The 6 cities where homebuyers have more power in

Higher mortgage rates and climbing asking prices have eroded Americans’ buying power in most large cities over the last few years, but a handful of metros continue to stand out for offering homes that families can actually afford.

Buying power refers to the amount of money a homebuyer can spend on the purchase of a home with mortgage funds, which are based on the buyer’s income and current interest rates.

This summer, homebuyers have been forced to contend with rates that have risen faster than wages since the pre-pandemic era, arriving at the high 6% range, says Realtor.com® senior economic research analyst Hannah Jones.

Meanwhile, home prices have continued to surge, while housing inventory has shrunk compared with 2019, leaving budget buyers with fewer affordable choices , acco