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Atlanta Housing Second Most Affordable Among Major Cities

Looking to buy in Atlanta? You're looking in one of the most affordable markets according to Interest.com's first Home Affordability Study. While home prices and mortgages alone aren't necessarily deal-breakers, other costs such as property taxes and insurance make home ownership less affordable in some cities than in others. Instead of looking at costs alone, the Interest.com crew looked at a combination of median income, median home price, property taxes, homeowner's insurance, and other costs of home ownership.

As one of only three cities to receive an A grade, Atlanta ranked second in Interest.com's affordability grade, indicating that a household making the median income could afford a median-priced home. But Atlanta stands out in other ways, with a median sales price well below the the average of the 25 largest cities and lower ownership costs than many of the other cities. The study also gave Atlanta a paycheck power rating of 40%, an indicator of how much the median income exceeds the income required for a median priced home.

Rounding out the top three in the study are Detroit and Minneapolis-St. Paul, with an A and A-, respectively.
· Homes are truly affordable in only about half of cities [Interest.com]
Sujin Headrick