Most and least affordable U.S. cities for buying a home
Buying a house can be a daunting and expensive process, especially with the rising home sales prices in recent years. However, there are still affordable options available for those willing to explore different locations.
Several factors contribute to the overall cost of buying a home in the United States, including the initial price of the property, ongoing maintenance expenses, tax rates, and more. The median home sales price has seen a significant increase, rising from $313,000 in the first quarter of 2019 to $416,900 in the same period of 2025. Additionally, interest rates have also surged, with the average 30-year fixed mortgage rate now hovering around 7%, up from a record low of 2.65% in January 2021.
Despite these challenges, there are metropolitan areas where homeownership may still be achievable for prospective buyers. A recent study by WalletHub highlighted the most and least affordable cities for homebuyers based on various metrics such as home prices, maintenance costs, homeowner’s insurance expenses, cost of living, real estate tax rates, and home inventory.
Most Affordable Cities
Flint, Michigan, topped WalletHub’s list as the most affordable city for homebuyers, boasting a low cost of living and affordable home prices relative to residents’ incomes. With a median home price of $61 per square foot, Flint offers great value for buyers. Additionally, nearly 21% of houses in the city are vacant, providing ample options for prospective homeowners.
Detroit, Michigan, secured the second spot on the list of most affordable cities, with relatively low median house prices and over 22% of housing inventory being vacant.
Pittsburgh, Pennsylvania, ranked third in affordability, offering homebuyers a better value compared to renting in the city.
Least Affordable Cities
On the other end of the spectrum, Santa Barbara, California, emerged as the least affordable city for homebuyers due to its high housing costs and other contributing factors. Similarly, Santa Monica and Berkeley, also in California, ranked poorly in terms of housing affordability. Berkeley, in particular, has the lowest rent-to-price ratio among the 300 cities analyzed, making it more cost-effective to rent than to buy a home.
For a detailed breakdown of the 300 most affordable cities for homebuyers, you can refer to the full rankings provided by WalletHub here.
