Tennessee Makes News as Affordable Market
A newly-released study by Bizjournals.com ranked the 50 largest
metropolitan areas in the U.S. as to housing affordability. Tennessee
had TWO cities make it into the top 20!
Memphis ranked 9th, and Nashville ranked 16th!
The study looked at median household income per month and the median
total housing payment per month - for each of the 50 markets - to
compute total housing payment as a percentage of household income. This
showed 22.43% of income spent on housing in Memphis. In Nashville, the
figure was 24.15% spent on housing; in Los Angeles the least affordable city? 75.46%!