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Affordable Cities

All articles tagged with #affordable cities

real-estate2 years ago

"Top Cities for First-Time Homebuyers in 2024: A Realtor.com Guide"

Realtor.com released a report detailing the top cities for first-time homebuyers in 2024, with Irondequoit, New York, leading the list due to its affordability and job opportunities. Other cities on the list included Benton, Arkansas, Winterset, Iowa, and Newington, Connecticut. Despite high interest rates and low inventory, a recent survey showed that 95% of prospective first-time homebuyers believe they will be able to afford a home within their lifetime, with 40% expecting to do so within the next year. Additionally, Redfin reported over 775,400 active home listings across the U.S., with a 0.04% increase in the average 30-year fixed mortgage rate to 6.66%.

via Fox Business|
#affordable-cities#first-time-homebuyers#housing-market
personal-finance2 years ago

"Comparing Purchasing Power: Houston vs. New York vs. Nashville"

A recent study by SmartAsset found that a person needs to earn three times the salary to afford the same lifestyle in New York as they would in Houston. SmartAsset looked at salaries, taxes, and the cost of living in 76 U.S. cities to see how much a resident with a six-figure salary would have to earn to actually have $100K worth of purchasing power. Texas is home to many better-value locales, including San Antonio, El Paso, and Corpus Cristi. A person living in Houston needs just $125,300 to feel like they "made it." However, cheaper cities may not retain their cost advantages in the long term.

via Yahoo Finance|
#affordable-cities#cost-of-living#moving
real-estate2 years ago

Top 5 Most Affordable Cities to Buy a Home in the US

WalletHub's annual analysis of the "Most Affordable Cities for Home Buyers" ranks Atlanta as the 15th most affordable among big U.S. cities, with a population of over 300,000. The study compared 300 U.S. cities across 10 key metrics, including the cost of homes, tax rates, and median home-price appreciation. The country's median home sales price has ballooned from $313,000 in early 2019 to nearly $437,000 in the first quarter of 2023, with interest rates climbing from a historic low of 2.65 percent in early 2021 to 6.39 percent this month for average, 30-year fixed mortgages.

via Urbanize LA|
#affordable-cities#atlanta#big-cities
finance2 years ago

The Real Value of a $100K Salary in Major US Cities.

A new analysis from SmartAsset shows that a $100,000 salary in New York, San Francisco, and Honolulu buys the same quality of life as someone making $36,000 per year almost anywhere else in the nation due to the high cost of living. Memphis, Tennessee, offers the biggest bang for your buck, with a six-figure earner having the equivalent of $86,000 left after taxes. Texas also ranks high in affordability, with seven of the top 10 cheapest cities in the calculation. California features heavily on the least-affordable list, with the 10 priciest cities including San Francisco, Los Angeles, Long Beach, San Diego, and Oakland.

via CBS News|
#affordable-cities#cost-of-living#finance