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Real Estate

The 5 most affordable metros in America — where you get more bang for your buck

By
Julie Taylor
Published Nov. 21, 2024, 5:06 p.m. ET

Home affordability is top of mind for most Americans — but, even with mortgage rates trending higher, there are still cities where it’s possible to own a home without stretching your income too far.

In evaluating the biggest metros in the country, Realtor.com® found that there were five cities where less than 30% of households could afford a home. Los Angeles, Oxnard, San Diego, and San Jose in California and New York City were the least affordable in the country.

But, in five cities—Pittsburgh, Akron, OH, Baltimore, Detroit, and St. Louis—nearly 60% of households can afford a home. And the income required to buy a home there is less than $84,000 annually.

In Akron, for instance, where the median list price is $228,200, 68.5% of households can afford to buy a home. The median household income required to buy a house is just $55,732.

Akron also ranked No. 9 on the Realtor.com Hottest Housing Markets list in October.

Akron was named one of the most affordable metro areas in the country by Realtor.
Akron was named one of the most affordable metro areas in the country by Realtor. Christopher Boswell – stock.adobe.com

“It’s affordable in Akron, which makes a really big difference,” says real estate agent Ali Whitley, of Re/Max Crossroads in Akron. “Gen Z are becoming first-time homebuyers here. It’s a great place to buy in a great area for a reasonable price.”

Affordability is the name of the game in the five money-saving metros below.

Pittsburgh, PA

  • Median list price: $244,000
  • Percentage of households who can afford to buy a median-priced home: 69.6%
  • Median household income required to buy a median-priced home: $58,697
Pittsburgh skyline
Nearly 70% of households in Pittsburgh can afford a median-priced home. Vadim – stock.adobe.com

Akron, OH

  • Median list price: $228,200

  • Percentage of households who can afford to buy a median-priced home: 68.5%

  • Median household income required to buy a median-priced home: $55,732

Baltimore, MD

  • Median list price: $369,995

  • Percentage of households who can afford to buy a median-priced home: 64.1%

  • Median household income required to buy a median-priced home: $83,948
A household would need to make $64,888 to afford a median-priced home in Detroit.
A household would need to make $64,888 to afford a median-priced home in Detroit. LightRocket via Getty Images

Detroit, MI

  • Median list price: $271,200

  • Percentage of households who can afford to buy a median-priced home: 62.6%

  • Median household income required to buy a median-priced home: $64,888

St. Louis, MO

  • Median list price: $299,450

  • Percentage of households who can afford to buy a median-priced home: 62.4%

  • Median household income required to buy a median-priced home: $72,101