When you make the decision to buy a home, there are several things to think about. One of the biggest considerations is affordability. Take a look at our list of the top 10 most affordable cities to buy a home.
For two years in a row, Huntsville, Alabama has been named the most affordable place to live in the United States. With an above average median salary and low cost of living, Huntsville residents are storing more cash in their pockets and savings accounts. Only 19.3% of income is spent on housing expenses.
Charlotte, North Carolina
In Charlotte, North Carolina, residents spend just 21.8% of their income on housing expenses. Charlotte offers charming homes in a vibrant city with great career opportunities and an exciting night life.
Only 45 minutes from Salt Lake City, the city of Provo offers lower housing costs than the rest of the state. Provo’s most affordable neighborhood has homes listed for a median price of $210,000.
As of December 2018, homes in McKinney are selling for about 40% below asking price, which means buyers find themselves with great negotiating power. Many families reside in this area partly because of how highly rated the public schools are.
St. Petersburg could be a great option for people who want something affordable, but still want to be close to the coastline. Income has gone up 5.1% in this area, while home prices have gone down 2.1%.
Albany, New York
Want to own a home but don’t want to give up that exciting city life? Albany, New York is calling your name. On average, homes sold for 2.2% below asking price which means you can save a few thousand on a home.
Are the mountains calling? Live in the heart of an exciting, outdoorsy city without breaking the bank. Denver has seen a 6.8% increase in income and a 2.1% decrease in home prices.
Residents in Tulsa only spend 21.4% of their income on housing expenses. The median home is $149,000, which is well below the national average of $227,025.
Ann Arbor, Michigan
Money lasts quite a bit longer here. Ann Arbor is the most affordable city to live in the entire state of Michigan. As the home of the University of Michigan, culture and technology are thriving. If you like being around the hustle and bustle of a college town, Ann Arbor might be for you.
Des Moines, Iowa
The median home value here is $188,002, which sits far below the national average. Des Moines offers a city with plenty of opportunity and affordability to go around.
Buying a home comes with a lot of tough, but important decisions. One of the biggest considerations is affordability. If you’re looking to buy a home but don’t want to break the bank, consider searching for your dream house in one of these cities to make your money last longer.
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