Homebuyers have faced challenges in recent years due to rising home prices and high mortgage rates. However, a recent study from GOBankingRates identified 32 major cities where a household can purchase a home with an income of just $100,000 or less. The most affordable metros include St. Louis, where those who earn $65,692 per year can afford a home; Laredo, Texas, where buyers need to make $69,003 per year; and Milwaukee, where buyers need to earn $70,807 per year.
The study considered the cost of mortgage payments, groceries, health care, utilities and miscellaneous items and made sure a homeowner could live comfortably while still paying the bills.
PB Topical Ref
