Although real estate is becoming increasingly unaffordable for the typical American, there are still places where its possible to become a homeowner on an average income.
A report compiled by CNBC’s Make It identified 15 cities where the qualifying income to purchase a home with a 10 per cent or 20 per cent down payment is an annual salary of $60,000 or less, based on data from the National Association of Realtors’ Metropolitan Median Area Prices and Affordability index from the second quarter of 2019.
The data assumes a 4.1 per cent mortgage rate for all areas and a monthly principal and interest payment limited to 25 per cent of a resident’s income.
The report listed Cleveland, Ohio; St. Louis, Missouri; Lincoln, Nebraska; Baton Rouge, Louisiana; Atlanta, Georgia and Philadelphia, Pennsylvania among the 15 cities where you can become a homeowner while earning $60,000 a year or less
Also listed were three cities in Texas which are Houston, Dallas and San Antonio.
Others are Jacksonville, Florida; Spokane, Washington; Charlotte, North Carolina; Nashville, Tennessee; Orlando, Florida and Milwaukee, Wisconsin.
Don't Let Your PROSTATE Frustrate You! Here's A Better NATURAL Way To Shrink Your Prostate Enlargement! -No Surgery, -No Drugs. Shrink To Normal In Just 15 Days!
Normalize Your Urination And Erection! Just Click To Get It Now!