Cincinnati ranks the fourth cheapest among 27 major U.S. cities for the salary needed to pay a mortgage on the median home price, according to a report from online HSH mortgage brokers. The report is analyzed by Next City, the news website dedicated to transforming cities and inspiring people who live in them.
Pittsburgh ranks as the cheapest city in the report, with an annual salary of $31,716 required to afford a 30-year fixed-rate mortgage there, where the median home price is $135,000. Cincinnatians need a salary of $33,485 to afford a home mortgage. The rest of the top five cheapest housing are #2 Cleveland, #3 St. Louis and #5 Detroit.
The highest salaries needed to afford a median home price are San Diego ($95,433) and San Francisco ($142,448).
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