Memphis, Nashville no longer affordable for single men or women per report – WZTV

NASHVILLE, Tenn.–Property Shark, an online real estate search engine, reports Memphis and Nashville are no longer affordable for single men or women.

The company analyzed data from the nation’s 51 largest cities and median incomes for the sexes based on 2020 U.S. Census Bureau statistics.

Whereas the two cities were affordable for single men 5 years ago, that is no longer the case according to the study. The report states “Houston; Memphis; Milwaukee; and Nashville became unaffordable for men too in the last five years, but price increases affected women even more. Nashville, in particular, has surged to price out women, now requiring 47% of the median local female income to buy a starter home.”

According to Property Shark, single women would have to spend 49% of the median national income to cover a monthly payment for a starter home compared to 32% of men. This means women can only afford to purchase a home on their own in 17 of the nation’s largest 51 cities while men can…

Read Full Story: https://fox17.com/news/local/memphis-nashville-no-longer-affordable-for-single-men-or-women-per-report-tennessee-real-estate-economy-wages-jobs

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source: https://news.oneseocompany.com/2022/04/14/memphis-nashville-no-longer-affordable-for-single-men-or-women-per-report-wztv_2022041417952.html

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