The Philadelphia metropolitan area is one of the most affordable housing markets in the country.
An analysis by NerdWallet, a financial advisory firm, looked at the country’s top 100 metro areas and data on debt, median income, housing costs and home prices to determine how much families should spend on a house without blowing their budget and becoming house poor.
Geography matters on both ends of the spectrum. While incomes are high in places like Los Angeles and San Jose, housing prices are so steep they are out of reach for most people. However, places like Ohio offer more affordable housing so a family could buy a bigger house even though incomes are much lower.
Read the full story here.
For more business news, visit PBJ.com.
Copyright bizjournal
