Even with all of our local tax uproar and a high number of foreclosures, Forbes magazine still ranks Indianapolis as #1 in housing affordability.
If you're not uncomfortable with your monthly mortgage payment and don't obsessively check refinancing rates, chances are you live in one of America's most affordable areas.
Homeowners in Indianapolis know what that's like. Its residents don't have to scrimp and save to afford a home at the median price. There, the bulk of the housing stock is well within reach of the average household. Savings depleted? According to our calculations, it would take just two years of gross salary to become a homeowner there.
What I think is scary is that there are probably still 1,000's of people that struggle with their finances every month. And many more that believe they cannot afford to buy a home and continue to help their landlords fufill their financial goals. It doesn't matter what things cost, it matters what we save and don't spend doesn't it? Simply being affordabel does not make it sensible to live above your means, howver it does mean many people can begin building wealth by being their own landlord. Here's how the Top 10 cities played out.
- Indianapolis, IN
- Cleveland, OH
- Detroit, MI
- Pittsburgh, PA
- Cincinnati, OH
- St. Louis, MO
- Atlanta, GA
- Greensboro, NC
- Dallas, TX
- Austin, TX
- Article: Indy tops Forbes' most-affordable list
- Source: Most Affordable U.S. Real Estate Markets on Forbes
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