Home affordability is particularly bad in many of the largest U.S. cities, but there are still some relative bargains to be found for urban homebuyers on a tighter budget.

Of the 50 largest cities, 11 are considered affordable for households earning a U.S. median annual income of $74,580, according to an analysis by mortgage analytics firm HSH.

In Cleveland, the most affordable city on the list, homebuyers only need to earn $58,403 annually to afford the mortgage principal, interest, property taxes and homeowners insurance payments for a median-priced home costing $191,900.

The estimate assumes no more than 28% of gross income is spent on housing costs, with a 20% down payment and an average mortgage rate of 6.75% for borrowers with good or excellent credit scores. 

DON'T MISS: Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure 

Homes in these 11 major cities all offer median prices below $300,000 — much less than the national median of $412,300, according to U.S. Census data. 

The trade-off is that these places may offer fewer high-paying job opportunities due to more modest local economies. Some, like Detroit, have had longstanding population declines.

Here's a look at the 11 major U.S. cities where households earning $75,000 can still afford a home, according to HSH.

1. Cleveland

• Income needed: $58,403
• Median home price: $191,900

2. Pittsburgh

• Income needed: $59,604
• Median home price: $207,100 

3. St. Louis

• Income needed: $68,240
• Median home price: $241,100

4. Detroit

• Income needed: $68,335 
• Median home price: $240,000 

5. Louisville, Kentucky

• Income needed: $69,170 
• Median home price: $262,000 

6. Oklahoma City

• Income needed: $70,456
• Median home price: $251,000 

7. Buffalo, New York

• Income needed: $71,669
• Median home price: $229,700 

8. Memphis, Tennessee

• Income needed: $71,943
• Median home price: $272,400 

9. Birmingham, Alabama

• Income needed: $75,194
• Median home price: $295,000 

10. New Orleans

• Income needed: $75,218
• Median home price: $277,700 

11. Cincinnati

• Income needed: $75,634.57 
• Median home price: $280,600 

Data for this study was compiled using median home prices from the National Association of Realtors and 30-year fixed mortgage rates from Freddie Mac for the first quarter of 2024.

Mortgage rates for all 50 cities examined were 6.75%, except for San Francisco and San Jose, California, which were 7.16% due to their median home prices qualifying as jumbo loans. Jumbo loan data — typical for amounts over $700,000 — came from the Mortgage Bankers Association.

Property taxes were calculated using U.S. Census data for each city, while insurance costs were based on average state rates from the Insurance Information Institute.

Want to stop worrying about money? Sign up for CNBC's new online course Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure. We'll teach you the psychology of money, how to manage your stress and create healthy habits, and simple ways to boost your savings, get out of debt and invest for the future. Start today and use code EARLYBIRD for an introductory discount of 30% off through September 2, 2024.

Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.