8 Best Large Metros for Home Ownership

DAILY REAL ESTATE NEWS | FRIDAY, JANUARY 24, 2014

Financial site NerdWallet recently analyzed the top 100 most populated metro areas to determine which areas are the most favorable to home buyers. They factored in the number of homes available, the median household income and monthly home owner costs, and population growth to find out what areas have strong economies.

The eight large metros that emerged at the top of their list were:

1. Raleigh-Cary, N.C.
Median selected monthly home owner costs: $1,482
Home owner costs as percentage of household income: 29.5%

2. Charlotte-Gastonia-Rock Hill, N.C.-S.C.
Median selected monthly home owner costs: $1,394
Home owner costs as percentage of household income: 32%

3. Salt Lake City
Median selected monthly home owner costs: $1,527
Home owner costs as percentage of household income: 30.7%

4. Indianapolis-Carmel
Median selected monthly home owner costs: $1,248
Home owner costs as percentage of household income: 29%

5. Nashville-Davidson-Murfreesboro-Franklin, Tenn.
Median selected monthly home owner costs: $1,367
Home owner costs as percentage of household income: 32.1%

6. San Antonio-New Braunfels, Texas
Median selected monthly home owner costs: $1,337
Home owner costs as percentage of household income: 31.4%

7. Jacksonville, Fla.
Median selected monthly home owner costs: $1,472
Home owner costs as percentage of household income: 34.7%

8. Louisville/Jefferson County, Ky.-Ind.
Median selected monthly home owner costs: $1,206
Home owner costs as percentage of household income: 30.2%

Source: NerdWallet