The average US home costs more than half a million dollars today, but house prices vary wildly from neighborhood to neighborhood.
To determine which ZIP codes are most and least affordable for homebuyers across each state and major cities, American Home Shield used Zillow and US Census data to rank every US ZIP code with at least 10,000 residents based on their home price-to-household income ratios.
Key Findings:
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The country's most affordable ZIP code to buy a property in is 48505 in Flint, Michigan, where the median house price is just 0.95 times the median yearly income of a local worker. No doubt, the years-long water crisis plays a large part in the low cost.
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The least affordable ZIP code overall is 90210 in Beverly Hills, California. Homes in this area will cost a local worker 34.82 times their annual salary, on average.
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New York City's most and least affordable ZIP codes are both in the Bronx: 10462 and 10454, respectively.
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The most affordable Chicago ZIP code for homebuyers is 60661 (Near West Side), while the least affordable is 60629 (Logan Square).
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Philadelphia's home price-to-household income ratio is lowest in 19133 (Fairhill) and highest in 77024 (parts of Ludlow).
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Via American Home Shield.
