Owning your own home is often seen as a life goal and buying of an ideal home at most affordable price is the demand of everyone which is quite hard to find since affordable home lacks many features u dreamed for. Housing market has become the most important economic indicators of a country’s prosperity because the housing market constitutes a significant fraction of any country’s economy. The cheapest housing depends on geographical and policy limitations which decide prices of home since both affects demand and supply of home. Less constraints on growth and on building results in unconstrained supply that leads to cheaper prices Similarly A sparsely populated area will likely have lower demand for residential homes compared to more densely populated areas. On the other hand, areas lacking high average income have most affordable home.
Finding a real estate agent with complete expertise is really hard especially when you are planning to buy most affordable house in any distant area of country like America. Coldwell Banker Home Listing Report, the most in depth housing market comparison in the United States analysed 2, 000 real estate markets in the country, on the basis of more than 51, 000 similar-sized four-bedroom, two-bathroom homes and provide complete help for world tourists and immigrants who want to buy home at cheapest price. Note that report provide the median price which is likely to be considerably lower or higher at some places.
With an lowest average home price listed at $64,993.03, Cleveland topped the list as the most affordable place in the country to pick up a new house. About 35% of homes are owned while 47% is on rent and 18% is vacant. It is the country’s most affordable market, where you can easily find four-bed, two-bath homes with just $64, 993.
If you are looking for most affordable housing market in the world, Americans will no doubt worth your money and provide better quality of life. Here are the cheapest housing markets in all 50 states of America, based on report.
| Rank | Market | State | Avrage Price in US dollar |
|---|---|---|---|
| 1. | Cleveland | Ohio | 64,993.03 |
| 2. | Riverdale | Georgia | 68,206.85 |
| 3. | Park Forest | Illinois | 75,647.06 |
| 4. | Lake Wales | Florida | 82,330.00 |
| 5. | Lithonia | Georgia | 94,076.47 |
| 6. | Buffalo | New York | 97,288.00 |
| 7. | Waukegan | Illinois | 98,226.39 |
| 8. | Augusta | Georgia | 98,232.81 |
| 9. | Cheektowaga | New York | 101,475.00 |
| 10. | Parma | Ohio | 110,103.13 |
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