Here are the US counties where people earning average incomes can’t afford mid-priced homes — and where they can

Business Insider | 6/28/2019 | Erin McDowell
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In 74% of the US counties analyzed, median home prices were not affordable for average wage earners.

Median-priced homes in Los Angeles, California; Chicago, Illinois; Phoenix, Arizona; San Diego County, California; and Orange County, California were not affordable for the average wage worker.

Wage - Workers - Homes - Houston - Texas

Average wage workers could still afford median-priced homes in Houston, Texas; Detroit, Michigan; Philadelphia County, Pennsylvania; Cleveland, Ohio; and Columbus, Ohio.

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US - Home - Affordability - Report - ATTOM

According to a 2019 US Home Affordability Report by ATTOM Data Solutions, a majority of median-priced homes are still not affordable to workers making the average wage in each area of the country that was analyzed.

In 353 of 480 US counties analyzed in the report (74%), workers making the average income could not afford to make monthly house payments on a median-priced home in their area.

Study - Workers - Wage - Home - County

The study determined whether or not workers earning the average wage could afford a median-priced home by comparing the average weekly annualized salary in each county with the monthly expenses associated with median-priced homes in each area. Mortgage payments, property taxes, insurance, plus...
(Excerpt) Read more at: Business Insider
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