From staff reports
The good news? A person with a high school diploma could (in theory) afford to buy a home in North Texas. The bad news? It will probably take seven years (at least) to save the down payment.
A new Zillow research report matched median mortgage payments in the country’s 50 largest metro areas for the first quarter of this year to the most recent American Community Survey incomes for each educational level, adjusting the latter’s 2017 figures for 2019’s inflation.
Somewhat surprisingly, 36 of those 50 fleshed out to be theoretically affordable to households earning the income associated with a high school diploma-level of education. Dallas, Houston, San Antonio, and Austin were among the 36 cities named.
In fact, in Oklahoma City, a potential homebuyer wouldn’t even need a high school diploma to afford the median-valued home. (more…)