Real incomes high in Houston area

A report says Houston residents have a healthy real incomeLocal residents appear well equipped to purchase Houston real estate given the findings of a recent analysis comparing median incomes with the cost of living.U.S. News and World Report made that comparison to determine the metropolitan areas with the highest real incomes. Using the Cost of Living Index as measured by the Council for Community Economic Research, the source provided an adjusted median income for those regions, determining the cities in which a person's dollar stretches the farthest.The Houston-Sugar Land-Baytown metropolitan area has a median income of $54,146 but registers a COLI of 89.3, well below the national average of 100. That means a worker making the median income in Houston actually has an adjusted income of $60,634, good for fourth nationwide. Des Moines, Iowa, topped the list, followed by Washington, D.C., and Worcester, Massachusetts.Comparatively, the McAllen, Texas, metro area posted the nation's lowest real income. A person earning the median income of $30,460 actually makes an adjusted income of $34,931, the lowest total nationwide.Considering the healthy median income and the low prices of local homes, many more residents may be able to afford Houston real estate. The Houston Association of Realtors reports the median home price in the region was $148,800 in April. ?Courtesy of 2M Realty News

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