What Are the Five Most Affordable Cities in Michigan to Buy a House?
Home prices have remained slightly elevated as of late, creating challenges for homebuyers, especially those who are considered first-time buyers. But there is some encouraging news as home prices in some cities remain affordable.
Average Home Prices
The website Go Banking Rates crunched the data to find the cheapest cities in each state to purchase a home. According to Zillow, the average home value in the United States is about $327,000. Compare that to the average home price in Michigan, which is $214,231, significantly lower than the national average.
Go Banking Rates analyzed the latest data available from Zillow and the US Census Bureau in order to analyze "significant" cities in each state and choose several places in each state where home prices are the most affordable.
The use of the term "significant cities" indicates that home-buying data from smaller cities and towns in each state was not factored in. Go Banking Rates' methodology states that for most states (like Michigan) cities, only cities with a minimum population of 30,000 people were used. For a handful of states, that threshold was lowered to cities with 10,000 people.
What are Michigan's Most Affordable Cities for Home Buyers?
- The website determined that Flint has the lowest home prices in the entire state. With a population of 83,312, Flint's average home value is $47,361.
- Detroit came in second on the list. Detroit's population is 645,658 and the average home value in the Motor City is $69,897.
- Bay City is the third most affordable city in Michigan. Bay City's population is 32,824 and the average home value there is $88,354.
- Next up is Saginaw, with a population of 44,796. The average home value there is $98,300.
- Pontiac is fifth on the list with a population of 61, 498 and an average home value of $107,285.