The Most Affordable Metros in America: Get More Bang for Your Buck
Many Americans are concerned about home affordability, especially as mortgage rates continue to trend higher. Despite the challenges, several metros still offer the opportunity to own a home without overextending one’s budget.
Realtor.com® recently analyzed the largest metros in the U.S. and found that while cities like Los Angeles, New York City, and San Diego remain among the least affordable, there are gems where homeownership is achievable for nearly 60% of households.
Whether you’re looking to buy in one of these affordable markets or are curious about options elsewhere, Gibson Sotheby’s International Realty provides unparalleled support. Through our national and global referral networks, I can connect you with the perfect real estate professional who knows your target market inside and out.
Let’s look at America’s five most affordable metros, where you can stretch your dollar further.
1. Pittsburgh, PA
Median list price: $244,000
Percentage of households who can afford to buy a median-priced home: 69.6%
Median income required to buy a home: $58,697
Pittsburgh tops the list with affordability, attracting first-time buyers and seasoned investors. Its affordability and urban amenities blend, making it a top choice for savvy homebuyers.
2. Akron, OH
Median list price: $228,200
Percentage of households who can afford to buy a median-priced home: 68.5%
Median income required to buy a home: $55,732
Akron is making waves, ranking No. 9 on Realtor.com’s October Hottest Housing Markets list. With a median list price below $230,000, it’s a magnet for Gen Z first-time buyers.
3. Baltimore, MD
Median list price: $369,995
Percentage of households who can afford to buy a median-priced home: 64.1%
Median income required to buy a home: $83,948
Baltimore combines affordability with charm. From historic rowhouses to modern buildings, the city offers something for everyone at a price accessible to many households.
4. Detroit, MI
Median list price:** $271,200
Percentage of households who can afford to buy a median-priced home: 62.6%
Median income required to buy a home: $64,888
Detroit’s affordability is matched by its character. Tudor-style homes, like the one pictured here, offer incredible value for the price, making this city a standout option for buyers.
5. St. Louis, MO
Median list price: $299,450
Percentage of households who can afford to buy a median-priced home: 62.4%
Median income required to buy a home: $72,101
With a rich history and affordable homes, St. Louis combines quality of life with attainable prices, making it an excellent option for buyers looking to settle down.
Need Help Finding Your Perfect Market?
Whether you’re drawn to one of these affordable metros or have your sights set on a completely different location, I can help. At Gibson Sotheby’s International Realty, we’re part of a robust national and global referral network, ensuring you’re connected to a knowledgeable agent wherever you want. From local markets to international opportunities, we guarantee you have access to the best resources and guidance.
Ready to take the next step? Let’s discuss your goals and connect you with an expert in your desired market. We’ll find your dream home in the right place for you. Contact me today to explore your options!
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