New study reveals how long it takes to pay off a home in Phoenix

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If you are in the market to purchase a new home, a new study released Monday might peak your interest.

A website that examines real estate trends, Point2 Homes, compiled a list that highlights the average time it takes to pay off a home in 50 of the most-populated cities in the nation.

The study focused on median home sale prices and the median annual income to determine affordability in each state.

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