Real estate giant reveals the salary needed to buy a home in America’s cheapest cities

Many of the most affordable metros, with the lowest income requirements, are located in the Midwest and parts of the South, with the cheapest city sitting in Pennsylvania. Pittsburgh, according to a report from Realtor.com, is considered the most affordable metro in the nation with a median listing price of $245,000. To afford a home in the area, residents will need an annual salary of $65,000, making it one of the lowest income requirements. As affordability pressures persist, Realtor.com identified the 10 least expensive cities that require household incomes below $85,000 to purchase a home. HOUSING EXPERT WARNS PRE-PANDEMIC AFFORDABILITY LEVELS MAY NEVER RETURN IN AMERICA Skyline of Pittsburgh, Pennsylvania. (Robert Knopes/Education Images/Universal Images Group via Getty Images)The most affordable regions all have similarities, such as more abundant land, more new construction, and a lower cost of living, all of which keep home prices from surging as much as they have in markets on the East and West coasts and in the Sun Belt, according to Realtor.com senior economic research analyst Hannah Jones. TRUMP HOUSING PLAN COULD BRING ‘BIG WIN’ FOR AMERICANS, PULTE SAYS Homes in the Lawrenceville neighborhood of Pittsburgh, Pennsylvania. (Michael Rayne Swensen/Bloomberg via Getty Images)In Pittsburgh, a household earning $65,000 could afford a $1,630 monthly housing payment, which includes a mortgage assuming a 6.19% interest rate, as well as property taxes and insurance. To put this in perspective, to afford the November national median list price of $415,000, a buyer would need to earn 70% more than they would in Pittsburgh. ESCROW PAYMENTS RISING NATIONWIDE WITH HOMEOWNERSHIP LESS ATTAINABLEHere are other affordable metros and the income needed to buy a home in each, according to Realtor.com data: A person rides a bike along Laurel Street in Buffalo, NY. (Kent Nishimura / Los Angeles Times via Getty Images)Cleveland, Ohio• Median listing price: $250,000• Income needed: $66,538 annuallyDetroit, Michigan• Median listing price: $255,000• Income needed: About $68,000 annuallyGET FOX BUSINESS ON THE GO BY CLICKING HEREBuffalo, New York• Median listing price: $259,900• Income needed: $69,173 annuallySt. Louis, Missouri• Median listing price: $291,900• Income needed: $77,690 annually