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12 Markets Where Owning a Home Is a No-Brainer

While home prices nationally are on the rise, there are many housing markets where owning a home is more affordable than renting. But in some areas, the right combination of wages, home prices and rental market conditions makes owning a home a virtual no-brainer. And when the cost of owning a home is less of a financial strain, it's easier for lenders to qualify borrowers for mortgages. Here's a look at the top markets with the largest affordability spread between owning and renting a home. The data, from RealtyTrac and ATTOM Data Solutions, shows the metropolitan statistical areas with the biggest difference between the percent of average wages needed to own versus rent. It is ranked by the most affordable county of each MSA.
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No. 12: Muscogee, Ga.</br> MSA: Columbus, GA-AL

4Q15 Average Annual Wages: $44,720 2Q16 Median Home Price: $115,000 Affordability Spread: 11.67%
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No. 11: Marion, Fla.</br> MSA: Ocala, FL

4Q15 Average Annual Wages: $38,948 2Q16 Median Home Price: $113,000 Affordability Spread: 11.95%
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No. 10: Gaston, N.C.</br> MSA: Charlotte-Concord-Gastonia, NC-SC

4Q15 Average Annual Wages: $41,392 2Q16 Median Home Price: $130,000 Affordability Spread: 12.05%
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No. 9: Richmond, Ga.</br> MSA: Augusta-Richmond County, GA-SC

4Q15 Average Annual Wages: $45,500 2Q16 Median Home Price: $87,450 Affordability Spread: 12.46%
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No. 8: Yuma, Ariz.</br> MSA: Yuma, AZ

4Q15 Average Annual Wages: $36,816 2Q16 Median Home Price: $141,500 Affordability Spread: 12.55%
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No. 7: Pinal, Ariz.</br> MSA: Phoenix-Mesa-Scottsdale, AZ

4Q15 Average Annual Wages: $41,704 2Q16 Median Home Price: $165,000 Affordability Spread: 12.85%
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No. 6: Muskegon, Mich.</br> MSA: Muskegon, MI

4Q15 Average Annual Wages: $44,460 2Q16 Median Home Price: $89,000 Affordability Spread: 13.57%
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No. 5: Bibb, Ga.</br> MSA: Macon, GA

4Q15 Average Annual Wages: $43,576 2Q16 Median Home Price: $78,250 Affordability Spread: 14.95%
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No. 4: Baltimore City, Md.</br> MSA: Baltimore-Columbia-Towson, MD

4Q15 Average Annual Wages: $67,392 2Q16 Median Home Price: $99,000 Affordability Spread: 15.89%
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No. 3: Spotsylvania, Va.</br> MSA: Washington-Arlington-Alexandria, DC-VA-MD-WV

4Q15 Average Annual Wages: $41,652 2Q16 Median Home Price: $239,000 Affordability Spread: 19.70%
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No. 2: Hernando, Fla.</br> MSA: Tampa-St. Petersburg-Clearwater, FL

4Q15 Average Annual Wages: $36,140 2Q16 Median Home Price: $124,950 Affordability Spread: 20.13%
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No. 1: Clayton, Ga.</br>

4Q15 Average Annual Wages: $49,764 2Q16 Median Home Price: $68,000 Affordability Spread: 21.55%
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