In many cities, homes prices are becoming increasingly expensive, but there are still places where buyers can find a good deal. The team at HSH.com compiled a list of the 10 metro areas where prospective buyers can afford the base cost of owning a median-priced home – the principal, interest, taxes and insurance payments -- for only around $1,000 per month.
Pittsburgh ranks as the least expensive metro at $755.77 per month on the HSH.com list when buyers put 20% down. If home buyers in the Pittsburgh metro put 10% down instead of 20%, the monthly payment increases from $756 to $866.
When putting 20% down, Cleveland ($803.46/month), Cincinnati, ($867.51/month), St. Louis ($889.73/month), Detroit ($899.31/month), and Atlanta ($935.48/month) comprise the next five least expensive cities.