Cities of US for affordable housing in 2023
The very basic reason people buy houses is to increase their financial status, i.e. become wealthier. But, lending big amounts and buying a house in a pricey area is not a good idea; it often results in sucking up funds rapidly and shrinking the bank account. Following this, the best solution for would-be house buyers is to find houses as per their affordability. Estate Agent Networking has conducted a market analysis to find and inform about the top cities of the US for housing in 2023.
Estate Agent Network believes that ‘cheaper’ does not always replicate the worst. In the case of real estate investment, cheaper and affordable housing also can have a higher equity ratio.
Bellbrook, Ohio:
Bellbrook, this suburb in Ohio has been a very unified but secure community. Living in Bellbrook offers house owners a rural feel in a quiet place. Residents of Bellbrook enjoy a modern lifestyle within a traditional setting. This great place always deserves a top position in consideration of cities in the US for affordable housing in 2023. A three-bedroom house with plenty of green spaces usually ranges from $500,000 to $1.5 million. Plenty of new houses are also available at a beginning price of about $300,000, constructed on wooded lots, and offer striking views.
Apart from the affordable housing facilities and fascinating living conditions, Bellbrook is well-recognized for its supportive learning environment and has many high-quality educational institutions. In addition, frequent festivals, friendly neighbors, and always welcoming restaurants can make life more enjoyable in various ways.
Youngstown, Ohio:
Youngstown is a midsized city in Mahoning County, situated halfway between Cleveland and Pittsburgh. This Rust Belt city is historically significant for the iron industries before 1970. Now, Youngstown is not only an affordable place to buy a house but also a place where rich historical traditions interact with the zeal of young blood. The median price of houses in Youngstown is about $123,000. However, depending on location, size, and quality the price ranges from $100,000 to $500,000.
Additionally, the livability score of Youngstown is above average in the terms of lower living costs, lower crime rate, residents’ happiness, quality education system, etc. Still, residents struggle to meet the community’s changing needs as per the fast-paced demographic transposition.
Hickory, NC:
Hickory offers the residents a suburban feel with various activities and close-knit communities. This North Carolina metro region consists of fascinating mountain views, peaceful and traditional neighborhoods, various fine art facilities, and so on. Hickory residents not only spend less on groceries and health but also can have quality housing at a cheaper rate. The median home value in Hickory is $161,000 which is far less than the average national value ($229,800). A 3-bed house price ranges from $70,000 to $397,000 based on coverage area, number of rooms and facilities, location, existing condition, etc.
Hickory is a ‘Hidden Gem’ in the state, rich in past success in the furniture, hosiery, and textile industries. Living in this US city is affordable considering lower living costs, diversified culture, cheap housing, and natural beauty.
Detroit, Michigan:
Detroit, this Michigan Motor City is steeped in antiquities, traditions, and transformation. In association with the remarkably lower living cost, the city offers sports-related entertainment, vast open-air endeavors, niche neighborhoods, casino games, the Institute of Arts, and many more. Following the below national average living cost, the median home price is only $85,000. Most amazingly, with only $30,000 to $50,000, a standard two-bed house can get. Furthermore, high-end house prices range from $200,000 to $550,000.
There are not many cities in which people can buy a house so cheap while having the option to experience the most diverse culture and traditions. Here, Detroit is the best one.
Pittsburgh, Pennsylvania:
Pittsburgh is situated at the confluence of two rivers; the Allegheny River and the Monongahela River. It scores top in the search for cities in the US for affordable housing in 2023. This historic and culture-rich city is always the best option for would-be home-buyers due to the amazing low-cost housing, the median home value is $259,400 only. A standard three-bed house price is about $115,000 to $348,900. However, a 2500 sq ft house with 3 beds and 2 baths can be purchased for $272,800.
Pittsburgh is the most desirable place in the US to live for young professionals, entrepreneurs, and students from different backgrounds and ethnicity.
Beaumont, Texas:
Beaumont is a modern and affordable city in the US, allowing residents to live a peaceful and healthy life. It is the best place to live in the US as the city offers a vital number of employment and business opportunities. In addition, Beaumont is a low-cost city with numerous options for affordable housing. A standard house (3-bed, 2-bath) price ranges from $70,500 to $149,600.
Living in Beaumont is bustling with events and happenings like concerts, live theater shows, sports, etc.
Above mentioned six cities can be the best choice for having affordable housing in the US in 2023. Still, an honorable mention consists of cities like Green Bay, WI; Fort Wayne, IN; Huntsville, AL; Peoria, IL.
You May Also Enjoy
Brits continue to chase Spanish sunshine
Property finance expert reveals the five renovations that could devalue your home
Urban housing mix forces estate agents to work harder
Property compliance experts urge landlords not to ignore major tenancy changes under Renters’ Rights Act
Nationwide becoming first lender to allow mortgage deeds to be signed digitally
