Discover the Top US Markets for Affordable Homes Under $200,000
Money | June 19, 2024, 6:43 a.m.
In the past decade, the availability of affordable housing has significantly decreased, with the number of homes for purchase under $200,000 dropping from half of all sales to just 21%. However, there are still pockets of opportunity for prospective homebuyers, particularly in cities like Albany, Georgia, and Lauderdale Lakes, Florida, where the inventory of affordable homes has actually increased. Realator.com's data shows that Detroit, Michigan, and Cleveland, Ohio have the highest volume of affordable listings, while Lauderdale Lakes and Lauderhill, Florida, have the highest concentration of affordable homes for sale. Despite the overall trend of rising home prices, there are regions, like the upper-Midwest, where affordable options remain consistent. While the housing market continues to face challenges with high prices and mortgage rates, there are still opportunities for buyers willing to search in the right places.