A new report has found that Cleveland is the most affordable metropolitan area in the nation to own a home.
According to numbers released this week by real estate research company HSH.com, the annual salary required to afford a median-priced home in Cleveland is $29,788.
The report — which ranked 27 metro areas — considers the salary it would take to afford the principal, interest, taxes and insurance on a home.
HSN.com found that the median home price in Cleveland was $102,100, a 1.1 percent increase over last year. The median monthly payment was $695. The median mortgage rate was 4.50 percent.
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