St Louis:Metro Area Homes Under $1000 Month
According to MarketWatch St Louis is ranked among 6 cities where you can own a home under a $1000 a month.
The average monthly cost of home ownership in the Gateway city? $876.00
The minimum salary needed: $37,527.
6 Cities Where You Don’t Have to Make a Lot of Money to Buy a Decent Home
Pittsburgh was ranked as the most affordable metropolitan area in the US for hopeful home buyers with a monthly cost at $746.
HSH.com is a mortgage-data company which analyzed housing affordability in 27 cities throughout the country.
They analyzed the costs – including principal, interest, taxes and insurance payments of buying a median-priced home using a 30 year fixed-rae loan. Loan rates were based on people with a credit score of 740 or higher and put down 20%.
City | Cost of Home Ownership | Min. Salary Needed |
---|---|---|
Pittsburgh | $756 | $32,390 |
Cleveland | $803 | $34,434 |
Cincinnati | $868 | $37,179 |
St. Louis | $890 | $$38,131 |
Detroit | $899 | $38,542 |
Atlanta | $935 | $40,292 |
Phoenix | $1,043` | $44,716 |
Tampa | $1,047 | $44,875 |
San Antonio | $1,138 | $48,753 |
Orlando | $1,1152 | $49,382 |
Comparing Home Prices in St. Louis vs San Francisco
A median priced home in San Francisco would cost you more than $3,551 per month and you would need a salary of $150,00 or more to purchase.
St. Louis is looking better all the time.
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