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Texas

Affordable Metro Areas for America’s Middle Class: 2 Texan Cities Among the Top 10

Creditnews Research, an independent research house, conducted a study across America’s 100 most populous metropolitan areas to identify where middle-class families can still qualify for an average home. Using income tiers based on Pew Research’s household income percentile ranges, they delved into the relationship between income distribution and housing costs.

Their findings revealed that the Midwest and certain parts of the South offer the most affordability for middle-class households, contrasting with the high costs of ultra-desirable coastal cities like San Francisco and New York City, which are often out of reach even for affluent buyers.

Notably, Ohio emerges as a standout state where the middle class can enjoy an affordable lifestyle. Three cities in Ohio made it to Creditnews Research’s top 10 ranking, owing to homeowner incentives such as grants and tax credits. Additionally, cities in Texas and Pennsylvania also secured spots in the top 10.

Leading the list is Youngstown, Ohio, once a vibrant steel industry hub that underwent a decline in the 1970s but has since witnessed an economic and cultural revival. With an income requirement of just over $40,000 to qualify for a typical home, Youngstown offers various incentives for homebuyers, including down payment assistance and discounted mortgage rates.

Moreover, organizations like the Youngstown Neighborhood Development Corporation are actively revitalizing urban neighborhoods in the area, contributing to its affordability. The city boasts a cost of living 18% lower than the national average, with affordable median rent and home values.

Following Youngstown, Toledo, Ohio, secures the second spot on the list. With a qualifying income of approximately $48,500, Toledo offers a significantly lower cost of living compared to cities like New York City, making it an attractive option for middle-class families. Known as the “Glass City,” Toledo provides residents with a low cost of living, abundant outdoor activities, and proximity to major urban centers like Detroit and Cleveland.

In conclusion, Creditnews Research’s study highlights the availability of affordable housing options for middle-class families in select metro areas across the United States, offering hope for those seeking homeownership amidst rising housing costs.

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