Affordability is critical for solo buyers in the current housing market. Recent statistics show 62% of homebuyers are married couples, while only 20% are single women and 8% single men. Ohio is ranked 7th for affordability for solo buyers, with a median home price of $289,900 and a typical mortgage payment of $1,513. A solo buyer needs around $84,781 annually to live comfortably. These buyers prefer smaller homes that require minimal repairs and are financially responsible.
In Ohio, the median home price clocks in at $289,900, among the lowest in the nation. A typical mortgage payment comes to $1,513.
Based on SmartAsset's calculations utilizing the 50/30/20 rule, a solo buyer would need to earn about $84,781 per year to live comfortably in the state.
Owning a home on one income may be feasible in affordable states in the Midwest and the South. Ohio offers modest home prices and stable inventory.
The single person that's buying homes right now seems to be pretty responsible as far as their finances go.
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