From Yahoo Finance: 2025-05-27 12:53:00

Owning a home is a key part of the American Dream, but rising prices and high interest rates make it more expensive. A reduced inventory of houses adds to the challenge for prospective buyers. However, a study by Rocket Moving highlights the top ten cities where renters can afford to buy a home based on factors like average home price and mortgage approval rate.

In these cities, the average home price ranges from $168,200 to $346,700, with median down payments between $6,600 and $38,500. Homeownership rates vary from 65.7% to 77%, while mortgage approval rates range from 53.4% to 74%. Composite scores based on various factors indicate the affordability of buying a house in these cities. Transitioning from renting to buying a house is possible with proper planning.



Read more at Yahoo Finance: 10 Cities Where Renters Can Finally Afford To Buy a Home in 2025