Dayton is the second most affordable metropolitan market for those in the middle class looking to buy a home, according to a new real estate report.
According to housing research, listings and trends web site Truliablog.com, 85 percent of homes for sale in the Dayton market are within reach for the middle class this month, October 2013.
The average size of homes affordable to the middle class for sale in the Dayton market this month is 1,360 square feet, according to the report.
And the percentage of homes that were for sale in the Dayton market that were affordable last year, in October 2012: 89 percent, at that time.
Dayton is ranked second to another Ohio city, Akron, where 86 percent of homes for sale were affordable to middle-class homebuyers, the Trulia report said.
In fact, for middle-class home buyers, the Buckeye State and the Midwest are evidently the places to be.
“In Akron, Ohio — the most affordable of the 100 largest metros — 86 percent of the homes for sale are within reach of the typical household,” wrote report author Jed Kolko, chief economist for Trulia. “Including Akron, the six most affordable metros are in Ohio (Dayton, Toledo, Cincinnati) and Indiana (Gary, Indianapolis).”
“In the most affordable housing markets, more than 80 percent of homes for sale today are within reach of the middle class,” Kolko also wrote. “Even though incomes in the Midwest and in the South are lower than on the coasts, housing costs are lower there even relative to income, making homeownership more affordable.”
The Cincinnati/Northern Kentucky market is ranked 6th on the list, with the Columbus market placing 9th.
The least affordable housing market in the U.S., according to the blog? San Francisco.
Thank you for reading the Dayton Daily News and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.
Thank you for supporting in-depth local journalism with your subscription to the Dayton Daily News. Get more news when you want it with email newsletters just for subscribers. Sign up here.