This is the ‘most affordable’ ZIP code to buy property in Florida, study says
TAMPA, Fla. (WFLA) — If you are in the market to buy a house but want to save some money, you may want to check out the results of a recent study that found the “most affordable” ZIP codes to buy property in every state.
American Shield Home said it determined which ZIP codes were the most affordable by using the U.S. Census databank to find the population of every ZIP code in the U.S. with more than 10,000 residents and by analyzing Zillow home prices.
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In Florida, the most affordable ZIP code to buy property is in the Tampa Bay area.
The median home price in St. Petersburg’s 33716 ZIP code is 3.3 times the median household income, according to American Shield Home.
The least affordable ZIP code to buy property in Florida is Key Largo, where the median home price is 16.4 times the median household income.
For those looking for the cheapest place in the U.S. to buy a home, the most affordable ZIP codes are in Michigan, Mississippi and Louisiana.
Flint, Michigan’s 48505 ZIP code was the most affordable, where the median home price of $27,703 is less than the $29,061 median household income. It is also the only ZIP code with an affordability ratio below 1.0, the study said.
The least affordable ZIP code in America is Beverly Hills, California’s 90210, where the median home price is 34.82 times the median household income.
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