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Yahoo
6 days ago
- Business
- Yahoo
10 Affordable Cities To Live in With Potential ‘Million-Dollar Markets'
Median home prices reached $403,700 in the first quarter of 2025, according to the National Association of Realtors. While analysts expect modest growth this year and next due to soft demand, some markets are poised to see major surges over the longer term. Find Out: Consider This: A recent analysis of America's 100 largest metropolitan areas identified the most affordable markets where median prices could hit $1 million by 2033. The forecasts are based on growth from 2014 to 2019, which economists applied to 2023 prices to make their predictions. GOBankingRates has listed the cities, their current median sale prices (according to and the price predictions below. To help you put those figures in context, the list includes cost-of-living and median income data from Payscale and the U.S. Census, respectively. Most of these cities are in the Western U.S., but cities in Hawaii and Massachusetts also made the list. Be Aware: Median sale price: $498,500 2028 price forecast: $735,026 2033 price forecast: $1,162,910 analysis found that Boise home prices grew 58.2% from 2014 to 2019. The economists used that figure to forecast growth for five- and 10-year periods beginning with 2023. Note: Median household income is $81,308, according to the U.S. Census, using 2023 dollars. That's less than 1% above the national median of $80,613. But Paysale estimated Boise's cost of living to be 4% higher than the national average. Median sale price: $522,200 2028 price forecast: $724,614 2033 price forecast: $1,064,147 Sacramento home prices grew 46.9% from 2014 to 2019 and stood at $493,414 in 2023, the base year for projections. They're already up nearly 6% since then. The current sale price of $522,200 will stretch the budget of a family earning a median household income of $74,925, especially considering that the cost of living is 10% higher than the national average. Median sale price: $542,300 2028 price forecast: $726,105 2033 price forecast: $1,051,838 Prices are already up 8% since 2023, which is consistent with 44.9% growth from 2014 to 2019. While median household income in Portland is well above average at $88,792, so is the cost of living, which is 19% higher than average. Median sale price: $460,000 2028 price forecast: $680,980 2033 price forecast: $1,019,929 If the 2023-to-2028 increase in Colorado Springs home prices matches the 49.8% increase from 2014 to 2019, what is now only a marginally affordable market could be out of reach of many, if not most, current residents. Median household income is just over $83,000, and the cost of living is 5% higher than average. Median sale price: $430,000 2028 price forecast: $915,467 2033 price forecast: $1,446,731 The Stockton real estate market saw the greatest 2014-2019 increase of any city on this list: a whopping 58%. Home prices are already well above average, and the overall cost of living is 19% higher than average. That makes it difficult for a household earning the city's median income, $76,851, to buy. And it's only going to get harder, with prices expected to more than double by 2028 and hit $1,446,731 by 2033. Median sale price: $620,000 2028 price forecast: $842,932 2033 price forecast: $1,296,676 Denver is the second-fastest-growing market on this list, with 53.8% growth between 2014 and 2019, and about 109% growth expected from now through 2033. That could make real estate a tough sell for families with income at or below the $91,681 median. However, if you can swing it and overall living costs that are 9% above average, a Denver home purchase could be a great long-term investment. Median sale price: $485,000 2028 price forecast: $784,301 2033 price forecast: $1,103,325 Sacramento is one of the more affordable cities listed here, with median home prices well below $500,000 and median household income of $83,753, although the cost of living is 25% higher. Home prices grew 40.7% from 2014 to 2019. At that rate, they'll hit a median $1,103,325 by 2033. Median sale price: $799,000 2028 price forecast: $786,000 2033 price forecast: $991,804 Boston home prices increased just 26.2% from 2014 to 2019, and they could fall over the next few years before heading upward again. That's likely good news for Boston renters who are already hard-pressed to buy on a median income of $94,755. It's not just home prices