The Country's 10 Most Affordable Housing Markets

Tennessee, Michigan each hold 3 spots
Posted Jan 12, 2017 12:13 PM CST
The Country's 10 Most Affordable Housing Markets
Kids play under a water hose from a fire truck at the annual National Night Out event on Tuesday, Aug. 2, 2016, in Saginaw Township, Mich.   (Heather Khalifa/The Saginaw News via AP)

24/7 Wall St. looked at rental affordability and home buying affordability based on average area wages in order to come up with the 25 most affordable housing markets in the US. (Monthly house payments were based on a 3% down payment and included the mortgage, property tax, homeowner's insurance, and private mortgage insurance.) The top 10 markets:

  1. Greene, Tenn.: Ownership cost 14.5% of average monthly wage ($3,055); rent 29.6% of average monthly wage.
  2. Anderson, Tenn.: Ownership cost 16.4% of average monthly wage ($4,489); rent 25.1% of average monthly wage.
  3. Wayne, Mich.: Ownership cost 14.4% of average monthly wage ($4,710); rent 27.5% of average monthly wage.

  1. Trumbull, Ohio: Ownership cost 16.1% of average monthly wage ($3,267); rent 27.7% of average monthly wage.
  2. Rock Island, Ill.: Ownership cost 17.5% of average monthly wage ($4,052); rent 25.3% of average monthly wage.
  3. Bay, Mich.: Ownership cost 16.6% of average monthly wage ($3,293); rent 31% of average monthly wage.
  4. Sullivan, Tenn.: Ownership cost 18.5% of average monthly wage ($3,497); rent 25.4% of average monthly wage.
  5. Saginaw, Mich.: Ownership cost 16.4% of average monthly wage ($3,410); rent 31% of average monthly wage.
  6. Madison, Ala.: Ownership cost 19.2% of average monthly wage ($4,550); rent 23.9% of average monthly wage.
  7. Aiken, SC: Ownership cost 18.7% of average monthly wage ($3,896); rent 27.9% of average monthly wage.
Click for the complete list.

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