Housing is expensive, as research shows rent prices have increased by a third from pre-pandemic prices and the cost to buy a home is up at least 50% in a lot of markets nationwide. An analysis was run on the 100 biggest cities in America to rank how affordable it is to live in each.
- According to their research, the most affordable city in the U.S. to live in is Toledo, Ohio.
- It has the second-lowest median home value at $190,669, which is about half the typical home value nationwide, $362,481.
- The cheapest rentals can be found in Wichita, Kansas, where the typical monthly rent is $1,120.
- The study finds that the most affordable electricity is found in Seattle, while property tax rates are lowest in Honolulu.
- On the flip side, six of the 10 least affordable markets are in California, including San Diego and Los Angeles, the top two least affordable U.S. metros.
Ranking the cities not only on the median price of a home but the affordability based off media incomes. 1 is the easiest 10 the hardest. Also the median monthly house payment and the median monthly rent payment. The final number is percentage of your median salary that needs to be used for rent.
#28 is Columbia SC $252,535
4.0
$1,561
$1,563
29.3%
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