These Are the Only 3 US Cities With Affordable Homes, According to the 30% Rule
Find Out:
Read Next:
Yet in 47 of the 50 major U.S. metros, the monthly cost of owning a median-priced home is more than 30% of the area's median household income, according to a new Realtor.com report. (The analysis assumed a 20% down payment and a typical 30-year fixed mortgage rate of 6.82%.)
Here's a look at the only three major U.S. metro areas where the average household can afford the costs of owning a typical home.
Median home list price (May 2025): $249,900
Annual mortgage payment + tax and insurance: $19,970
Median household income: $72,935
% of income needed to cover housing costs: 27.4%
Check Out:
Median home list price (May 2025): $270,000
Annual mortgage payment + tax and insurance: $21,576
Median household income: $72,493
% of income needed to cover housing costs: 29.8%
Median home list price (May 2025): $299,900
Annual mortgage payment + tax and insurance: $23,966
Median household income: $79,869
% of income needed to cover housing costs: 30%
More From GOBankingRates
3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025
6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives
10 Cars That Outlast the Average Vehicle
This article originally appeared on GOBankingRates.com: These Are the Only 3 US Cities With Affordable Homes, According to the 30% Rule
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Verge
12 minutes ago
- The Verge
Nvidia says it can sell AI chips to China again.
Posted Jul 15, 2025 at 8:18 AM UTC Nvidia says it can sell AI chips to China again. The company has been 'assured' by the US government that licenses to sell its H20 GPU will be granted, and hopes to resume deliveries 'soon' — along with launching a new RTX Pro GPU for China too. Nvidia has been lobbying for the right to sell the H20 to Chinese customers, since that's what it was designed for — it's a stripped back chip built to match US export controls.
Yahoo
an hour ago
- Yahoo
Bank of England to ease rules for smaller and mid-sized banks
The Bank of England has said it will implement rules which will make it easier for mid-sized banks to compete in the mortgage market and simplify restrictions for smaller finance firms. It came as the central bank said it will push ahead with the majority of new capital rules for British banks at the start of 2027 but will delay part of the proposals. The Bank said its Prudential Regulation Authority (PRA) has pushed back the start of a new internal model approach for considering risk in the market by a year to January 1 2028. It said the latest proposals will allow time 'for greater clarity to emerge in other jurisdictions' amid uncertainty how President Trump will implement the global Basel rules in the US. The Basel 3 regime was first drawn up in the aftermath of the financial crisis to increase the amount of equity available to absorb stress from banks in an effort to avoid future state bailouts. The Bank of England said it will continue with plans to launch the majority of its modified Basel 3.1 rules at the start of 2027. It had previously delayed the start by a year in the face of uncertainty in the global financial markets. Basel 3.1 is set to promote 'banking resilience', according to the PRA, but comes as the Chancellor seeks reduce regulation in a bid to drive growth. On Tuesday, the Bank said it would also change restrictions it claims will drive growth opportunities among smaller and mid-sized banks. It will push forward with its 'strong and simple framework', which will reduce capital rules for smaller non-systemic banks and building societies, providing them with simpler restrictions than the largest UK banks. The PRA said it is also putting forward prospective plans to make it easier for mid-sized banks to compete in the mortgage market. It will publish a paper this summer with options to help-mid-sized banks grow by adjusting some barriers to securing permissions in providing residential mortgages. Sam Woods, chief executive of the PRA and deputy governor for prudential regulation at the Bank, said: 'Today's announcements will give certainty to firms of all sizes about the future capital framework, bring in a simpler regime for smaller banks, make it easier for mid-sized banks to scale up in the mortgage market, and allow an extra year for part of the implementation of new investment banking rules.' Dave Ramsden, deputy governor for markets and banking at the Bank, said: 'We have considered and reflected industry feedback in today's announcements. 'These changes are designed to foster growth and competition, recognising that smaller firms present lower risks to financial stability, whilst also maintaining size-appropriate resolvability capabilities.' The rule changes come ahead of the Chancellor's Mansion House speech to financial industry bosses, where she is expected to launch further cuts of industry red tape.
Yahoo
an hour ago
- Yahoo
Bitcoin Market Top Is 'Nowhere Near,' Say Analysts as Price Pauses at $120K
Bitcoin BTC cooled off during U.S. trading hours Monday after nearly topping $123,000 earlier in the session, but market top calls are premature, analysts said. BTC slipped below $120,000 late in the U.S. day, shedding most of its overnight advance, but holding on to a modest 0.6% gain over the past 24 hours. Ethereum's ether ETH slid back below $3,000, while dogecoin DOGE, Cardano's ADA ADA and Stellar's XLM XLM declined around 2%-3% on the day. Among majors, XRP XRP, SUI SUI and Uniswap's UNI UNI outperformed with 2.5%, 10% and 6% gains, respectively. Crypto-linked stocks also retraced some of their morning gains, with Strategy (MSTR) and Galaxy (GLXY) still higher 3%-4%, while Coinbase (COIN) gained 1.5% After BTC surged over 10% in less than a week and some altcoins advancing much more, prices may consolidate as some traders digest the move and realize profits. Still, this leg of the crypto rally is more likely in the early phases than towards the end, said Jeff Dorman, CIO of digital asset investment firm Arca. In a Monday investor note, he cited crypto analyst Will Clemente's observation about previous major tops like March 2024's spot bitcoin ETF-related peak and the Dec 2024/Jan 2025 frenzy surrounding the Trump election/inauguration, when open interest in altcoin derivatives flipped that of BTC "The current rally is nowhere near that," Dorman said. Volumes on both centralized and decentralized exchanges rose 23% week-over-week, but still aren't near to the levels during other broad-market rallies in the past, Dorman added. Looking at the big picture, bitcoin is being propelled higher by excessive sovereign debt and investors seeking refuge from monetary inflation, said Eric Demuth, CEO of Europe-based crypto exchange Bitpanda. He said BTC rising to €200,000 ($233,000), is "certainly a possibility," but the underlying adoption of the asset carries more importance than price targets. "What happens when Bitcoin becomes permanently embedded in the portfolios of major investors, in the reserves of sovereign states, and in the infrastructure of global banks?," he said. "Because that's exactly what's happening right now." In the next years, Dermuth expect bitcoin's market capitalization to gradually converge to gold's, currently sitting at over $22 trillion, nine times larger than BTC.
