Pittsburgh: The Most Budget-Friendly Metro Where a $65,000 Income Secures Homeownership
American Real Estate Association co-founder Jason Haber unpacks the state of the housing market and assesses Redfin’s announcement of a ‘great housing reset’ coming in 2026 on ‘The Claman Countdown.’
Many of the most affordable metros, with the lowest income requirements, are located in the Midwest and parts of the South. Notably, the cheapest city is situated in Pennsylvania.
Pittsburgh has emerged as the most affordable metro in the nation, boasting a median listing price of just $245,000. To purchase a home in this area, residents need an annual salary of $65,000, making it one of the lowest income requirements in the country.
As affordability pressures continue, Realtor.com has identified the ten least expensive cities where household incomes below $85,000 are sufficient to buy a home.
HOUSING EXPERT WARNS PRE-PANDEMIC AFFORDABILITY LEVELS MAY NEVER RETURN IN AMERICA
Skyline of Pittsburgh, Pennsylvania. (Robert Knopes/Education Images/Universal Images Group via Getty Images)
The most affordable regions share common characteristics, such as abundant land, new construction, and a lower cost of living. These factors help keep home prices from surging as dramatically as they have in markets along the East and West coasts and in the Sun Belt, according to Realtor.com senior economic research analyst Hannah Jones.
TRUMP HOUSING PLAN COULD BRING ‘BIG WIN’ FOR AMERICANS, PULTE SAYS
Homes in the Lawrenceville neighborhood of Pittsburgh, Pennsylvania. (Michael Rayne Swensen/Bloomberg via Getty Images)
In Pittsburgh, a household earning $65,000 can afford a monthly housing payment of $1,630, which includes a mortgage at a 6.19% interest rate, along with property taxes and insurance.
To put this into perspective, to afford the national median list price of $415,000 as of November, a buyer would need to earn 70% more than what is required in Pittsburgh.
ESCROW PAYMENTS RISING NATIONWIDE WITH HOMEOWNERSHIP LESS ATTAINABLE
Here are other affordable metros along with the income needed to buy a home in each, based on Realtor.com data:
A person rides a bike along Laurel Street in Buffalo, NY. (Kent Nishimura / Los Angeles Times via Getty Images)
Cleveland, Ohio
• Median listing price: $250,000
• Income needed: $66,538 annually
Detroit, Michigan
• Median listing price: $255,000
• Income needed: About $68,000 annually
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Buffalo, New York
• Median listing price: $259,900
• Income needed: $69,173 annually
St. Louis, Missouri
• Median listing price: $291,900
• Income needed: $77,690 annually
American Real Estate Association co-founder Jason Haber unpacks the state of the housing market and assesses Redfin’s announcement of a ‘great housing reset’ coming in 2026 on ‘The Claman Countdown.’
Many of the most affordable metros, with the lowest income requirements, are located in the Midwest and parts of the South. Notably, the cheapest city is situated in Pennsylvania.
Pittsburgh has emerged as the most affordable metro in the nation, boasting a median listing price of just $245,000. To purchase a home in this area, residents need an annual salary of $65,000, making it one of the lowest income requirements in the country.
As affordability pressures continue, Realtor.com has identified the ten least expensive cities where household incomes below $85,000 are sufficient to buy a home.
HOUSING EXPERT WARNS PRE-PANDEMIC AFFORDABILITY LEVELS MAY NEVER RETURN IN AMERICA
Skyline of Pittsburgh, Pennsylvania. (Robert Knopes/Education Images/Universal Images Group via Getty Images)
The most affordable regions share common characteristics, such as abundant land, new construction, and a lower cost of living. These factors help keep home prices from surging as dramatically as they have in markets along the East and West coasts and in the Sun Belt, according to Realtor.com senior economic research analyst Hannah Jones.
TRUMP HOUSING PLAN COULD BRING ‘BIG WIN’ FOR AMERICANS, PULTE SAYS
Homes in the Lawrenceville neighborhood of Pittsburgh, Pennsylvania. (Michael Rayne Swensen/Bloomberg via Getty Images)
In Pittsburgh, a household earning $65,000 can afford a monthly housing payment of $1,630, which includes a mortgage at a 6.19% interest rate, along with property taxes and insurance.
To put this into perspective, to afford the national median list price of $415,000 as of November, a buyer would need to earn 70% more than what is required in Pittsburgh.
ESCROW PAYMENTS RISING NATIONWIDE WITH HOMEOWNERSHIP LESS ATTAINABLE
Here are other affordable metros along with the income needed to buy a home in each, based on Realtor.com data:
A person rides a bike along Laurel Street in Buffalo, NY. (Kent Nishimura / Los Angeles Times via Getty Images)
Cleveland, Ohio
• Median listing price: $250,000
• Income needed: $66,538 annually
Detroit, Michigan
• Median listing price: $255,000
• Income needed: About $68,000 annually
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Buffalo, New York
• Median listing price: $259,900
• Income needed: $69,173 annually
St. Louis, Missouri
• Median listing price: $291,900
• Income needed: $77,690 annually
