by Rafael Pena
January 18, 2024
Housing analysts have spotlighted the nation’s 10 most economically viable cities.
Daily Mail reports housing analysts spotlighted the nation’s 10 most economically viable cities for homebuyers, with a particular southern city claiming the top position.
Leveraging data from the U.S. Census Bureau and Altos Research, Homebuyer.com employed a algorithm to select the most budget-friendly cities across the country. The analysis delved into essential factors such as mortgage payments, property taxes, transportation expenses, and home insurance costs among America’s 800 Census-recognized cities.
Notably, the research pinpointed Macon, Georgia, as the current frontrunner for the most economical city for homeownership, where the overall costs amount to approximately $1,892 per month
Macon, Georgia: The Heart of Georgia
The most affordable city in the U.S. for homeownership offers a blend of rich history and affordability. Mercer University in College Hill adds to Macon’s appeal.
Detroit, Michigan: The Motor City’s Resurgence
Detroit takes the second spot on the list with an average monthly cost of $1,921. The city has experienced a resurgence in recent years, marked by population growth and a thriving arts scene.
Gary, Indiana: ‘The Magic City’ on Lake Michigan
Monthly living costs in Gary average around $1,931. The city’s Dollar House Program and revitalization efforts contribute to its affordability and attract new residents.
Flint, Michigan: Vehicle City’s Rejuvenation
Flint has faced economic challenges since the decline of General Motors. However, recent revitalization efforts have aimed to rejuvenate the city. Flint offers an average monthly homeownership cost of $738, making it an affordable option.
Toledo, Ohio: The Glass City’s Revitalization
Located on the shores of Lake Erie, Toledo has gained recognition for its affordability and ample housing supply. The Glass City’s ongoing revitalization efforts, including a burgeoning entertainment district, contribute to its attractiveness for homeowners. Monthly homeownership costs average $932.
Syracuse, New York: Outdoor Activities and Affordability
With mortgage payments averaging $1,002 per month, the city faces high demand and low housing inventory, making home buying a challenge.
Canton, Ohio: Urban Renaissance and Arts District
Canton, once a heavy manufacturing center, has experienced a significant urban renaissance since the mid-2010s. Homebuyers benefit from mortgage payments averaging $1,063 per month and a growing arts district in the downtown area.
Springfield, Illinois: Capital City’s Appeal
Springfield, Illinois, the state’s capital, boasts above-average public schools, a diverse population, and a reputation as one of the best places to buy a home, with an average monthly homeownership cost of $1,104.
Lansing, Michigan: Progressive City with Affordability
Michigan’s capital, is recognized as a top choice for first-time buyers seeking affordability and progressive amenities. With a vibrant art scene and an economy driven by technology and manufacturing, Lansing offers a monthly homeownership cost of $1,156.
Pontiac, Michigan: Economic Renaissance and Housing Boom
Known for its historical ties to General Motors, Pontiac has seen a boom in boom in jobs and housing. Monthly costs for homeownership in Pontiac average $1,165, and it is a short commute from Detroit.
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