With ever-increasing home prices and stagnant wages, the dream of owning a home could be out of reach for many Americans, according to a new report.

Median home prices increased by 121% nationwide between 1960 and 2017, but median household income only went up 29%, according to a report by Clever Real Estate.

The median gross rent, on the other hand, increased by 72%, more than twice the growth seen by adjusted incomes, making renting costlier than ever and saving for a future home difficult.

But if you head to the Midwest, all is not lost. There you can purchase a house with little financial struggle at least in the near future. The South might have a few offerings, too, but not for long, the report said.

The report used census data from 1960 to 2017 on home prices, rents and household income to determine how the cost and affordability of housing changed over time. All measures were adjusted for 2017 inflation.

What makes the Midwest affordable is its low price-to-income ratio, defined as the median home price divided by the median household income in an area, according to the report. It’s a gauge of how long it will take homebuyers to save for a down payment, and whether they’ll be able to afford their monthly mortgage payments.

A healthy price-to-income ratio is 2.6, the report noted, adding that the nationwide price-to-income ratio hasn’t been healthy since the late 1990s.

But in the Midwest the overall price-to-income is 2.9 compared with an average a ratio of 4.2 across the other three regions, the report said. For example, the price-to-income ratio for the region's three major metropolitan areas are 2.8 for St. Louis, and 2.7 for Des Moines and Cincinnati, in line with other healthy housing markets.

For example, in St. Louis, the median home price in 1960 adjusted for 2017 inflation was $113,988, whereas in 2017, the median home price was $172,200.

Only 16 out of the 100 most populated cities in the United States are below a 2.6 price-to-income ratio in 2019, the report noted. Topping the list are Toledo, Ohio, at 2.14, Scranton, Pa., at 2.15, Dayton, Ohio, at 2.26, Syracuse, N.Y., at 2.28, Wichita, Kan. and Pittsburgh both are at 2.34.

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