Houses are more affordable in some places than others. Does your metro area rank near the top or bottom?
Lenders say a home is affordable when your house payment plus other debt payments add up to 36 percent or less of household income. Interest.com, a Bankrate-owned company, gathered data about housing costs and other debt in the nation’s 25 largest metropolitan areas. In the five least affordable cities, including San Francisco, New York, San Diego, Miami and Los Angeles, total debt was well above 36 percent of median income.