5 Affordable, Hip Markets
A new infographic shows how much buying a home costs in major U.S. cities. Five stand out for their affordability and livability.
HowMuch.net's study assumes a 20 percent down payment and spending 28 percent of income on housing. The five cities with the best bang for the buck require a $50,000 annual salary to be able to afford a home, and are mostly Rust Belt cities: Pittsburgh, Cincinnati, Buffalo, N.Y., St. Louis, and Memphis, Tenn., Livability.com reports.
Forget $50,000; to purchase a house in Pittsburgh, PA, you need an annual salary of $38,253 a year. Pittsburgh may not traditionally be seen as a “hip” city, but we beg to differ. The Steel City is also a smart city, with a burgeoning tech scene and more than 30 colleges and universities, including the University of Pittsburgh and the prestigious Carnegie Mellon University.