El Paso One of the Most Affordable Cities For Home Buyers

Did you miss this story from KTSM.com?

The housing market has been booming this year, but the price of real estate varies throughout the country. According to research, El Paso is the #7 most affordable large city to buy a home.

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Research shows the price-to-income multiple in El Paso is 3.2, while the average price-to-income ratio was 5.0 nationwide.

The weighted average home price in El Paso is $155,987 and the median household income is $48,542.

The information is a little dated, and skips over a lot of relevant factors, like how much we pay for utilities and property taxes, and how hard it is to get a well-paying private sector job in El Paso, but there is still some worthwhile information to be gleaned from this bevnap analysis of house prices.

Other cities mentioned include Flint, Michigan; Gary, Indiana; and Macon, Georgia. If the cities on the list were countries, former President Trump would have discouraged people immigrating from most of them. Among large cities on the list, Detroit, Memphis, and Oklahoma City all beat El Paso on the affordability meter. You can get a real professional-grade job in Detroit, Memphis, and Oklahoma City. In El Paso, not so much.

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