Skip to main content

The Most Affordable Metro for Middle-Class Families Is …

Aug 20, 2019
Photo credit: Getty Images/TracieMichelle

A middle-class family in the Detroit metro area would only need to earn $26,690 per year to purchase a home at the area's median price point, according to a new data analysis by Redfin, which noted that sum is less than half of the area's $56,339 median income, making it the most affordable metro in the nation.
 
Other affordable metro areas for middle-class families include the western New York markets of Rochester and Buffalo plus Dayton, Ohio, where families need to earn about $30,000 annually–roughly about half of each area's median household income–to buy the typical home. Rounding out the top five is Pittsburgh, where households need to earn just over $30,000–also much less than the area's median income–to buy a median-priced home.
 
At the other end of the spectrum, San Francisco was ranked least affordable. In that market, the median household income of $92,714 falls far wildly short of the $265,000 per year needed to afford a median-priced home, which costs $1.42 million. The other five least affordable metros are all in California: Anaheim, San Jose, Los Angeles and San Diego.
 
“People who live in places like Detroit, Pittsburgh and Cleveland tend to earn lower salaries than people in expensive coastal areas, but in many ways, the Midwesterners' quality of life is better,” said Redfin Chief Economist Daryl Fairweather. “Even though they may make less money, it's easier to purchase a home and build equity while providing for a family. It's no secret there's an affordability crisis in high-priced places like the Bay Area, where modest homes can sell for well over $1 million. But in most of the country, homes are still affordable on the typical local income. That's one reason people are looking to move to places like Phoenix, Atlanta and Las Vegas, where homes are affordable on realistic incomes.”

 
About the author
Published
Aug 20, 2019
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid mounting pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next