The Most Affordable American Cities to Buy a Home in Right Now

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Over the past few years, rising housing costs have kept homeownership out of reach for so many. As a result, a lot of people have been forced to rethink their plans and reassess their priorities in terms of both how and where they want to live.

And while the cost of housing is a crucial part of what makes a particular place affordable, it’s only one piece of the puzzle. That’s why Homebuyer analysts considered multiple puzzle pieces when ranking the most affordable American cities to buy a house in right now for a new report. Here’s what made the cut.

What makes a city affordable?

Determining a city’s affordability is about more than the cost of purchasing a home there—although that’s certainly a major component. Instead, it requires taking multiple factors into consideration, based on your needs and lifestyle, like where you work, whether or not you have kids, and the proximity to an airport.

In their recent report, Homebuyer researchers based their rankings of the most affordable American cities on these four components:

  1. Cost of homes and their mortgages
  2. Property taxes
  3. Cost of transportation (including commuting to work, the availability of public transit, and taxes on gas and electricity)
  4. Cost of homeowners insurance

The Most Affordable American Cities to Buy a Home in Right Now

Based on the factors outlined above, here are the 10 most affordable American housing markets, as of February 2023:

1. Macon, Georgia

Total monthly cost of homeownership: $1,892

2. Detroit, Michigan

Total monthly cost of homeownership: $1,921

3. Gary, Indiana

Total monthly cost of homeownership: $1,931

4. Flint, Michigan

Total monthly cost of homeownership: $1,951

5. Toledo, Ohio

Total monthly cost of homeownership: $1,955

6. Syracuse, New York

Total monthly cost of homeownership: $2,065

7. Canton, Ohio

Total monthly cost of homeownership: $2,160

8. Springfield, Illinois

Total monthly cost of homeownership: $2,168

9. Lansing, Michigan

Total monthly cost of homeownership: $2,184

10. Pontiac, Michigan

Total monthly cost of homeownership: $ 2,237

More detailed information on these cities is available in the full report.

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