that are high — the overall cost of living is 46% higher than the national average. Median sale price: $610,000 2028 price forecast: $883,931 2033 price forecast: $1,143,830 Hawaii has a well-deserved reputation for high home prices, but Honolulu is a pocket of relative affordability. Living costs are 85% higher than the national average, in large part because of home prices. But with a median household income of $104,264, earnings are also well above average. Honolulu home prices grew a robust 29.4% from 2014 to 2019, and they're poised to reach over $1.14 million by 2033. Median sale price: $900,000 2028 price forecast: $1,015,739 2033 price forecast: $1,485,885 The priciest home market on list saw 46.3% growth from 2014 to 2019, and if the projections are correct, it'll be the first to reach $1 million. The cost of living here is 46% above average due primarily to housing. But median household income is 51% above average — $121,984. More From GOBankingRates 4 Affordable Car Brands You Won't Regret Buying in 2025 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years This article originally appeared on 10 Affordable Cities To Live in With Potential 'Million-Dollar Markets'
Yahoo
7 days ago
- Business
- Yahoo
15 cities where it's more affordable to buy a home
Buying a house is stressful, even without factoring in high prices and competition. However, there are a few places with more affordable homes, according to a WalletHub report. It found Flint, Michigan, is the most affordable place to buy a home. If browsing home prices in Seattle or San Francisco feels like an exercise in unattainability, consider expanding your search outside the West Coast. Using a combination of factors, including median house prices, annual household incomes, real-estate taxes, and cost of living, WalletHub created a list of the most affordable cities to buy a home. Many of the cities are in the Rust Belt, which has struggled with economic recovery but has seen revitalization more recently. Others are in literal hotspots, like regions of Arizona that are experiencing booming population growth. For each city in the top 15, BI identified the population using 2024 US Census estimates, median household income from 2023 Census data, and median house prices from April 2025 listings. Here are 15 cities where the housing prices aren't as sky-high as in other regions. 15. Montgomery, Alabama Population: 195,818 Median home price: $195,000 Median household income: $55,687 A little about Montgomery: Known as the birthplace of the Civil Rights Movement, Montgomery has a wealth of museums, monuments, and sites dedicated to this chapter in its history. Maxwell Gunter Air Force Base is a major employer, as is the state government. Hyundai also has a manufacturing plant where the Tucson, Santa Fe, and other vehicles are assembled. Parts of this capital city have views of the Alabama River. Riverfront Park is a popular destination, especially during the hot, humid summers. 14. Toledo, Ohio Population: 265,638 Median home price: $135,000 Median household income: $47,532 A little about Toledo: The city has deep ties to the automotive industry and is sometimes called "The Glass City" thanks to its history of glass manufacturing, hence the name of its riverwalk. Both the Toledo Zoo and the Toledo Museum of Art are popular attractions. The landscape isn't all industrial, either. The Maumee River travels through Toledo before feeding into Lake Erie. Over 200 miles of trails are found in the city, including some that double as cross-country ski areas during the snowy winters. 13. Warren, Michigan Population: 137,686 Median home price: $187,400 Median household income: $63,741 A little about Warren: About 15 miles north of Detroit, Warren is one of the state's most populous cities. It's the location of the Detroit Arsenal, the first facility in the country built to mass produce tanks. The Army's Tank-Automotive and Armaments Command is still headquartered there. GM's Global Technical Center is another major employer. Warren lacks much of a downtown. It's something the city's leaders are hoping to change by bringing in restaurants and shops to the area around the city hall, CBS News reported in January. It's slowly becoming more diverse as well, overcoming years of discriminatory housing practices, the Michigan Chronicle reported in 2019. 