Only six major U.S. cities have average home prices that a household with the local median income could afford.
An April report from Clever Real Estate compared the income needed to purchase a home in major U.S. cities to the actual income of a typical household.
The report considered a home affordable for a particular buyer if it met the popular 28/36 rule, which recommends buyers spend a maximum of 28% of their monthly income on housing, plus another 8% on paying other debts such as credit card or Car debt bills.
Even with a 20% down payment, the average home buyer paying the local average wage would not be able to afford a home priced at average market rate in 44 out of 50 major cities.
Home mortgage rates are also currently high, which could prevent sellers from listing homes and buyers from purchasing them.
Related: The 'Silver Tsunami' Meets 'Golden Handcuffs' as Previously Low Mortgage Rates Lure Homeowners – Whether They Like It or Not
Here are the six cities with homes that average earners can afford.
1. Pittsburgh, Pennsylvania
Pittsburg, Pennsylvania. Photo credit: Getty Images
Actual income: $70,607
Income needed to afford the median home: $59,919
Local median home sales price: $199,573
2. Cleveland, Ohio
Actual income: $65,198
Income needed to afford the average home: $56,378
Local median home sales price: $182,652
3. St. Louis, Missouri
St Louis, Missouri. Photo credit: Getty Images
Actual income: $74,531
Income required to afford the average home: $66,743
Local median home sales price: $225,674
4. Memphis, Tennessee
Actual income: $64,008
Income needed to afford the average home: $61,659
Local median home sale price: $213,929
5. Indianapolis, Indiana
Actual income: $75,824
Income needed to afford the average home: $73,398
Local median home sales price: $257,584
6.Birmingham, Ala
Birmingham, Ala. Photo credit: Getty Images
Actual income: $67,242
Income needed to afford the average home: $65,216
Local median home sales price: $235,212