Why move to Ohio? According to Trulia, Ohio currently has the most affordable market for middle class home buyers when the median household income is compared to the price of homes listed of each major city in the US.
Six of the top eleven most affordable cities to live in were in Ohio; Akron, Dayton, Toledo, Cleveland, Columbus, and Cincinnati. Akron, Dayton, and Toledo were the top three.
In Akron, 86% of homes listed were within reach of the middle class when comparing listing prices to median household income. Dayton and Toledo were not far behind.
Even in Cincinnati, Columbus and Cleveland, over 80% of the homes listed were attainable within the average household income.
When we look at the cities that were least affordable by the middle class, well… California took the cake. Seven out of the eleven least affordable cities for the middle class were in California, San Francisco being the least affordable city for the middle class in the entire country. Only 14% of the homes listed are attainable with an average household income of $78,000. Oakland, Ventura County, San Jose, San Diego Orange County, and LA are the other six.
One might ask where Chicago ranks in the picture. Well surprisingly still near the top. Chicago was 13% lower than Akron at 86%. With the median household income in Chicago at $59,000 and able to afford a 1,244 square foot home priced at $254,000, 73% of homes currently listed in Chicagoland are an attainable purchase.
So don’t pack your truck up just yet and head to the Buckeye State, the Chicago metro area is an affordable area to live, and let’s face it, we have better professional sports teams.