12. Cleveland, Ohio Population: 365,379 Median home price: $144,900 Median household income: $39,187 A little about Cleveland: Notorious for catching fire several times, most notably in 1969, the Cuyahoga River twists through Cleveland before reaching Lake Erie. The waterway is now much cleaner than in the manufacturing city's past. The Flats also sit on the river. The former industrial area now hosts bars and restaurants that provide lively nightlife, especially for the city's younger demographic. At the center of the city's downtown is the Public Square, a 10-acre park with a splash pad in the summer and ice rink in the winter. When residents aren't hanging out, they might be working at the Cleveland Clinic, a medical center with over 50,000 employees. American Greetings, Great Lakes Brewing, and Sherwin-Williams are also based there. 11. North Las Vegas, Nevada Population: 294,034 Median home price: $425,500 Median household income: $76,772 A little about North Las Vegas: Though not far from the frenetic energy of the Strip, North Las Vegas is a bit more sedate. It shares the same desert climate, though. It's not unusual for temperatures to reach triple digits in the summer months. Both Amazon and Sephora have distribution centers in the area. They're located near the Las Vegas Motor Speedway, which holds racing events for NASCAR, IndyCar, and others. Events like an annual mariachi competition celebrate the city's diverse population, while North 5th brews up local beer. 10. Indianapolis, Indiana Population: 891,484 Median home price: $259,900 Median household income: $62,99 A little about Indianapolis: Indiana's capital is perhaps best known for the Indy 500. The annual car race takes place in an enclave town, Speedway. The city's sports fans also cheer on basketball teams the Pacers and the Fever. Other leisurely ways to spend time include walking or biking the 10-mile Cultural Trail, which connects White River State Park, museums, and art pieces like the Talking Wall. Pharmaceutical giant Eli Lilly started in Indianapolis and remains headquartered there today. 9. Fort Wayne, Indiana Population: 273,203 Median home price: $289,900 Median household income: $60,293 A little about Fort Wayne: Less than 20 miles from the Ohio border, Fort Wayne is a Midwestern city that experiences all four seasons. Healthcare, manufacturing, and logistics are some of its major industries. Fort Wayne residents can enjoy dozens of parks throughout the city, including some with a water view. A trio of rivers flows through the city, and St. Marys' riverfront has green spaces, museums, and boat rentals. 8. Augusta, Georgia Population: 201,737 Median home price: $224,900 Median household income: $53,134 A little about Augusta: The Masters golf tournament calls Augusta home, so it's perhaps not surprising that Textron has its E‑Z‑GO golf cart headquarters there. Coca-Cola, Starbucks, and American Concrete all have a presence in the city as well. This Southern city has long, hot summers, with an average of 80 days over 90 degrees, according to the National Weather Service. When the weather is nice, residents who like to putt can enjoy numerous public golf courses in the area. 7. Memphis, Tennessee Population: 610,919 Median home price: $219,900 Median household income: $51,211 A little about Memphis: It's nearly impossible to separate Memphis from its musical past, due to the presence of Sun Studio. B.B. King, Johnny Cash, Elvis Presley, and many others recorded there. Elvis' Graceland home remains a draw for his enthusiastic fans. There are still countless venues in the city to catch live music. For those who don't make their living performing, several Fortune 500 companies are headquartered in Memphis, including FedEx, AutoZone, and International Paper. Elon Musk has also said his AI startup will build the world's largest supercomputer in the city. 6. Yuma, Arizona Population: 103,559 Median home price: $353,700 Median household income: $60,417 A little about Yuma: When you enjoy crisp broccoli or lettuce during the chilly months of the year, chances are the leafy greens came from the country's "Winter Salad Bowl." Yuma grows 90% of these vegetables between November and March, and agriculture accounts for 20% of jobs in the southwestern Arizona county, according to the University of Arizona. That's also the season for snowbirds who flock to the desert climate from the north, swelling the city's population. Summer temperatures can reach an average high of 106 degrees, so residents grab paddleboards or kayaks in the Colorado River. 