Less than $30,000 income needed to buy median house in St. Louis

saint-louis-real-estate-dennis-normanSt. Louis home prices in the 2nd quarter were at $134,700 for a median priced home according to the latest data from the National Association of REALTORS® making St. Louis 46th in terms of the lowest home prices of the 161 metro areas covered by the NAR report.  Another NAR report shows the typical income needed to buy a median priced home and, based upon St. Louis’ median home price, the report shows that, with a down payment of just 5 percent, an income of only about $29,601 per year would be necessary to buy a typical home in St. LouisFor comparison, the metro area in the country with the lowest income necessary to buy a home is Detroit where an income of $13,229 will buy you the typical house and, at the opposite end of the spectrum, is San Joes-Sunnyvale-Santa Clara, CA where you need $145,038 in income to buy a median priced home.

Want to see the median price ($134,700) gets you in St. Louis?  Click here to find out.

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