10 major US cities where it is easy to buy a house

Mortgage rates are at record low levels, but this does not mean that buying a house in the US is cheap now. Low mortgage rates and a shortage of housing stimulated the growth of housing prices. Writes about this Grow.

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According to the National Association of housing builders, the average price of housing in the U.S. jumped to a record level of $300,000 in the second quarter of this year compared to $280 000 in the first quarter. Higher housing prices and lower incomes due to the pandemic indicate that only about 60% of the homes sold in the second quarter were considered affordable for families earning the median income of $72 900 dollars.

But the real estate market is not always so scary buyers. If you want to buy a house and unable to move, you may want to consider one of the following cities. According to the capacity Index of housing construction, it is large urban areas with a population of at least 500,000 people – where housing is most affordable.

1. Scranton (PA)

  • The share of homes affordable to people with middle income: 89%
  • Average income: $66 600.
  • Average sale price: $120 000.

2. Harrisburg (PA)

  • The share of homes affordable for people with average income: 88%
  • Average income: $79 000
  • The average sale price home: $170 000

3. Pittsburgh (PA)

  • The share of homes affordable for people with average income: 87%
  • Average income: $77 100
  • Average sale price: $155 000

4. St. Louis (Mo)

  • The share of homes affordable for people with average income: 87%
  • Average income: $77000
  • Average sale price: $165 000

5. Wilmington (Delaware)

  • The share of homes affordable for people with average income: 87%
  • Average income: $84 200
  • Average sale price: $228 000

6. Indianapolis (In)

  • The share of homes affordable for people with average income: 86%
  • Average income: $76 200
  • Average sale price: $195 000

7. Toledo (Oh)

  • The share of homes affordable for people with average income: 86%
  • Average income: $66 800
  • Average sale price: $141 000

8. Albany (New York)

  • The share of homes affordable to people with middle income: 85%
  • Average income: $92 200
  • Average selling price: $220 000

9. Syracuse (New York)

  • The share of homes affordable to people with middle income: 84%
  • Average income: $70 400
  • Average sale price: $145 000

10. Cincinnati (Oh)

  • The share of homes affordable to people with middle income: 84%
  • Average income: $80 200
  • Average sale price: $185 000

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