5. Akron, Ohio Population: 189,664 Median home price: $145,000 Median household income: $48,544 A little about Akron: When Goodyear, B.F. Goodrich, Firestone, and General Tire all set up shop in the late 1800s and early 1900s, the industry would eventually lead to Akron's "Rubber Capital of the World" nickname. Now, only Goodyear's headquarters remain in the city, which is about 40 miles south of Cleveland. The tire companies' legacies remain in park names like Firestone and Goodyear Heights. Some of these scenic spots have ideal hills for sledding on snowy days. Some residents have been less eager to embrace a newer industry, bitcoin mining, with some worrying how the energy-heavy operations will affect electricity rates and the environment. 4. Surprise, Arizona Population: 167,564 Median home price: $459,900 Median household income: $93,371 A little about Surprise: About 45 minutes from Phoenix, you'll find Surprise. The suburban city is proud of its sports facilities, which include a tennis and racquet complex; golf courses; and Surprise Stadium, which hosts MLB spring training each year. The founder, Flora Mae Statler, reportedly gave Surprise its unusual name because she didn't think it would amount to much. However, it's had explosive growth over the past two decades, going from just under 31,000 people in 2000 to over 167,564 by 2024. Arizona is one of the US' fastest-growing states. Its lower home prices are likely one of the reasons over 630,000 Californians have moved there over the past decade, the Phoenix Business Journal reported last year. Surprise is trying to expand while also preserving some of the desert ecosystem, The Arizona Republic reported in February. 3. Pittsburgh, Pennsylvania Population: 307,668 Median home price: $269,000 Median household income: $64,137 A little about Pittsburgh: The Steel City once owed much of its livelihood to manufacturing and industry. Its location, where the Monongahela and Allegheny converge to form the Ohio, shaped its identity as the "Gateway to the West." The waterways provided a route to ship timber, coal, and other resources to other parts of the country. You can catch a great view of them from Mount Washington. As the steel industry declined, healthcare grew, and the University of Pittsburgh Medical Center is now a major employer. A number of tech companies, including Duolingo, are headquartered in the city. 2. Detroit, Michigan Population: 645,705 Median home price: $109,000 Median household income: $39,575 A little about Detroit: Detroit's history as both the Motor City and the home of Motown music continues to impact its reputation for being cool yet burdened with economic challenges, resulting from the loss of much of the automotive industry. Rocket Mortgage, General Motors, and Little Caesars are all headquartered in Detroit. The Detroit River divides the city from Windsor, Canada, and the area provides a crucial link between the two countries. It's the site of a picturesque island park, Belle Isle, which invites plenty of visitors in the warmer months. As parts of the city rebound, it's become known as a foodie destination, thanks to its diverse selection of cuisines. 1. Flint, Michigan Population: 79,735 Median home price: $70,000 Median household income: $36,194 A little about Flint: Flint is synonyms with its water crisis. When the city began sourcing from the Flint River, the distribution pipes started corroding and leaching lead into the water supply. It's been over a decade since the switch, and some pipes still need replacing and people remain sick from years of drinking contaminated water, The Guardian reported last year. At the time, the City of Flint said in a statement that it had significantly upgraded its monitoring and infrastructure. Though its water meets federal standards for lead levels, they stated that "no amount of lead in water is safe." Like Detroit, which is less than 70 miles southeast, Flint relied heavily on the auto industry in the past. In the summer, residents and visitors celebrate this history with the "Back to the Bricks" classic car event. Today, fast-food chains YaYa's Chicken and Big John Steak & Onion both have ties to the city. Sources: Population and income data are from the US Census, and median home prices are from Read the original article on Business Insider
Yahoo
27-05-2025
- Business
- Yahoo
Top 10 cities for recent college grads in 2025
