Next, it was calculated that homeowners should spend no more than 28% of annual income on housing, which amounts to $16,800 of annual housing costs on a $60,000 income. If homeowners had a 30-year mortgage with a 5% downpayment and 5% fixed-interest rate, and 0.5% in private mortgage insurance then they could comfortably afford a home priced up to $257,400.
Lastly, listings for the month of September were analyzed to find the greatest share of available housing that was at or below $257,400 in the United States' 50 largest metropolitan areas.
Though Pittsburgh has grown and changed, the home prices have remained low. Many neighborhoods are seeing a resurgence in homebuyers' interest and are receiving investors' attention.
To find out more and learn about the other nine cities that made the list, check out the full realtor.com article here.