Sky-High Prices Got You Down?

Here Are the Top Middle-Class Housing Meccas. And then there's perhaps the biggest pain point of all: record-high housing costs in many parts of the country. So much for the middle-class miracle.

But wait—there are still places where the middle class reigns supreme, at least when it comes to housing. And the data team set out to find them. We figured out which metros have the highest share of homes on the market that are priced just right for that area's middle-income earners—and, at the other end of the spectrum, the markets that have the least housing available for this grand swatch of buyers, whether it's priced substantially above or below their needs.

“These people don’t have steady, good-paying jobs, and they can’t get financing at that price—it can be very hard for them to buy a house,' adds Peter Temin, an economics professor at the Massachusetts Institute of Technology and author of the 2017 book titled 'The Vanishing Middle Class: Prejudice and Power in a Dual Economy.'

'That spells trouble for them later in life: Owning a home is one way to build wealth,' Temin says. 'So they don't have a good way to save.They're kind of trapped.”

Now let’s channel our best Goldilocks and head off into the woods to find America's true middle-class meccas—places with homes that are not too swanky, not too dilapidated, but just right.

Best metros for the middle class Downtown Provo, Utah.

1. Provo, UT
Median household income*: $72,700
Middle-class home price range*: $211,700 to $553,100
Percentage of middle-class homes on the market*: 76%

The startup you founded with your tech buddies in Seattle or Silicon Valley might make it big and rake in the cash one day. But in the meantime, you're going to blow through quite a bit of cash on housing. That's why affordably priced Provo, a 45-minute drive from way-pricier Salt Lake City, has become a thriving tech hub. And all of that middle-class housing makes it an appealing destination for other companies looking to open up shop as well.
Ancestry is based there, as is Brigham Young University. Provo also has one of the highest percentages of computer programmers in the country.

Provo has lots of suburban, cookie-cutter homes, with more going up all over town, They tend to be priced between $250,000 to $400,000. 'They’re just going like hotcakes.” 

Vineyard is one of the hottest middle-class suburbs in the area. About 15 minutes outside of Provo and the banks of the Utah Lake, it's filled with family-friendly, three- and four-bedroom homes outfitted with two-car garages.

And it's not only in Vineyard where buyers can score quite a bit of space. More than 70% of the Provo-area homes listed on realtor.com boast 3,000 square feet or more of space—the highest rate in the country among the largest markets.

Mortgage Rates Ease Slightly This Week:

If you’re interested on a wealth of information to help you get started visit Precision Realty & Assoc. LLC or if you prefer a more personal touch, reach out to a us, CALL 801-809-9866 today. The decision to buy or sell is a personal one that depends on your financial situation, future plans and lifestyle.

Source Realtor.com