BALTIMORE (WJZ) — If you think purchasing a home is not in your future, there are 20 U.S. cities where it’s affordable.
Despite the prices of homes increasing, wages remaining the same and more loan debt, Baltimore ranks as a top city to purchase a home, according to Gobankingrates.com.
Cleveland and Memphis are also at the top of the list.
An average monthly mortgage is $1,000 or less in these cities.
On the downside, all listed are known to have low wages, which means the cost of living is somewhat still pricey due to the steady economic rates.
In order to find out if your income will match the mortgage, the website Finder.com shows if the home would be a good purchase.
Another tool is limiting finances, not spending more than 28 percent of gross income on housing during the month.