Where Is Housing Affordable?

According to SmartAsset, most experts recommend that homebuyers purchase homes that are about 2.5 times their annual income. The company recently published a study showing where this is possible.

SmartAsset found that housing is more affordable in the Midwest. In cities like Detroit, Michigan; Toledo, Ohio; and Fort Wayne, Indiana the average house costs less than 2.5 times the median annual income.

California, on the other hand, had seven of the ten most expensive places to own a home. In cities like Los Angeles, San Francisco, and Oakland, average-priced housing is more than nine times the median annual income.

Read more