Finding an affordable home in 2023 can be a challenge with rising prices and limited housing supply. However, there are still some cities where prospective homebuyers can find great deals. From the Midwest to the South and Northeast, this article will look at 10 cities where home buyers can find an affordable home in 2023.
Realtor.com used economic and housing data to compare the growth of home prices and sales in the 100 largest US metros. This helped determine the best places to buy an affordable home in 2023. Homebuyers in Hartford, CT and El Paso, TX can expect reasonable deals. Both cities avoided buyer competition and rapid home price growth during the pandemic.
Check out this list of 10 cities where prospective homebuyers can find affordable homes
10. Toledo, Ohio
A major port city in the Midwest, renowned for its long-standing glass production and industry.
November 2022 median home price: $161,000
Forecasted 2023 home sales change: +4.2%
Forecasted 2023 home price change: +6.7%
Forecasted 2023 combined sales and price change: +10.9%
9. Chattanooga, Tennessee
Along the Tennessee River’s Moccasin Bend, Chattanooga is home to Ruby Falls, a 145-foot-tall underground cascade that is the city’s claim to fame.
November 2022 median home price: $397,000
Forecasted 2023 home sales change: +2.9%
Forecasted 2023 home price change: +8.2%
Forecasted 2023 combined sales and price change: +11.1%
8. Columbia, South Carolina
The University of South Carolina is located in the state’s capital city of Columbia, which is also the second-largest city in the state.
November 2022 median home price: $300,000
Forecasted 2023 home sales change: +7.7%
Forecasted 2023 home price change: +3.6%
Forecasted 2023 combined sales and price change: +11.3%
7. Grand Rapids-Wyoming, Michigan
Located along the Grand River and is only a short drive from Lake Michigan. It is well renowned for its many breweries and excellent beer.
November 2022 median home price: $358,000
Forecasted 2023 home sales change: +1.6%
Forecasted 2023 home price change: +10.0%
Forecasted 2023 combined sales and price change: +11.6%
6. Augusta, Georgia
The famed Masters Tournament is held every year in Augusta, which is located on the banks of the Savannah River.
November 2022 median home price: $319,000
Forecasted 2023 home sales change: +6.2%
Forecasted 2023 home price change: +5.7%
Forecasted 2023 combined sales and price change: +11.9%
5. Buffalo-Cheektowaga, New York
Formerly a major industrial player, has recently seen new investment and development.
November 2022 median home price: $240,000
Forecasted 2023 home sales change: +6.3%
Forecasted 2023 home price change: +6.0%
Forecasted 2023 combined sales and price change: +12.3%
4. Worcester, Massachusetts
Because of its geographic location in the middle of Massachusetts its recognized has the “Heart of the Commonwealth”
November 2022 median home price: $447,000
Forecasted 2023 home sales change: +2.5%
Forecasted 2023 home price change: +10.6%
Forecasted 2023 combined sales and price change: +13.1%
3. Louisville, Kentucky
One of the major cities in the Midwest, is situated along the Ohio River and is the site of the yearly horse racing competition known as the Kentucky Derby.
November 2022 median home price: $290,000
Forecasted 2023 home sales change: +5.2%
Forecasted 2023 home price change: +8.4%
Forecasted 2023 combined sales and price change: +13.6%
2. El Paso, Texas
Near to the Rio Grande and on the border with Mexico, the military base in Fort Bliss is situated.
vember 2022 median home price: $291,000
Forecasted 2023 home sales change: +8.9%
Forecasted 2023 home price change: +5.4%
Forecasted 2023 combined sales and price change: +14.3%
1. Hartford-West Hartford, Connecticut
The capitol of Connecticut and one of the oldest cities in the country is Hartford, which is situated on the Long Island Sound estuary.
November 2022 median home price: $372,000
Forecasted 2023 home sales change: +6.5%
Forecasted 2023 home price change: +8.5%
Forecasted 2023 combined sales and price change: +15.0%
Let is know in the comments below If you are planning to buy a home in 2023?