Cheapest place to buy a house in America

Illinois is the state with the cheapest median home price in the US in 2022

Real estate company Studio City (California) used a database collected by Zillow nationwide to compile a list of the states with the cheapest housing prices in the US in 2022.

States with cheap housing

The Hill newspaper on April 27 quoted Studio City real estate broker Tony Mariotti as saying that home prices in the US started to rise in February, and the prospect of buying a home at a suitable price will be a distant dream for those who want to own a home in the near future. However, fortunately, there are still states where you can buy a cheap house, such as the Midwest.

Illinois is the cheapest state to buy a home, with an average home price of $133,750. If that’s not enough money, buyers can consider Galesburg, Illinois’ cheapest city, with a home price of $90,000. Meanwhile, Chicago, the state’s most expensive city, has a home price of $282,750. Ohio and Oklahoma are second and third on the list of affordable homes, with average prices of $155,000 and $175,063, respectively.

For under $200,000, buyers can also consider Michigan, Missouri, Indiana, Arkansas, West Virginia, and New York. Meanwhile, home prices in Alabama are around this number. According to KTLA 5, for those who love California, which has a large Vietnamese population, Zillow's data allows you to find the five cheapest cities in the entire state. With an average price under $350,000, buyers can consider Oildale, Porterville, Delano, Tulare, and Calexico. For comparison, home prices in Los Angeles, the same state, are around $1.1 million.

Which state should I retire in?

Another report also provides a list of states that are suitable for Americans to retire, based on home prices, cost of living, and taxes. According to Seniorly , a website for seniors in the US, Wyoming, Utah, Montana, and Idaho are in the top four spots on the list of the most financially friendly states for retirees. If those places seem cold, Americans can consider some warmer states that still rank high on their budget: Virginia (5th on the list), New Mexico (7th), Tennessee (10th), Georgia (12th), and South Carolina (15th).

Entrance to Grand Teton National Park in Wyoming

According to the U.S. Census Bureau, more than 200,000 people moved to other states to retire in 2022. The top states were Florida, North Carolina, Michigan, Arizona, and Georgia. Seniorly ’s report focused primarily on financial factors and did not take into account lifestyle or climate, so states that welcome many senior immigrants are not necessarily financially suitable.

Florida ranks 43rd on the list for affordability. It has high health care costs, and the average electric bill is about $130, compared to about $97 a month per household in Wyoming. And about 11% of Florida’s senior population lives in poverty, far higher than most other states.

Meanwhile, five of the 10 most affordable states, Wyoming, Idaho, Colorado, Delaware and Tennessee, are also among the most tax-friendly states, according to an analysis by Washington DC-based media company Kiplinger.

New homes built in Florida in May 2021

The most expensive states for American retirees are concentrated on the West and East coasts of the United States: Massachusetts, New York, Connecticut, New Jersey and California. The cost of living in these states is significantly higher than in other states, and only California is considered to have a consumer-friendly tax rate.

The states with the most expensive housing in the US

According to The Hill, citing data from the Studio City (California) real estate brokerage firm, a total of 8 states and the Washington, DC area are on the list of the most expensive homes in the country, with an average selling price of $400,000 or higher in 2022. While Oregon's home price is around $400,000, states like Washington, Nevada, Montana and the Washington, DC area trade for between $402,900 and $487,500. The top three are California, Colorado and Hawaii, with prices of $537,000, $537,125 and $805,775, respectively. In each state, home prices also vary depending on the geographic area. For example, the home price in Red Bluff, the cheapest city in California, is $320,000, while it took an average of $1.37 million to buy a home in San Jose last year.

Source link: https://thanhnien.vn/noi-re-nhat-de-mua-nha-o-my-185230429172302296.htm