3 of the Cheapest Places to Buy a House (That We Would Invest In)
Description
Housing affordability in America is the lowest it’s been in forty years. Every year, there are fewer and fewer affordable places to buy a house, and many of the cities that used to be affordable have become so popular that they’re now the pricey ones. Are there any affordable housing markets left, and if so, which ones should investors pay the most attention to? We did a new data analysis on American housing markets to bring the exact list to you today.
Austin Wolff, our own BiggerPockets market intelligence analyst, spent some time analyzing housing markets that not only have job, population, and wage growth but also have affordable home prices perfect for investors. Today, he’s sharing this new list, along with some of the least affordable housing markets that are nearly impossible to break into without millions of dollars.
But is America the only country suffering from a stubborn unaffordability crisis? Many of the top economies are also feeling the sting of high inflation, limited real wage growth, and strong home price appreciation. But are we doing better or worse than many of the top developed countries? We’re sharing those stats, too!
In This Episode We Cover
America’s affordable housing crisis explained, and whether it’s going to get better or worse
Most affordable housing markets with job, population, and income growth
Comparing American home prices vs. other top economies’ home prices
The least affordable real estate markets with the highest home-price-to-wage ratios
The single most affordable city in the United States that could be an excellent investing market
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Find an Investor-Friendly Agent in Your Area
These Are the 10 Most Affordable Markets To Invest in During 2024
Bankrate’s 2024 Home Affordability Report
Why Trump and Harris Aren’t Talking About the $1.8 Trillion Deficit
Austin's BiggerPockets Profile
Grab Dave’s Book, “Real Estate by the Numbers”
Jump to topic:
(00:00 ) Intro
(02:36 ) Why Affordability Matters
(04:59 ) Most Unaffordable Period Ever?
(08:00 ) How Does America Compare?
(12:23 ) Least Affordable Markets
(15:09 ) Most Affordable (Growing!) Markets
(24:35 ) Will Affordability Improve?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-262
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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