Baltimore ranks fourth in U.S. for car affordability

Baltimore ranks fourth in the U.S. for car affordability, according to a report released Tuesday by Interest.com.

The report calculated that median-income households in the Baltimore-area can responsibly spend $24,042, or $468 monthly, on a new car. By compaison, the average price of a new car or light truck in 2012 was $30,550, according to TrueCar.

Washington, D.C., ranked first on the list, with the average housing being able to afford to a $31,940 car. That’s 33 percent more than in Baltimore.

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