Although median home price growth has slowed from its once-maniacal pace, purchasing a home is still an expensive feat as existing-home prices reached $375,700 in March. Inflation and elevated mortgage rates have created additional financial pressure and placed homebuyers on precarious hunts for affordable homes — even if they have to switch their area codes. California-based boutique brokerage RubyHome crunched Zillow median home price and median household income data for all 50 states and revealed Illinois, Ohio, Oklahoma, Michigan, Missouri, Indiana, Arkansas, West Virginia, New York and Alabama offer the best income-to-sale-price ratios.
Source: Inman News
And the cheapest state to buy a home is…
Published in affordability, alabama, arkansas, homebuyers, homebuying, household income, illinois, indiana, Markets & Economy, median sale price, michigan, Missouri, new york, ohio, oklahoma, Select, west virginia and Zillow
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