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Pittsburgh Tops All Metros In Housing Affordability Based On Income

March 6, 2019

Pittsburgh is the leading metro when it comes to housing affordability based on income, according to a recent report. The minimum salary to be able to purchase a median-priced home is $37,659.86, according to Reverse Mortgage Daily

 

RMD cited HSH.com, which compiled a list of the most affordable metros across the nation. 

 

"Covering the top 50 metropolitan areas, the report uses the latest quarterly home price data from the National Association of Realtors (NAR), incorporating local property tax and homeowner’s insurance costs, and calculates the income needed to qualify for a median-priced home in each market," said HSH in a statement released alongside the report, according to RMD.

 

The report also shared some of the least affordable markets with four California metros taking the top spots. In contrast to Pittsburgh, San Jose, California stands as the least affordable metro with a minimum salary of $254,835.73 necessary to purchase a median-priced home. 

 

"While HSH notes that home price gains appear to be cooling off on a general basis, home prices still saw an increase in 48 of the 50 metropolitan areas on an annual basis," according to the report.

 

To learn more about the HSH report, click on the image above

 

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