This Michigan City Tops The List Of Cheapest House Prices In America
My wife Lindsey and I moved back home to Grand Rapids, Michigan in October of 2021. Our goal after the new year was to buy a house, and if you know anyone in the same boat, you know it is really hard to find a place to call home.
One of the biggest issues we have run into are people coming in with all-cash offers, which give anyone trying to finance the purchase a snowball's chance in hell. Another issue that has stopped us from buying a house is the fact that some people are so desperate to find a house that they are willing to waive an inspection.
We really want to find a house in Grand Rapids, but if you're looking to find the cheapest place in the country to buy a house, you're going to have to head east on I-96 to Detroit.
A new report from LocalRecordsOffices.com says the cheapest city to purchase a home in the entire U.S. in 2022 is the city of Detroit.
How Much Does It Cost To Buy A House In Detroit, Michigan?
Detroit’s median home price is $32,600.
Why Is Detroit, Michigan The Cheapest Place To Buy A House In America?
According to LocalRecordsOffices.com, it’s no surprise that the lowest median home prices in the nation can be found in certain parts of Detroit. The city is basically in bankruptcy after losing more than half of its population over the past 50 years.
When the housing crisis arrived, Detroit was already in trouble, and home prices tumbled further. Even today, with the economy starting to recover in earnest, the city’s median home price is just $32,600.
Things To Do In Detroit, Michigan
The 10 Cheapest Cities in America to Buy a House in 2022
Number 1 - Detroit, Michigan - The city’s median home price is just $32,600.
Number 2 - Buffalo, New York - Buffalo has a number of neighborhoods where homes can be purchased for less than $40,000.
Number 3 - Toledo, Ohio - The average home price in Toledo is a modest $51,200, but in certain neighborhoods, you can find move-in-ready homes for less than $35,000.
Number 4 - Cleveland, Ohio - The median price is just under $50,000.
Number 5 - Tampa, Florida - In some neighborhoods, particularly in the Saint Petersburg area, homes sell for less than $40,000.
Number 6 - Augusta, Georgia - Some neighborhoods are as low as $38,500.
Number 7 - Philadelphia, Pennsylvania - there are plenty of neighborhoods with low median prices, reaching as low as $38,000.
Number 8 - Youngstown, Ohio - In the city of Youngstown, the median home price is less than $40,000, so there are plenty of neighborhoods where deals can be found.
Number 9 - Akron, Ohio - Homes in the city hit a median price of $55,600.
Number 10 - Lynchburg, Virginia - The cost of living in Lynchburg is 11.4% below the U.S average, according to 2021 housing reports.