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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.


  1. Huntsville, Alabama

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.

  1. 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.

  1. Provo, Utah

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.

  1. McKinney, Texas

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.

  1. Petersburg, Florida

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%.

  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.

  1. Denver, Colorado

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.

  1. Tulsa, Oklahoma

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.

  1. 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.

  1. 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.





Read more at https://www.newamericanfunding.com/blog/affordable-cities-buy-a-home/#zbJrEda23usLddPi.99


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Posted To: Mortgage Rate Watch

Mortgage rates remained in line with 3-month lows today for the average lender. Several lenders offered marginally better terms compared to yesterday, but in those cases, the only changes were to the upfront costs associated with the same rates quoted yesterday. It's a pleasant surprise to see rates as low as they are considering several economic reports have been quite strong recently. In general, stronger economic data tends to put upward pressure on rates. That was a risk today with today's Existing Home Sales report coming in at the best levels since early 2018. But econ data isn't the only consideration for the bond market that underlies day-to-day rate movement. Low inflation, geopolitical tensions, and even concerns over the Coronavirus outbreak are just three of many other factors that...(read more)

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Existing Home Sales Highest in Nearly 2 Years

Posted To: MND NewsWire

Existing home sales rose convincingly in December, gaining 3.6 percent compared to sales the prior month. Sales of all existing home types , single-family, townhouses, condos, and cooperative apartments were higher than in November and all posted double digit increases from sales in December 2018. The National Association of Realtors® said home sales were at a seasonally adjusted annual rate of 5.54 million units in December compared to 5.35 million units in November. They were up 10.8 percent from the 5.00 million pace in December 2018. Single-family home sales were also solid, posting a gain of 2.7 percent to an annual rate of 4.92 million (compared to 4.79 million in November) and a 10.6 percent change from a year earlier. Condominium and co-op sales were recorded at a seasonally adjusted...(read more)

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