A MarketWatch Guides analysis found that just one of Tennessee’s five most populous cities has homes considered affordable for households earning the median income.
The MarketWatch team analyzed data from Zillow, the U.S. Census Bureau and Freddie Mac to evaluate housing affordability based on the guideline that housing costs should not exceed 33% of a household’s income.
As of April 30, Zillow estimated a typical U.S. home is valued at $357,711. To keep housing costs within the 33% threshold, a household would need to earn $87,090 annually…