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

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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.
• 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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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.

See the rest of the story at Business Insider

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See Also:

• A Nobel Prize-winning economist and Yale professor explains why buying a big house is a waste of money
• 10 years after I bought my house, I spent over $21,000 for updates and repairs. Here are 6 expenses I never saw coming.
• 8 things to consider before buying a property to renovate, according to a realtor

SEE ALSO: The most expensive and affordable states to buy a house, ranked

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