Across the country, the homeownership rate has sunk to a level not seen since the 1960s. For many, especially millennials and other age groups, too, the biggest obstacle to buying a home is a perceived lack of affordability. In 2013, Fannie Mae found that 58% of renters earning from $25,000 to $50,000 thought getting a mortgage would be “difficult.”

While home prices have increased in recent years, many metropolitan areas still have a supply of housing that’s affordable for most Americans. Current renters may be surprised to learn that homeownership is a goal within reach, even for those making $50,000, which is below the national median household income of about $59,000 for 25- to 44-year-olds, according to data from the U.S. Census Bureau.

Home affordability calculator

Using NerdWallet’s home affordability calculator, we examined 15 metropolitan areas across the U.S. where the suggested home price for a household making $50,000 is equal to or higher than the median home price.

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Below, in alphabetical order, the list shows 15 metro areas where you could afford a home with a $50,000 income. Each metro area also includes the suggested home price and a picture of a local listing at Zillow.com.

Abilene, Texas

Affordable home price: $242,185 

4925 Brantley Circle, Abilene, TX 79606

Amarillo, Texas

Affordable home price: $233,846

6829 Glenoak Lane, Amarillo, TX 79109 

Battle Creek, Michigan

Affordable home price: $299,787

 37 Sunnyside Drive, Battle Creek, MI 49015

Bloomington, Illinois

Affordable home price: $270,019

 1703 Whitmer Court, Bloomington, IL 61704

Bloomsburg, Pennsylvania

Affordable home price: $266,558

299 Oak Lane, Bloomsburg, PA 17815 

Columbia, South Carolina

Affordable home price: $267,332

3214 Devereaux Road, Columbia, SC 29205 

Dubuque, Iowa

Affordable home price: $258,971

 544 Hilltop Court, Durango, IA 52039

Elmira, New York

Affordable home price: $258,563

48 Liberty Way, Horseheads, NY 14845 

Fayetteville, North Carolina

Affordable home price: $266,924

Sanborne Plan, Liberty Hill, Fayetteville, NC 28311 

Indianapolis, Indiana

Affordable home price: $274,318

 2572 Wayward Wind Drive, Indianapolis, IN 46239

Jackson, Mississippi

Affordable home price: $275,629

912 Newland St., Jackson, MS 39211 

Johnstown, Pennsylvania

Affordable home price: $294,027

52 Rose St.,  Johnstown, PA 15905

Oshkosh, Wisconsin

Affordable home price: $246,935

 2371 Katy Court, Oshkosh, WI 54904

St. Cloud, Minnesota

Affordable home price: $263,163

 3026 15th Ave. S., St. Cloud, MN 56301

Wausau, Wisconsin

Affordable home price: $254,952

 2607 Fern Lane, Wausau, WI 54401

Methodology

To determine the affordable home price for a household with an income of $50,000 a year, we used location-based data from NerdWallet’s home affordability calculator.

The home price assumes a buyer can make a 20% down payment. The calculations are based on preset expenditure values, which aren’t necessarily based on median figures.

Individuals looking to buy a home should adjust the calculator to their personal financial circumstances. Unemployment and crime risk were taken into account when selecting the metro areas.

Image of Texas via iStock.