St. Louis: Best Metro Area for Homeowners
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ST. LOUIS (KMOX) – Want an affordable home? A new study finds St. Louis is one of the three best metro areas in the nation for home ownership.
The mortgage information site HSH.com looked at mortgage rates and median home prices in 25 of the country’s largest metro areas to determine how much salary you need to earn to cover the principal and interest payments on the average home. San Francisco was the most expensive city by far where $115,000 a year will cover principal and interest. St. Louis, Cincinnati and Cleveland were the three most affordable cities needing just a little more than $22,000 a year which is almost $100,000 less than San Francisco.