From the beginning of the COVID pandemic, people started looking for new places to live. As remote work became common, rural and underpopulated cities made the idea of moving attractive to many people. Low-interest rates combined with a once in a millennia event changed things and the way people chose their houses. Now that the market is correcting itself, these 10 cities could give you great housing and job opportunities.
As reported by the personal finance site Bankrate, this is a list of the top 10 cities, then organized by median home price. Pricing data come courtesy of Realtor.com
10. Augusta, Ga.
• Median list price: $311,575
• Median household income: $43,009
A favorite of many, the small-town charm and feel of its downtown district make this Western GA city a dream come true for many. With Fort Gordon and The Masters calling Augusta home, this is a very diverse city.
9. Columbia, S.C.
• Median list price: $308,900
• Median household income: $47,524
Just a few short hours east of Augusta, the city of Columbia is not only the Capital of the state, but it is also home to Fort Jackson. With rampant tech growth and proximity to the beaches, Columbia is drawing in younger homeowners daily.
8. Wichita, Kan.
• Median list price: $304,475
• Median household income: $56,293
While an incredibly rural state, Wichita is loaded with opportunities and things to do. The cyber security boom has found a second home in Wichita, and the future is bright for them.
7. Indianapolis, Ind.
• Median list price: $300,000
• Median household income: $58,479
As the only city on this list with an NFL team, the city of Indianapolis has a tremendous draw built into it. Add in the low energy costs and the top median income on the list, and they become incredibly attractive.
6. Jackson, Miss.
• Median list price: $299,000
• Median household income: $35,070
A historic town, Jackson is home to a diverse population, and they are determined to make the city more famous than its past or its colleges.
5. Little Rock, Ark.
• Median list price: $298,873
• Median household income: $53,565
Home to Bill Clinton, the city of Little Rock is opening its doors to people from all walks of life. With Wal*Mart’s growth, the city of Little Rock has been supplying a lot of subcontract work.
4. McAllen, Texas.
• Median list price: $270,000
• Median household income: $57,359
The city of McAllen is just north of the Mexican border. Far enough away to avoid the illegal immigration problems, yet still close enough for a tourism boom and authentic food, this city is just starting a rampant growth cycle.
3. Scranton, Pennsylvania
• Median list price: $225,000
• Median household income: $54,279
Over popularized by “The Office” tv show, the Electric City is a small mountain city, but with the uptick, in people because of the show they are becoming bigger than most would expect. An increase in industrial work and tech expansion has increased income, but median home prices have stayed within check.
2. Syracuse, New York.
• Median list price: $217,250
• Median household income: $40,076
Despite being bombarded by NY’s horrific taxation, Syracuse is on the list with their cheap homes. Featuring older but solid construction, many of these homes have more stories than your uncle Johnny, but they are worth listening to.
1. Youngstown, Ohio.
• Median list price: $149,900
• Median household income: $47,524
Located just 30 minutes north of East Palestine, OH this city has a lot of features for little cash. With the recent and unfortunate train derailment in East Palestine, the prices look to only go down from here, while income should remain steady.
With mortgage rates skyrocketing because of inflation, and a rather picked-over marketplace, prices are falling. Homes are now sitting on the market for months, not just hours. As of Feb. 19th, the average 30-year mortgage was coming in at 6.8% according to Mortgage News Daily.
Even compared to a few weeks prior, that is a sharp increase. With rates expected to continue to rise as a result of the Fed increasing rates to battle inflation, the market only looks bleaker and bleaker from here.