New report ranks Austin among least affordable cities for average buyer By Arden Ward Nov 23, 2020, 3:23 pm A new real estate report reveals how much home the average household can afford in the country's 50 largest cities, and Austin, unsurprisingly, falls to the bottom of the list. The Capital City ranks No. 36 out of 50 on SmartAsset's 2020 edition of "Where the average household can afford the most and least home." The financial website crunched the numbers by looking at the median household income in each city and the average non-mortgage debt of each state to estimate how much home the average household could afford. That figure was then compared to the area's median home value to determine affordability. With a local median household income of $75,413 and Texas' average non-mortgage debt of $27,193, SmartAsset reports that the average Austin household can afford a home priced at $317,000. However, the median home value in the area, acco...
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