Excerpt from original article on Houston Culture Map:
A new study offers a more nuanced picture of housing affordability in Houston — and good news for a large portion of the middle class.
Houston is America’s most affordable housing market for lower -and middle- middle class families, according to LendingTree, which analyzed housing affordability in the nation’s 50 largest metros for its study.
In Houston, lower-middle class families bring in $41,948 and can afford a mortgage payment of up to $979 a month. That’s a surplus of $296 a month on the median-priced home. Middle-middle class families in the Houston area see even more savings. Those households bring in $62,922 a year, which means they can afford a mortgage payment up to $1,468 a month, a surplus of $785.
Contact a mortgage lender and apply for a mortgage pre-approval to get a sense of how much you can comfortably pay in monthly mortgage payments.
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