Top US housing markets for affordability
With housing prices rising rapidly, many buyers are struggling to secure affordable properties. Due to rapid price appreciation, prices may rise rapidly and become out of reach of the buyer.
This is especially true for first time home buyers looking for affordability. Using Realtor.com data, trusted sources like CNBC and Business Insider take a closer look at the affordable housing markets for 2021. Here are the top five picks.
5. Bloomington, Illinois
About halfway between Chicago and St. Louis, Bloomington is the twin city of Normal, IL. Altogether, they have a combined population of about 130,000 people.
Bloomington rises to the top of 2021’s Best Markets for First Time Home Buyers. These include affordable home prices, relatively high inventory and a rapidly growing population of young homeowners.
4. Iowa City, Iowa
Home of the University of Iowa, Iowa City is a historic, peaceful destination. The municipality of approximately 75,000 is recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as a City of Literature.
In mid-2021, Realtor.com lists the median home price in Iowa City at approximately $275,000. That puts this attractive city well below the $385,000 nationwide average.
