Despite the seller-friendly market, there are still plenty of places in the U.S. where you can find a quality home at an affordable price. Where? Well, Forbes Advisor compiled a list of the most affordable cities for first-time homebuyers. To discover the best cities, Forbes Advisor looked at cities where the average wage is enough to afford a median-priced, single-family home. So if you’re looking to maybe make a move to say Georgia or Michigan — two states that are absolutely represented on this list — there are some great locales to consider if you’re looking for affordability of homes at millennial-level wages. And remember, no matter what you do, home buying is still pretty tough right now.
The 10 Most Affordable Places for Average-wage Earners
-Median sales price of single-family home: $104,750 -Average annualized weekly wages: $47,918 -Median sales price of single-family home: $124,950 -Average annualized weekly wages: $64,272 -Median sales price of single-family home: $155,000 -Average annualized weekly wages: $67,756 -Median sales price of single-family home: $132,000 -Average annualized weekly wages: $51,207 -Median sales price of single-family home: $138,500 -Average annualized weekly wages: $51,883 -Median sales price of single-family home: $175,000 -Average annualized weekly wages: $67,470 -Median sales price of single-family home: $125,500 -Average annualized weekly wages: $50,804 -Median sales price of single-family home: $151,770 -Average annualized weekly wages: $51,467 -Median sales price of single-family home: $173,000 -Average annualized weekly wages: $55,081 -Median sales price of single-family home: $180,000 -Average annualized weekly wages: $60,333 Forbes Advisor also compiled two other lists, based around the most affordable cities for people who work-from-home (turns out Ohio is fantastic for remote workers) and the most affordable cities for people who are looking to buy a condo instead of a home. You can see both lists here.
