These Are the 10 Most Affordable Cities to Buy a Home Right Now, According to a New Report

Here's where acquiring real estate is doable.

Aerial view of houses in a neighborhood. — Credit:
jimfeng / Getty Images

Home prices have surged in recent years, making homeownership out of reach for many Americans. Fortunately, that's not the case everywhere.

To determine the most affordable cities for home buyers, WalletHub analyzed 300 U.S. cities using 10 key metrics, including home purchase and maintenance costs, tax rates, and vacancy rates. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for home affordability.

Here are the top 10 on the list.

The 10 Most Affordable Cities for Home Buyers

Flint, Mich.
Detroit, Mich.
Surprise, Ariz.
Yuma, Ariz.
Akron, Ohio
Pittsburgh, Pa.
Memphis, Tenn.
Augusta, Ga.
Indianapolis, Ind.
Cleveland, Ohio

According to WalletHub, Flint is the most affordable city for home buyers, boasting the lowest cost of living index in the country and the most affordable home prices relative to residents' income. It also has the lowest median home price per square foot at only $59, while the price in the most expensive cities is over $1,000 per square foot.

The personal finance site notes that part of the reason housing might be affordable in the city is because of its water crisis. But its drinking water has now met Environmental Protection Agency standards for six years.

Detroit is the second-most affordable city, with a median house price being over twice the median household income, the second-lowest rate in the country. The median price per square foot is also very low at roughly $89.

The most unaffordable city for buying a home: Santa Barbara, Calif.