Buyer's market: The top cities with an increase in affordable housing
Real estate agent Lauren Newman, right, prepares to show Steve Martin a home for sale in Mount Pleasant, S.C., just over the bridge from historic Charleston (AP Photo/Chuck Burton, File)
A new study showed that while middle-income home prices are on the rise, more Americans in metropolitan areas have the purchasing power to buy a home currently on the market.
Reatlor.com reported 74 of 100 metro areas became more affordable in April, an increase from the previous month when only 44 saw improved affordability compared to last year.
The study compares the number of listings available that are considered affordable to people based on their median income.
Below are the top cities that saw the biggest improvements in the availability of affordable homes, showing a rise in income and real estate listed on the market, along with a decrease in home prices in their area, according to Realtor.com.
10. CHARLOTTE, NORTH CAROLINA
Median Home Price: $329,450
A home listed on the market in Charlotte, N.C. within the median home price of $329,450 (Realtor.com)
9. DALLAS-FORT WORTH, TEXAS
Median Home Price: $350,000
A home listed in Dallas, TX within the median home price of $350,000. (Realtor.com)
8. AUSTIN, TEXAS
Median Home Price: $369,995
A home listed on the market in Austin, TX within the median home price of $369,995. (Realtor.com)
7. CAPE CORAL-FORT MYERS, FLORIDA
Median Home Price: $299,900
A home listed on the market in Fort Myers, FL within the median home price of $299,900. (Realtor.com)
6. PORTLAND, OREGON
Median Home Price: $474,975
A home listed on the market in Portland, Ore. within the median home price of $474,975. (Realtor.com)
5. ATLANTA, GEORGIA
Median Home Price: $335,000
A home listed on the market in Sandy Springs, Ga. within the median home price of $335,000. (Realtor.com)
4. LAKELAND-WINTER HAVEN, FLORIDA
Median Home Price: $231,500
A home listed on the market in Winter Haven, Fla. within the median home price of $231,500. (Realtor.com)
3. SAN FRANCISCO-OAKLAND, CALIFORNIA
Median Home Price: $954,500
A home listed on the market in San Francisco, Calif. within the median home price of $954,500. (Realtor.com)
2. DES MOINES, CALIFORNIA
Median Home Price: $288,000
A home listed on the market in Des Moines, Iowa within the median home price of $288,000. (Realtor.com)
1. SAN JOSE-SUNNYVALE, CALIFORNIA
Median Home Price: $1,167,444
A home listed on the market in San Jose, Calif. within the median home price of $1,167,444. (Realtor.com)
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