5 US Cities That Offer The Best Affordable Housing

Buying a home in the United States has never been more expensive. As people try to keep their jobs with the same payment over a couple of years, real estate prices continue to soar. This is evident in the news about millennials struggling to buy their own homes, compared to their parents who were able to purchase properties when they were at the same age.

According to real estate expert Rusty Tweed, there are many reasons why people can’t afford housing at their state in life. The most common problems for aspiring homebuyers are:

• Lack of savings for a downpayment – some properties require some form of downpayment before the mortgage. In this scenario, first time home buyers don’t have enough savings due to ongoing debts and other forms of financial responsibilities.
• Poor credit score – in order to purchase or take a loan for housing, you need to have good credit. As people struggle to pay bills on time or find a means to improve their credit score, buying a home seems to be always on hold.
• Lack of information or access to affordable housing – some people don’t know where to begin when searching for an affordable house. Others are limited to the choices available or convenient in their workplace. With proper research and understanding of the real estate market. Homeowners can finally buy a place to call their own.

How can one find affordable housing? If you are an individual who is not constrained to a location or thinking of relocating to a good city with great housing terms, you may want to consider this list of affordable and good quality housing in US cities.

5 US Cities That Offer The Best Affordable Housing

Dallas Fort-Worth, Texas

Although not the biggest city in the biggest state, Dallas offers a great potential for people who are looking for great jobs and affordable housing. Rusty Tweed states that Dallas is a highly metropolitan city, with booming tourism and commercial development. The median home value in Dallas is $211,000 which is lower than the national average. There are over 200,000 employment opportunities available in Dallas as well.

The listings available in this area for a $250,000 house offers a spacious 2000 square feet area with 3-4 bedrooms per house. Dallas is an ideal city for singles who are hoping to start over or small families who are relocating. Dallas is also a major airport that offers great, affordable flights to many parts of the state.

Charlotte, North Carolina

Although North Carolina may seem like more of a rural state to some, it is interesting to note that Bank of America’s headquarters is located in Charlotte. It is also surprising to see that Charlotte has a median salary average of $45,000, with median home prices at only around $170,000. It is also considered as a commercial city in North Carolina, with many business hubs sprouting on every corner. At present, the homes listed in Charlotte have 1,500-1,700 square feet for a 3-bedroom unit.

Chicago, Illinois

Chicago is also a good city to consider for those who want to stay in the metropolitan area. It is considered one of the largest cities in the US, with over 300,000 job offerings available for people who want to live permanently in the city. The median home value is priced at $211,000 for 3-bedroom units.

Chicago also has an international airport which provides easy access for people who travel frequently. Since Chicago is a highly metropolitan and populated area, there are many choices for purchasing a property. It is also easy to find foreclosed homes that can be flipped and renovated for an affordable price.

Milwaukee, Wisconsin

This city in the Midwest offers great potential as small businesses are rising along its downtown area. Milwaukee is known for its sprawling commercial area that’s just starting to grow and offer about 40,000 jobs at present. The median home price in this city is $215,000 which is a good place to start if you have some savings on hand. Milwaukee may also be a good option for those aspiring to start a business along with making Wisconsin their home.

Atlanta, Georgia

The most popular city in Georgia is also considered its highly commercial hub. Atlanta has a surprisingly low median housing value at $179,000. Additionally, the city also offers 195,000 new jobs for those who want to settle down. The city is also known for its popular landmarks such as museums, stadiums, and its important role in the Civil War History. An average $250,000-$300,00 home would feature a 3-4 bedroom and 1-2 bathroom units in the suburban areas.

According to Rusty Tweed, real estate is all about location. Before thinking of the home you want, you must consider all the livability factors before a purchase.