According to a recent study of 200 United States cities conducted by SmartAsset, a New York-based personal finance technology company offering data-based, actionable and easy to understand advice to consumers, Springfield is the sixth-ranked city where residents earning a median household income can buy the most home.
The average median household income for Springfield, $52,102, is estimated to buy 740.79 square feet at a price of $70.33 per square foot using one year’s income. Other Illinois cities that fell into the top 25 ranks include Rockford, Peoria and Naperville, ranked 18, 19 and 20, respectively.
Additionally, the SmartAsset study revealed that smaller cities tend to offer better deals on properties, big houses tend to price less in the South, and that buyers looking to get the most bang for their buck should consider purchasing homes located in the Midwest.
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