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The Least Affordable Counties
A county’s affordability depends not only on home prices but how much people make there. In 13 of the 379 counties ATTOM analyzed for its report, average wage earners would need to spend more than 80% of their income to buy a median-priced home. In five of the counties, average wage earners would need more than 100% of their income.
Kings County, New York, better known as Brooklyn, topped the list. An average wage earner there would need 121.4% of their income to buy a median-priced income.
Remember, your credit score will play a large role in whether you get a mortgage — and you might need a high one in these counties so the home is a bit more affordable. You can view two of your scores for free, updated every 14 days, on Credit.com. And here are a bunch of other ways to get ready for buying a home.
Click through our slideshow see all the least affordable counties to buy a home. A note on the data: The percentages are based on the amount needed to make monthly payments on a median-priced home with a 30-year fixed mortgage and a 3% down payment, including property taxes, home insurance and mortgage insurance (full explainer on confusing mortgage terms here).
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