Inflation paired with rising interest rates has many consumers deferring their home-buying plans in 2023. Consider that the median home price jumped to $436,800 during the year's first quarter, which is more than $123,000 more than it was just four years prior, according to WalletHub. But there is a bright spot: People who are willing to relocate away from the counties most inflated locations can still find a relative bargain when it comes to buying a new home. WalletHub recently looked at 300 cities nationwide to determine which ones are most affordable for today's homebuyers. Researchers took into consideration such factors as a city's overall housing affordability, average maintenance costs and vacancy rate to determine where budget-minders buyers may want to focus their home search. The slideshow above illustrates the 10 most affordable cities in the U.S. for buying a home in 2023, according to WalletHub. See also: |
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
