New York State has a lot to offer home buyers, with Rochester and Buffalo ranking as the U.S. metros with the lowest home prices. The median value of an owner-occupied home is $138,900 in Rochester and $135,200 in Buffalo.
The U.S. Census recently ranked 53 cities with populations of more than 1 million on housing affordability. Markets are ranked by their ratios of median home value to median household income. The top 10 most affordable housing markets are:
1. Rochester, N.Y.
- Median home value: $138,900
- Median household income: $53,667
2. Buffalo-Cheektowaga-Niagara Falls, N.Y.
- Median home value: $135,200
- Median household income: $51,772
3. Pittsburgh
- Median home value: $143,200
- Median household income: $54,080
4. Kansas City, Mo.-Kan.
- Median home value: $164,700
- Median household income: $60,502
5. Indianapolis-Carmel-Anderson, Ind.
- Median home value: $148,000
- Median household income: $54,322
6. Grand Rapids-Wyoming, Mich.
- Median home value: $151,300
- Median household income: $55,459
7. Houston-The Woodlands-Sugar Land, Texas
- Median home value: $168,300
- Median household income: $61,465
8. San Antonio-New Braunfels, Texas
- Median home value: $151,400
- Median household income: $55,083
9. Dallas-Fort Worth-Arlington, Texas
- Median home value: $172,500
- Median household income: $61,644
10. Oklahoma City
- Median home value: $146,100
- Median household income: $52,221
Source: “Rochester, Buffalo Sweep Top Honors in U.S. Measure of Home Affordability,” Buffalo Business First (June 19, 2017)
