— Milwaukee homeowners can rest assured that they are getting
the best bang for their buck.
to rankings provided by RealtyHop on the most affordable housing
markets in the country, Milwaukee is one of the most affordable
markets in the U.S. Madison hovers around the middle of the pack.
to their website, the RealtyHop Affordability Index analyzes both
proprietary and ACS Census data to provide an index of housing
affordability and homeownership burden across the 100 most
populous cities in the country.
household incomes, median for-sale home listing prices, local
property taxes and mortgage expenses — assuming a 30-year
mortgage, 4.5% interest rate and 20% down payment — are all
rankings list 1-100, with No. 1 being the least affordable market.
is ranked at number 78 with a median household income of $32,289
and median home price of $134,500. The average estimated mortgage
is $827 with 25.9% of income going toward the monthly payment.
is ranked at 42 this year with the median household income coming
in at $59,387. Median home prices hover around $285,000 and the
estimated mortgage is $1,662. The average household can expect to
spend 33.5% of their monthly income on their mortgage.
up the list of the least affordable housing markets in the country
is Los Angeles at No. 1, New York City at No. 2, Miami at No. 3,
San Francisco at No. 4 and Oakland at No. 5.
was ranked as the most affordable market in the country.