The Most Affordable US Cities to Buy a Home Right Now

Posted on February 18, 2023 by resourcefulman

Over the past few years, rising home prices have made home ownership out of reach for so many. As a result, many people have been forced to rethink their plans and reassess their priorities in terms of how and where they want to live.

And while the cost of housing is an important part of what makes a particular location affordable, it’s only one piece of the puzzle. That’s why Homebuyer analysts took into account a few pieces of the puzzle when ranking the most affordable US cities to buy a home in right now for a new report. Here’s what happened.

What makes a city accessible?

Determining the affordability of a city is more than the cost of buying a house in it, although it is certainly an important component. Instead, there are many factors to consider based on your needs and lifestyle, such as where you work, whether you have children, and proximity to the airport.

In their recent report, Homebuyer researchers ranked the most affordable US cities based on the following four components:

The cost of houses and their mortgage
Property tax
Cost of transportation (including commuting, availability of public transportation, and taxes on gas and electricity)
homeowner insurance cost