In 2018, American consumer debt reached a whopping $4 trillion, contributing to tightening affordability concerns in the housing sector.
In fact, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index, housing affordability sat at a 10-year low in the third quarter of 2018.
As the cost of living is often a significant factor in determining where people choose to live, homeowners often seek out more affordable markets.
LendingTree recently released a report that highlighted the best U.S. metros for paying off debt.
According to the company’s data, the top metros had a rent-to-income ratio below…