $59,492
Maximum mortgage afforded by couples with that income: $192,602
Source: Point2
6. Baltimore, Maryland
Median starter home price: $93,691
Median income for couples: $64,069
Maximum mortgage afforded by couples with that income: $210,680
Source: Point2
7. Wichita, Kansas
Median starter home price: $106,173
Median income for couples: $75,957
Maximum mortgage afforded by couples with that income: $248,049
Source: Point2
8. Tulsa, Oklahoma
Median starter home price: $106,942
Median income for couples: $71,100
Maximum mortgage afforded by couples with that income: $231,500
Source: Point2
9. Milwaukee, Wisconsin
Median starter home price: $109,468
Median income for couples: $62,548
Maximum mortgage afforded by couples with that income: $199,218
Source: Point2
10. Oklahoma City, Oklahoma
Median starter home price: $115,500
Median income for couples: $77,103
Maximum mortgage afforded by couples with that income: $254,210
Source: Point2
11. Philadelphia, Pennsylvania
Median starter home price: $116,086
Median income for couples: $65,054
Maximum mortgage afforded by couples with that income: $229,285
Source: Point2
12. Kansas City, Missouri
Median starter home price: $120,656
Median income for couples: $81,085
Maximum mortgage afforded by couples with that income: $276,120
Source: Point2
13. Corpus Christi, Texas
Median starter home price: $123,810
Median income for couples: $63,642
Maximum mortgage afforded by couples with that income: $184,888
Source: Point2
14. Lubbock, Texas
Median starter home price: $126,937
Median income for couples: $76,376
Maximum mortgage afforded by couples with that income: $235,483
Source: Point2
15. Pittsburgh, Pennsylvania
Median starter home price: $127,295
Median income for couples: $84,264
Maximum mortgage afforded by couples with that income: $287,449
Source: Point2
16. Indianapolis, Indiana
Median starter home price: $132,293
Median income for couples: $80,265
Maximum mortgage afforded by couples with that income: $275,475
Source: Point2
17. Fort Wayne, Indiana
Median starter home price: $133,747
Median income for couples: $73,742
Maximum mortgage afforded by couples with that income: $252,163
Source: Point2
18. Laredo, Texas
Median starter home price: $137,225
Median income for couples: $43,090
Maximum mortgage afforded by couples with that income: $97,785
Source: Point2
19. Buffalo, New York
Median starter home price: $141,994
Median income for couples: $58,101
Maximum mortgage afforded by couples with that income: $162,923
Source: Point2
20. New Orleans, Louisiana
Median starter home price: $143,664
Median income for couples: $67,301
Maximum mortgage afforded by couples with that income: $220,895
Source: Point2
21. Louisville, Kentucky
Median starter home price: $144,144
Median income for couples: $78,950
Maximum mortgage afforded by couples with that income: $269,556
Source: Point2
22. Winston-Salem, North Carolina
Median starter home price: $146,952
Median income for couples: $70,202
Maximum mortgage afforded by couples with that income: $231,090
Source: Point2
23. Cincinnati, Ohio
Median starter home price: $148,505
Median income for couples: $76,841
Maximum mortgage afforded by couples with that income: $249,517
Source: Point2
24. Columbus, Ohio
Median starter home price: $152,097
Median income for couples: $76,526
Maximum mortgage afforded by couples with that income: $246,096
Source: Point2
25. Greensboro, North Carolina
Median starter home price: $154,290
Median income for couples: $76,355
Maximum mortgage afforded by couples with that income: $253,292
Source: Point2
26. El Paso, Texas
Median starter home price: $161,657
Median income for couples: $56,095
Maximum mortgage afforded by couples with that income: $136,966
Source: Point2
27. Chicago, Illinois
Median starter home price: $162,091
Median income for couples: $81,952
Maximum mortgage afforded by couples with that income: $250,556
Source: Point2
28. San Antonio, Texas
Median starter home price: $167,563
Median income for couples: $66,412
Maximum mortgage afforded by couples with that income: $182,285
Source: Point2
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