It's not uncommon to get married and buy a house all in the same year. These two big life changes can really add up, so Redfin set out to find which cities were the most affordable for couples to get hitched and buy a new house in. Pittsburgh ranked third on the last, just below Detroit MI, and Cleveland, OH.
To go about their study, Redfin calculated downpayment amounts in 25 popular metros in the U.S., assuming a downpayment of 20% on the median list price as of April 2019. They then added that data to wedding costs from WeddingWire, which reported that the average cost of a wedding, engagement ring, and honeymoon to be just under $39,000 in 2018.
Here's a look at the data for the top five most affordable metros for getting married and buying a house in the same year.
Here's a look at the data for the top five most affordable metros for getting married and buying a house in the same year.
Image Source: Redfin
According to WeddingWire, average wedding cost in Pittsburgh is $27,000, which is more than $10,000 below the nation average of $38,700. In Pittsburgh, the median list price was reported to be just under $190,000. The average median list price for the metros studied was $308,000.
A 20% downpayment, based off of a $190,000 list price, would be $37,980 in Pittsburgh, whereas the average downpayment for the metros studied was close to $80,000. The average wedding and downpayment on a home would cost a Pittsburgh couple $64,980, which is almost $50,000 below the national average.
The five most expensive metros in the study were found to be Boston, MA, San Diego, CA, New York, NY, Lost Angeles, CA, and San Francisco, CA coming in at the most expensive, with an average wedding and downpayment costing a couple $325,000, which is over $215,000 above the national average and $260,020 above Pittsburgh's average wedding and downpayment cost.
To learn more about the most and least affordable metros to buy a home and get married in the same year, check out the full article on Redfin's website here.
A 20% downpayment, based off of a $190,000 list price, would be $37,980 in Pittsburgh, whereas the average downpayment for the metros studied was close to $80,000. The average wedding and downpayment on a home would cost a Pittsburgh couple $64,980, which is almost $50,000 below the national average.
The five most expensive metros in the study were found to be Boston, MA, San Diego, CA, New York, NY, Lost Angeles, CA, and San Francisco, CA coming in at the most expensive, with an average wedding and downpayment costing a couple $325,000, which is over $215,000 above the national average and $260,020 above Pittsburgh's average wedding and downpayment cost.
To learn more about the most and least affordable metros to buy a home and get married in the same year, check out the full article on Redfin's website here.
