Cleveland is the second-most affordable metro area in America for homebuyers

Story excerpt provided by Crain’s Cleveland Business.

Written by Scott Suttell.

Cleveland is the second-most affordable metro area in America for those hoping to buy a home, according to data released this week by the mortgage-data company HSH.com.

The company analyzed housing affordability in 27 big cities nationwide.

MarketWatch.com says the HSH.com analysis looked at the cost — including principal, interest, taxes and insurance payments — of buying a median-priced home using a 30-year fixed-rate loan; the loan rates were based on people with credit scores of 740 or higher in each area and who put down 20%.

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Originally published September 28, 2016.