5 Pa. Counties Named to List of Most Affordable Places in the U.S.

Five counties in Pennsylvania were named to the top 10 list of U.S. counties where the lowest annual wages are required to afford a typical home.

According to ATTOM Data, Schuylkill County, Fayette County, Cambria County, Blair County and Mercer County are some of the most affordable places to buy a home in the U.S.

With a national average wage of $64,857, homeownership costs are taking up nearly 25% of that, according to the report, as the national median home price rose to $315,500. The report found that homeownership is affordable in 53% of counties, but unaffordable in 47%, that is it takes up more than 28% of a consumer’s wage, which is typically where lenders draw the line at.

However, for areas in Pennsylvania, residents could have lower-paying jobs and still be able to afford homeownership. In Schuylkill County, the annual income needed to buy a median-priced home is $15,834, as the median home price is $80,000. In Fayette County, consumers need to make $16,497 to be able to afford the median home price of $94,000. Cambria County potential homebuyers would need to make $16,895 to buy a home priced at the median of $86,000.

Blair County buyers would need to make $20,711 to be able to afford the median home price of $135,000 and in Mercer County, you would need to make $22,153 to buy a home priced in the median range at $110,200.

All of the statistics include a 20% down payment and homeownership expenses coming in under 28% of the total income made.