NASHVILLE, Tenn. (WTVF) — Americans can't afford a home in more than 70 percent of the country, according to a new report.
In a new report by ATTOM Data Solutions, 335 of 473 U.S. counties listed median home prices in the first quarter of 2019 above what average wage earners could afford.
The report considered median home prices in Davidson, Montgomery, Rutherford, Sumner, Williamson and Wilson Counties.
Average wage earners in Middle Tennessee would have to spend about half of their paychecks to live in Williamson and Wilson Counties. For people making the same wages, Davidson and Montgomery Counties were most affordable at about 32-percent and 31-percent respectively.
In the report, affordability is based on the percentage of average wages needed to make monthly house payments on a median-priced home.
ATTOM said Brooklyn and Manhattan are the most unaffordable places to live in the country. Cities where homes are most affordable are Chicago, Cleveland, Detroit, Houston and Philadelphia.
