MoneyGeek compiled a recent analysis looking at homeownership costs and found 20 counties across the country where owning a home wasn’t too out from the area’s median income. The site looked at data from the National Associations of Realtors, including historical home prices, median mortgage payments, and fair market rent. In addition, they looked at data from SmartAsset for local property tax rates and U.S. Census data to calculate population growth and median earnings to find the counties in the country that are growing, but still affordable. To make the list of “desirable” counties that have affordable housing, several metrics had to be met. “To qualify for the list, the estimated monthly homeownership cost — including mortgage, property taxes, insurance, etc. — had to be under 50% of the monthly median income,” MoneyGeek explains. “That means the average county resident buying the average-priced house would be spending anywhere from 34% to 49% of their income on housing costs.”
20 Most Affordable and Desirable Counties:
To see the full set of data, check out MoneyGeek.
