7 Major US Cities with Affordable Homes and Easy Availability
In a recent study by Realtor.com, only seven of the 50 largest real estate markets in the US are both at least 10% cheaper than the national average and have homes that are easy to find.
Real EstateAffordable HomesHomebuyingRealtorcomUs CitiesReal EstateNov 03, 2024
InformationRealtor.com is a leading online real estate platform that provides comprehensive data and insights into the housing market. Their monthly studies are highly regarded and offer valuable information for both buyers and sellers. The criteria for their latest study included the median home prices and the number of listings available in each market.
The 7 Major Cities1. Toledo, Ohio - Median Home Price $135,000 - Homes for Sale Over 1,000 listings - Affordability 44% cheaper than the national average
2. Dayton, Ohio - Median Home Price $140,000 - Homes for Sale Over 1,200 listings - Affordability 42% cheaper than the national average
3. Youngstown, Ohio - Median Home Price $75,000 - Homes for Sale Over 500 listings - Affordability 57% cheaper than the national average
4. Akron, Ohio - Median Home Price $150,000 - Homes for Sale Over 800 listings - Affordability 40% cheaper than the national average
5. Buffalo, New York - Median Home Price $145,000 - Homes for Sale Over 1,100 listings - Affordability 41% cheaper than the national average
6. Cleveland, Ohio - Median Home Price $160,000 - Homes for Sale Over 1,300 listings - Affordability 38% cheaper than the national average
7. Scranton, Pennsylvania - Median Home Price $115,000 - Homes for Sale Over 700 listings - Affordability 47% cheaper than the national average
Realtor.com is a top-tier online real estate platform that connects homebuyers and sellers. Their comprehensive data and market insights help individuals make informed decisions about buying, selling, and renting properties.
Why These Cities?The cities listed above have several common factors that contribute to their affordability and availability. These include
- Lower Cost of Living These cities generally have a lower cost of living compared to larger metropolitan areas, making them more attractive to budget-conscious buyers.- Economic Revitalization Many of these cities are experiencing economic growth and revitalization, which can lead to increased property values and a higher quality of life.- Population Trends Some of these cities are seeing an influx of younger residents who are looking for affordable housing options and a strong sense of community.
ConclusionFor those looking to buy a home, these seven cities offer a combination of affordability and availability that is hard to find in larger, more competitive markets. Whether you’re a first-time buyer or a seasoned investor, these cities are worth considering for your real estate needs.
FAQs Q1 What is Realtor.com? A1 Realtor.com is a leading online real estate platform that provides comprehensive data and insights into the housing market, helping homebuyers and sellers make informed decisions.
Q2 How does Realtor.com determine affordability in their studies? A2 Realtor.com considers the median home prices and compares them to the national average to determine affordability. They also look at the number of listings available in each market.
Q3 What are the common factors among the cities listed? A3 The common factors include a lower cost of living, economic revitalization, and positive population trends, which contribute to affordability and availability.
Q4 Are these cities suitable for first-time homebuyers? A4 Yes, these cities are particularly suitable for first-time homebuyers due to their affordability and the availability of homes.
Q5 How can I find more information on these cities? A5 You can visit the Realtor.com website or consult with a local real estate agent to get more detailed information on these cities and the available properties.
Frequently Asked Questions
What is Realtor.com?
Realtor.com is a leading online real estate platform that provides comprehensive data and insights into the housing market, helping homebuyers and sellers make informed decisions.
How does Realtor.com determine affordability in their studies?
Realtor.com considers the median home prices and compares them to the national average to determine affordability. They also look at the number of listings available in each market.
What are the common factors among the cities listed?
The common factors include a lower cost of living, economic revitalization, and positive population trends, which contribute to affordability and availability.
Are these cities suitable for first-time homebuyers?
Yes, these cities are particularly suitable for first-time homebuyers due to their affordability and the availability of homes.
How can I find more information on these cities?
You can visit the Realtor.com website or consult with a local real estate agent to get more detailed information on these cities and the available properties.
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