SitemapWhere can middle class families still qualify for an average home? Creditnews Research, an independent research house, studied the relationship between income distribution and housing costs across the 100 most populous metropolitan areas in America to find out. The report used income tiers based on Pew Research’s household income percentile ranges for economic classes:
Lower-middle class: $30,001-$58,020
Middle class: $58,021-$94,000
Upper-middle class: $94,001-$153,000
Overall, Creditnews Research found that the Midwest and parts of the South are the most affordable options for middle-class households right now, while ultra-desirable coastal cities like San Francisco and New York City are not an option — even for affluent buyers.
The state of Ohio stands out as a place where America’s middle class can find an affordable way of life. Three cities in the Buckeye State made Creditnews Research’s top 10 ranking, thanks to homeowner incentives like grants and tax credits. More than one city in Texas and Pennsylvania also made the top 10.
Youngstown, Ohio, is the most affordable metro area for America’s middle class.
Youngstown was once a bustling city thanks to the steel industry but suffered a a collapse in the 1970s. Since then, it has experienced an economic and cultural renaissance. Buyers need an income of just over $40,000 to qualify for a typical home.
According to the Ohio Housing Finance Agency, Youngstown offers incentives for prospective homebuyers, such as down payment assistance, grants for graduates, discounted mortgage interest rates for residents who serve the public, and more.
The Ohio city also has organizations like the Youngstown Neighborhood Development Corporation that are working on revitalizing urban neighborhoods in the area, according to U.S. News and World Report.
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