St. Louis and Kansas City affordable metros for homeownership
- May 06, 2014
St. Louis and Kansas City both rank in the top 10 for homeownership affordability among large U.S. metros with populations over 1 million, according NerdWallet.
St. Louis comes in at No. 4, and Kansas City comes in at No. 7.
NerdWallet looked at over 173 U.S. metro areas to determine where homeownership is most feasible for the average consumer. The list compares a regions median household income with the median home price.
St. Louis has a median household income of $54,109 and a median home price of $134,300, giving the region a 2.5 home price-to-income ratio. Kansas City has a median household income of $56,826 and a median home price of $154,800, giving the region a 2.7 home price-to-income ratio.
NerdWallet is a personal finance website founded in 2009 whose goal is to analyze complex financial decisions about banking, credit cards, education, health care, insurance, investments, mortgages, shopping and travel, and present information in a user-friendly format.
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