Home Affordability In Major Metro Areas

Notes

*Monthly payment includes a 3.5 percent down payment on the house with 1.15 percent property taxes, 0.35 percent property insurance and 0.85 percent mortgage insurance. These monthly payments are considered affordable if less than 31 percent of monthly household income is directed toward monthly payment. “Affordable” here also assumes that a household can shoulder other related housing costs. Median household incomes, estimated at the metro level, are from 2016. Additionally, only metro areas with at least 30 home sales in 2015 are considered.