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Another study looking at how income compares to housing prices in the 25 largest cities in the United States shows how even in San Antonio, which is in the bottom five lowest income cities, the lower income levels mean many families can't afford median priced homes. The Interest.com study shows that San Antonio's median income falls below the income required to purchase a median priced home, but only slightly. This .55 percent difference earns San Antonio a C- in the Income.com study. -------------------
Just to compare, Detroit is also in the bottom five cities with the lowest income and finds itself in a much better position because of how the median income compares to the price of a median priced home. The percent that Detroit's median income exceeds the income required for a median priced home is 45 percent.
A median-income household can only afford a median-priced home in 14 of the nation's 25 largest metropolitan areas Atlanta, Detroit and Minneapolis-St. Paul are the most affordable cities, according to Interest.com's first Home Affordability Study. San Diego, New York and San Francisco are the least affordable.
