Where Buyers With $60k Income Can Score a Home

November 13, 2018

The middle class may be feeling priced out of the housing market in many areas lately. After all, rising home prices and rising mortgage rates are making it more difficult for the average-income worker to break into homeownership. But that’s not the case everywhere.

Realtor.com®’s data team identified the locales where middle-class buyers are most likely to be able to afford a home and have plenty of choices in their search, too. U.S. Census Bureau data shows that the middle-income family earns a median household gross income of $61,372 per year. Financial experts advise not spending more than 28 percent of your annual income on housing costs, which amounts to annual housing costs of $16,800 for a middle-class consumer. Realtor.com® analyzed the 50 largest metros to find the supply of available housing at or below $257,400.

The following cities topped realtor.com®’s list of where a person earning a $60,000 salary could comfortably afford a home:

1. Pittsburgh

  • Median list price: $179,100
  • Share of affordable homes: 64.3%

2. Rochester, N.Y.

  • Median list price: $177,500
  • Share of affordable homes: 63.1%

3. Buffalo, N.Y.

  • Median list price: $185,100
  • Share of affordable homes: 61.8%

4. St. Louis

  • Median list price: $209,500
  • Share of affordable homes: 61.7%

5. Cleveland

  • Median list price: $179,500
  • Share of affordable homes: 61.7%

6. Birmingham, Ala.

  • Median list price: $219,200
  • Share of affordable homes: 55.7%

View the full list at realtor.com®.