SmartAsset has analyzed where home buyers can get the most bang for their bucks.

In order to find the places where the average household can afford the least and most house, we looked at data on the 25 largest metro areas. Specifically, we looked at median household income, average non-mortgage debt and local median home values to create our rankings. Check out our data and methodology below to see where we got our data and get a more in-depth description of how we put it together to create our rankings.

Key Findings

  • California still unaffordable – As residents in the Golden State can attest, homes in California are expensive. And even residents in the highest-paying regions of the state are priced out of the housing market. In metro areas like San Diego, San Francisco and Los Angeles, only the wealthiest locals can afford to buy a home.
  • It’s not all doom and gloom – In nine out of the 25 metro areas we analyzed, the median household should be able to afford the average home. For the most part, it is affordable metro areas in the Midwest and the South where locals have the best chance at becoming a homeowner. Although even one Northeast metro area – Philadelphia – cracks the top 10.
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