It’s a common financial maxim that homeowners shouldn’t spend more than 30% of their gross monthly income on housing. Using this criteria, these 11 states are the most affordable. The percentage is the share of median income needed to afford a median-priced home.
- Iowa – 25.40%
- Illinois – 26.00%
- Ohio – 27.00%
- Kansas – 27.00%
- Indiana – 28.30%
- Michigan – 28.30%
- Pennsylvania – 28.50%
- West Virginia – 29.40%
- Missouri – 29.50%
- Maryland – 29.80%
- Minnesota – 29.90%