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Cities where Americans have the most cash left over after paying their mortgages

Here’s the cities where people have the most income left after paying their mortgage:

Washington, D.C.

People earning median-income and paying the average mortgage in the D.C. area are expected to have about $83,642 left over per year.

The average resident allocates about 19.3 percent of his or her income toward homeownership. Because salaries in the area tend to be higher, residents have more discretionary income to move around.

For renters, left over totals are closer to $77,738.

Boston, Massachusetts

People who owe a mortgage in Boston, Massachusetts tend to put about 25.4 percent of their income toward paying it. That being said, Bean Town residents have $67,165 left over after those expenses are paid.

Renters allocate an even larger share of their income toward housing – at 31.8 percent. Still, Boston renters are typically left with $61,467.

Think the Washington area’s housing costs are high? Homeowners here actually have the most money left over after paying their mortgages.

Ask anyone searching for a home to buy or an apartment to rent in the Washington area whether this region is affordable, and you’re likely to hear a resounding no. But in a recent analysis by Zillow , homeowners in metropolitan Washington have the most money left over after paying their mortgages.

The analysis ranks metro areas by comparing the median gross income and the median mortgage payment. In other words, renters and homeowners who rank high have so much left over after paying monthly housing costs because they make a lot of money to begin with.

In the Washington area, the typical home buyer spent 19.3 percent of his or her income on mortgage payments. A homeowners with a typical income for the area had $6,970 left over after paying the mortgage, which is $2,618 more than the national average.

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