Ninety Nine Percent Of Local Homes Are TOO Pricey For The Typical Bostonian MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 In twenty eight cities across the nation, the typical local family can afford less than one percent of for-sale properties. Among them: Boston. According to U.S. Bank, an “affordable” housing payment costs no more than twenty eight percent of household income. Based on that metric, a recent NetCredit study analyzed listings from the country’s largest cities to determine where residents can reasonably afford local homes.

 NetCredit compared each city’s median household income against the home prices found on Zillow. In nine markets, the median household could afford zero percent of local properties. Those included, in California, Fremont, Long Beach, Oakland, San Jose and Santa Ana. Also, Portland, Maine; Newark, N.J.; Providence, R.I.; and Burlington, Vermont. In Boston, the median household can comfortably afford just point twenty eight percent of local properties.

 Meanwhile, the ten most affordable markets to locals were Toledo, Ohio (the median household could afford fifty three percent of properties there); Detroit (fifty two point ninety six percent); Charleston, West Virginia (forty nine point seventy three percent); Jackson, Mississippi (forty nine point sixty eight percent); Baltimore (thirty two point fourteen percent); Cleveland (thirty point ninety seven percent); St. Louis (thirty point seventy seven percent); Memphis, Tennessee (thirty point fifteen percent); Kansas City, Kansas (twenty five point sixty percent); and Little Rock, Arkansas (twenty five point fifty two percent).

The post 99% of local homes are too pricey for the typical Bostonian appeared first on Boston Agent Magazine.

FIRST TIME HOMEBUYERS

Buyer’s Agents Explained