Fifth-most-affordable U.S. city: St. Louis The "Gateway to the West" offers consumers a great gateway to homeownership because it has below-average median home prices ($131,700) and an above-average median income ($51,164). St. Louis also boasts below-average median property taxes ($2,132), while the typical St. Louis resident pays $881 for homeowners insurance -- just $1 above the nationwide average. Add it all up and a median St. Louis household income provides 23.5% more money than you need to qualify for a mortgage on a median-priced home. Sante says St. Louis has low home prices because the city has lots of room to expand. "They're still building in St. Louis," he says. "There's abundant land there."