The United States of America is a vast sprawling country, covering many different landscapes all coming with their own unique spin on American culture. It’s fair to say that Kentucky living is quite a different experience to those in Oregon. Do you prefer the beach? Or do you prefer the mountainous backdrops… or perhaps even supreme metro city living in the Big Apple?
With so much moving and shaking of Americas great cities following the pandemic we’ve gone ahead and researched 5 of the best and affordable places for buying a new home in 2021. An online search can reveal industry best mortgage choices and rock bottom interest rates to guarantee you’re getting the best affordable home with your budget that’s also in a safe and thriving neighborhood.
Reviewing Americas Changing Real Estate
Now there are many factors contributing to buying a New Home like ideal climate, competitive price and also the willingness to leave behind the familiar, it’s no wonder why home buyers have such a hard time picking a location. We took all these factors into consideration when conducting our research on the best places to buy in 2021. And with this information we’ve come up with a list of cities that are affordable and thriving areas for those looking to buy a new home in 2021.
Historically Low Mortgage Rates… On The Way Out?
The past 18 months has been a true record breaking time for American interest rates. When the pandemic hit, the Federal Reserve ran to slash interest rates to help stimulate the economy from dipping to unchartered lows. Throughout 2020, mortgage interest rates hit their lowest levels ever and remained low throughout the year with some minimal fluctuation but in the first quarter of 2021, rates have increased somewhat, yet still have maintained a low range. It is not to late to snap up a bargain new home for you and your family.1
5 Affordable Cities for Living the American Dream
Tampa, Florida:
Tampa is a beautiful and sustainable home with easy access to nature. If you want to buy an affordable home in Tampa, now truly is the time. Some of the amazing neighborhoods in this county remain on the cheap side, with homes going for much less than the $120,000 median, but prices are rapidly increasing – some of this due to Americas Space Force facilities being created in this area driving up property prices.2
Home prices in Florida, Clearwater, and Saint Petersburg have risen more than 10 percent over the last year. But there are still plenty of neighborhoods, particularly in the Saint Petersburg area, where homes sell for less than $60,000.
Milwaukee, Wisconsin:
I think anyone who really knows the city would agree we have it pretty good here. Milwaukee has a lot of what you’d associate with a big city, but it feels like home from the first time you get to know every nook and cranny. There are parks and neighborhoods, and people living their lives here, just like anywhere else – we even have our own dialect!
With median home prices in the $160,000 range and home insurance costs at a nation wide low (roughly $947 for a $250,000 home), Milwaukee is a fantastic place for setting up an established homestead. Furthermore with the fastest-growing segments of the local economy being financial services, publishing and printing, and healthcare there is plenty of future employment available. Healthcare alone makes up more than 25% of jobs in the city. If you are seeking a career in these sectors, moving to the city could be more advantageous for you.
Detroit, Michigan:
What Affordable housing article would not feature the cheapest option of them all, Motor City. With recent blows to the cities economy like losing its stance on the automotive industry, Detroit in the last few years has been on a rapid incline once again. With amazing food, entertainment, and rising tiers of education, Detroit is attracting more and more first home buyers to the city.
Median house prices in this city an astonishing low of $51,000, Detroit could be a favourable option to those low on budget but with looking into the future with plenty of upside!
Buffalo, New York:
The famous Western New York city, known for its ever trying Football Bills and blue collar workers culture is the perfect choice for families wanting a great state option at a low price. In fact Buffalo is the most affordable city to live in New York, with a median home price of $109,000.3 Buffalo has a number of affordable colleges and universities, with SUNY Buffalo State and University at Buffalo as the largest. In the past decade, there have been increasing efforts to provide greater access to higher education in low-income neighborhoods such as East Side.
Baltimore, Maryland:
The city of Baltimore was established in 1729, making it one of the oldest continually inhabited communities in the United States. Baltimore is one of the few cities in the United States where you can still find row houses based on the initial colonial influences. There are several charming neighborhoods where you can find an apartment, condo, or studio with a unique ambiance that other cities can’t provide.
The larger of the median home pricing of the cities we’ve covered coming in at $177,000, Baltimore is one of the most attractive larger cities for people who are young, single, educated, and upwardly-mobile career starters.4 This makes it a good place to live for young singles in their 20s and 30s and who have undergraduate or graduate degrees and are starting their professional careers. Although Baltimore is a large city, this demographic is significant enough that young professionals will find many others like themselves here, with really good opportunities for friendships, recreation, romance, and more.
Find Your Perfect New Home With a Matching Low Mortgage Rate:
To find the best available property to you and your family, whether investment or your humble abode an online search can identify the pros and cons you need to know before committing to any plan. It can take just minutes to receive a wealth of information regarding purchasing your new home, potential future market prices of your intended city as well as the perfect home insurance or mortgage right you need.
