While real estate can pave the way for financial freedom, buying houses can be expensive. The cost of living in any city is a significant factor in deciding where to live.
Fortunately, several cities with affordable real estate prices can offer a high quality of life. Here are the top 10 most affordable cities in the US.
Youngstown, OH: A History of Steel Production
Situated halfway between Pittsburgh and Cleveland is Youngstown, Ohio. This city, located close to the Ohio-Pennsylvanian border, has access to beautiful nature trails and bicycle paths, science, and art museums. It also hosts famous concerts and festivals.
Average household income: $31,020
Average home listing price: $149,900
Average down payment: $29,980
Syracuse, NY: The City of Natural Beauty and Many Wineries
Syracuse, a city in the middle of New York state, is located south of Lake Ontario and adjacent to the Finger Lakes region. The city is home to popular athletics, galleries, and museums and has a university with over 20,000 students.
Average household income: $40,076
Average home listing price: $217,250
Average down payment: $43,450
Scranton, PA: Childhood Home of Joe Biden
The boyhood home of the 46th US president, Joe Biden, is located in the northeastern part of Pennsylvania. This city used to produce coal back in the early 20th century. Its historic buildings are being redeveloped, and the city is being restored. Scranton has a popular ski resort used in winter, and hosts big-name concerts, festivals, and other entertainment.
Average household income: $54,279
Average home listing price: $225,000
Average down payment: $45,000
McAllen, TX: The “City of Palms”
Located at the southern tip of Texas, McAllen has a population of 142,210. Initially, this city was an agricultural center, a hotspot for tourists in the ’70s. After a few decades, the area has grown into a thriving economy and is well known as one of the safest cities in Texas.
Average household income: $57,359
Average home listing price: $270,000
Average down payment: $54,000
Little Rock, AR: A Southern Economic Hub
Brimming with headquarters of big banks like Bank of the Ozarks, Simmons Bank, and the financial brokerage Stephens Inc., is Little Rock. It is the most populous city in the Arkansas River area and home to the University of Arkansas, various libraries, museums, and an arts park.
Average household income: $53,565
Average home listing price: $298,873
Average down payment: $59,775
Jackson, MS: A Center of American History
The state capital of Mississippi, Jackson, is situated along the Pearl River that runs into the Gulf of Mexico. It is an economic center, and home to Jackson State University, the Mississippi Civil Rights Museum, the Mississippi Freedom Trail, and many more attractions.
Average household income: $35,080
Average home listing price: $299,000
Average down payment: $59,800
Indianapolis, IN: The City of Multiple Fortune 500 Companies
With a population of almost a million, Indianapolis is the third most populous city in the Midwest. Located in central Indiana, this state capital boasts big companies, museums, universities, the famous Indy 500 race, and two major league sports teams—the Pacers and the Colts. With the locale’s affordability and all it has to offer, it’s no wonder it has steady population growth.
Average household income: $58,479
Average home listing price: $300,000
Average down payment: $60,000
Wichita, KS: The City of Beautiful Botanical Gardens
Wichita, Kansas’s largest city, possesses a 44-foot statue crafted by American sculptor Blackbear Bonsin. The Little Arkansas River and the Arkansas River merge at the city’s center. Wichita hosts several events in the summer, with spots for live music and shows.
Average household income: $56,294
Average home listing price: $304,475
Average down payment: $60,895
Columbia, SC: The City that Welcomes a Million Visitors Annually
Columbia, the capital of South Carolina, is the second most populated city in the state. It is between Charleston and Charlotte and has at least eleven colleges and universities. One eminent attraction to this city is the Riverbanks Zoo & Garden, listed on the National Register of Historic Places, which welcomes many visitors annually.
Average household income: $47,524
Average home listing price: $308,900
Average down payment: $61,780
Augusta, GA: The Masters City
Augusta is situated on the banks of the Savannah River in eastern Georgia, along the borders of South Carolina. The city is well known for hosting one of the biggest professional golf championships, played yearly at the Augusta National Golf Club. Non-golfers can enjoy the scenery provided by the Augusta Riverwalk.
Average household income: $62,315
Average home listing price: $311,575
Average down payment: $43,009.
