Despite rising prices, Tampa Bay remains among the most affordable major metro areas in which to buy a house. The online mortgage resource firm HSH.com found that the buyer of a $235,000 house — the median price of bay area single-family homes — would need an income of $55,105 assuming a 20 percent down payment and a mortgage with a 4.9 percent interest rate. With 10 percent down, the income amount would rise to $63,319.
The most affordable cities are Pittsburgh with a $36,659 income followed by Cleveland ($36,659) and Oklahoma City ($40,437.) The most expensive cities are in California, with San Jose leading with a $254,835 income needed to buy a median-priced house at $1.25 million.
Contact Susan Taylor Martin at email@example.com or (727) 893-8642. Follow @susanskate.