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Want To Become a Homeowner? These 6 Major Cities Still Have Affordable Homes

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STLJB / Shutterstock.com

Homeownership has become increasingly unaffordable. Since 1965, average home values have boomed from $171,942 to $374,900 — a 118% increase. However, the median household income has increased just 15%, from $59,920 to $69,178 in 2021-inflation-adjusted dollars, according to research conducted by Clever. The average house price-to-income ratio is now 5.4, meaning that homes cost 5.4 times what the average person earns in a year — more than double the recommended ratio of 2.6.

See: 20 Most Affordable Places To Live That Have Great Weather, Too
Find Out: Here’s Where Home Prices Are Headed in 2022, According To Experts

Fortunately, there are still a handful of major cities where the house price-to-income ratio is lower than or equal to the maximum recommended ratio of 2.6. Here’s a look at the six cities that still have affordable homes.

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1. Pittsburgh

  • Average home value: $190,081
  • Average income: $84,800
  • House price-to-income ratio: 2.2

Read: Craziest Things That Kill Your Home’s Value

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2. Cleveland

  • Average home value: $186,535
  • Average income: $78,600
  • House price-to-income ratio: 2.4

Find Out: 20 Home Renovations That Will Hurt Your Home’s Value

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3. Oklahoma City

  • Average home value: $179,582
  • Average income: $73,200
  • House price-to-income ratio: 2.5

Learn More: 20 Insider Tips To Save Money on Every Part of Your Home

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4. St. Louis

  • Average home value: $208,661
  • Average income: $84,900
  • House price-to-income ratio: 2.5

Don’t Break the Bank: 30 Ways To Upgrade Your Home Without Blowing Your Budget

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5. Birmingham, Alabama

  • Average home value: $197,416
  • Average income: $78,000
  • House price-to-income ratio: 2.5

Tips: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet