The next time you go shopping for a new car will probably involve some sticker shock.
With the average price topping $30,000, a new study finds our ability to pay isn't keeping up.
The financial website interest.com has released its annual Car Affordability Study of the top 25 cities in the U.S., and finds only Washington, D.C. has deep enough pockets to buy that average vehicle.
By stipulating 20 percent down, no more than four years to finance the balance and setting a limit of 10 percent of income to go toward payments, Houston only ranked 16th in purchasing power.
The study suggests the average Bayou City shopper can only spend around $19,000 on a new vehicle.
Authors of the study recommend looking to newer used vehicles to extend your purchasing power.