Just four years ago you could buy a home with that income in 36 states, illustrating how rising home prices have tipped the balance of home ownership toward the wealthiest. Half of the country's households earn an average of $74,580 or less.
These 14 states are some of the few places where middle-income people can afford a typical home. The median home in these states is $300,000 or less, significantly less than the national median price of $402,343. Although some indicators can be found in these 14 states, some indicators must be taken into account, such as higher poverty rates and fewer well-paying jobs compared to the rest of the U.S. Many of those states are among the most rural in the United States, and incomes in those areas tend to be lower than those in big cities. The average cost of a home in each state is based on a 20% down payment, with no homeowner's association (HOA) fees or mortgage insurance, and with a 30-year fixed mortgage interest rate.