Affordable Homeownership: 11 US Metro Areas Buck the Trend Amid Rising Prices

June 1, 2025
Affordable Homeownership: 11 US Metro Areas Buck the Trend Amid Rising Prices
  • Home ownership has become increasingly unrealistic for many Americans, as rising home values and mortgage rates outpace income growth, making it difficult for families to afford homes.

  • Zillow's senior economist, Orphe Divounguy, highlights that affordability issues are particularly pronounced in major cities, where the dream of owning a home seems out of reach for many.

  • Despite these challenges, Zillow's analysis identifies 11 metro areas where a median family can still afford homes with a 10% down payment, including cities like Pittsburgh, Toledo, and St. Louis.

  • For those who can manage a 20% down payment, several metro areas remain affordable, although most individuals struggle to save that amount.

  • The most affordable locations are primarily found in the Midwest and South, where lenient zoning codes enable builders to respond quickly to housing demand.

  • During the pandemic, home values surged in the Midwest and Great Lakes regions, yet many of these areas still offer lower prices compared to the national average.

  • Buffalo, New York, once known for its affordability, is now experiencing rising prices and limited inventory due to strong job growth and a competitive housing market.

  • Detroit stands out with some of the lowest home prices in the country, featuring a median sale price of $180,000, making it appealing for buyers seeking homes under $300,000.

  • Zillow also provides detailed monthly payment estimates for various cities, allowing potential buyers to understand the cost of homeownership under different down payment scenarios.

Summary based on 18 sources


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