Big coastal cities have some of the highest house prices in the country. In comparison, medium-size cities are often relative bargains. But not always.
Each quarter, NerdWallet calculates home Affordability for 172 metropolitan areas for which the National Association of Realtors publishes home prices. NerdWallet narrowed its focus this quarter to 87 medium-size metros with populations between 250,000 and 1 million. They range from Yakima, Washington (population 250,193), to Tulsa, Oklahoma (990,706).
Affordability for buying a home was estimated by comparing each metro area’s median household income with the monthly principal-and-interest payment for a median-priced single-family home in the third quarter.
Continue reading Home affordability watch: price tags in Midsize Metros at STL.News.