Here’s where the nation’s most (and least) affordable neighborhoods are

Low-priced Pittsburgh

Looking for an affordable home? According to new data from Trulia, Pittsburgh’s may just be your best bet. The city has the highest number of affordable neighborhoods in the entire country.

Buying in

According to Trulia’s data, a median income earner in Pittsburgh can afford every currently listed home in 22 percent of local ZIP codes. The city’s median home value sits at just $143,200.

Columbus, Ohio is also home to one of the nation’s most affordable housing markets. In 19 percent of the city’s ZIP codes, a median income earner can afford all properties currently on the market. St. Louis, Indianapolis and Kansas City, Missouri also have high shares of affordable neighborhoods.

According to Cheryl Young, a senior economist for Trulia, the nation’s most affordable ZIP codes are typically located away from the downtown area.

“Across all metros examined, regardless how pricey, we found that the most affordable communities tend to be located farther away from the city center and are comprised of older homes,” Young said.

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Where housing’s out of reach

The West Coast dominated the list of least affordable cities, with California’s San Francisco, San Jose, Los Angeles and San Diego all making the grade. In San Francisco, 23 percent of local neighborhoods are 100-percent out of reach for a median income earner. In San Jose, 19 percent are.

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New York was the only non-West Coast city to make the list. Nearly 16 percent of ZIP codes in the Big Apple are 100-percent out of reach for the average resident.

“A location closer to the center of the city tends to fetch a premium since that often means lower commuting costs (in both time and money), and land values tend to be higher closer to a given metro’s center of gravity,” Young said. “Likewise, ZIP codes with newer homes also tend to be less affordable, especially those in which the bulk of local homes were built in the last two decades.”

Get today’s mortgage rates

Are you looking to buy a home in one of the nation’s more affordable markets? Do you want another way to cut costs? Shopping around for your mortgage rate can help. Start shopping today to see what mortgage rates you qualify for.