Only six major US cities have median home prices that a family with a local median income could afford.
A April report by Clever Real Estate compared the income needed to afford a home in major US cities with the actual income earned by a typical household.
The report considered a home affordable for a given buyer if it met the criteria Rule 28/36which advises buyers to spend a maximum of 28% of their monthly income on housing, plus an additional 8% paying off other debt such as credit card or car bills.
Even with a 20% down payment, the standard home buyer making the median local wage would not be able to afford a home listed at a median market price in 44 of the top 50 cities.
Home mortgage rates are also high now, which can prevent sellers from listing homes and buyers from buying them.
Here are six cities with homes average earners can afford.
1. Pittsburgh, Pennsylvania
Pittsburgh, Pennsylvania. Credit: Getty Images
Current income: 70 607 dollars
Income needed to afford the average home: $59,919
Average local home sale price: $199,573
2. Cleveland, Ohio
Current income: $65,198
Income needed to afford the average household: $56,378
Average local home sales price: $182,652
3. St. Louis, Missouri
St. Louis, Missouri. Credit: Getty Images
Current income: $74,531
Income needed to afford the average home: $66,743
Average local home sales price: $225,674
4. Memphis, Tennessee
Current income: $64,008
Income needed to afford the average home: $61,659
Average local home sale price: $213,929
5. Indianapolis, Indiana
Current income: $75,824
Income needed to afford the average home: $73,398
Average local home sale price: $257,584
6. Birmingham, Alabama
Birmingham, Alabama. Credit: Getty Images
Current income: $67,242
Income needed to afford the average home: $65,216
Average local home sale price: $235,212