(NewsNation) — The job market is tough for recent college grads, but cities like Austin and Raleigh still offer a promising mix of affordability and opportunity, a new report shows. analyzed more than 300 cities and towns to find the most 'grad-friendly' rental markets in 2025, weighing factors like housing affordability, rental availability and job opportunities. Austin, Texas, topped the list for the second year in a row thanks to its low rent-to-income ratio (18.9%) and high share of jobs (29.4%) that require a bachelor's degree but no prior experience. Recent college grads face toughest job market in years Raleigh, North Carolina, and Overland Park, Kansas, ranked second and third, followed by Minneapolis, Minnesota, and St. Louis, Missouri. 'These markets aren't just affordable areas with relatively more abundant rental options, they're full of energy, opportunity, and a sense of community, everything a recent grad could want,' Danielle Hale, chief economist at said in a statement. On average, graduates in the top 10 markets spend just 21.5% of their income on rent, well below the commonly accepted 30% affordability benchmark. This year's top cities also have a lower average unemployment rate (3.8%) compared to the 50 largest metros (4.1%). Cost of living and job opportunities will likely be top priorities for the Class of 2025, which is entering the rockiest job market since 2021. Here's top 10 list for 2025 along with some of the key metrics the report considered. Median Rent: $1,504 Rent-to-Income Ratio: 18.9% Rental Vacancy Rate: 8.2% College Grad Friendly Occupations: 29.4% Forecasted unemployment rate: 3.6% Median Rent: $1,524 Rent-to-Income Ratio: 20.0% Rental Vacancy Rate: 9.0% College Grad Friendly Occupations: 30.4% Forecasted unemployment rate: 3.3% Median Rent: $1,351 Rent-to-Income Ratio: 20.6% Rental Vacancy Rate: 9.2% College Grad Friendly Occupations: 25.5% Forecasted unemployment rate: 4.2% Median Rent: $1,528 Rent-to-Income Ratio: 19.7% Rental Vacancy Rate: 5.2% College Grad Friendly Occupations: 27.3% Forecasted unemployment rate: 3.7% Which cities were ranked happiest in the world? Median Rent: $1,335 Rent-to-Income Ratio: 20.8% Rental Vacancy Rate: 8.0% College Grad Friendly Occupations: 25.1% Forecasted unemployment rate: 4.0% Median Rent: $1,502 Rent-to-Income Ratio: 23.2% Rental Vacancy Rate: 8.2% College Grad Friendly Occupations: 25.3% Forecasted unemployment rate: 3.3% Median Rent: $1,461 Rent-to-Income Ratio: 22.3% Rental Vacancy Rate: 8.7% College Grad Friendly Occupations: 24.3% Forecasted unemployment rate: 4.1% Median Rent: $1,530 Rent-to-Income Ratio: 22.5% Rental Vacancy Rate: 7.9% College Grad Friendly Occupations: 23.0% Forecasted unemployment rate: 3.7% Median Rent: $1,472 Rent-to-Income Ratio: 22.4% Rental Vacancy Rate: 8.9% College Grad Friendly Occupations: 24.4% Forecasted unemployment rate: 4.0% Median Rent: $1,604 Rent-to-Income Ratio: 24.1% Rental Vacancy Rate: 9.3% College Grad Friendly Occupations: 24.7% Forecasted unemployment rate: 4.1% For more on methodology, read here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-05-2025
- Business
- Yahoo
These cities are prime areas to rent for recent college graduates
Many college graduates are figuring out where to live as they finish their time in academia, and renting is a common route for them to take. In its newly released "Top Rental Markets for Recent College Grads" report, looked at more than 300 places across the U.S., identifying the most "grad-friendly" cities that could serve them best as they embark on the newest chapter in their lives. The real estate marketplace took information such as the rent-to-income ratio, the time it takes to get to work, social amenities and projected unemployment rates into account when doing the formulation. These States See The Most All-cash Home Purchases These are cities at the top of ranking of rental markets for recent college graduates. Austin's rent-to-income ratio and proportion of entry-level jobs that grads could land, 18.9% and 29.4%, respectively, helped it earn the No. 1 spot, the report said. The city also held the position last year. Read On The Fox Business App More than 30% of jobs in the Raleigh area require a bachelor's degree but no previous experience, more than any other city, according to The city is the capital of the Tar Heel State. Overland Park is located just south of Kansas City. It boasts a rental vacancy rate of 9.2%, per the report. The average time it takes to get to work there was also comparatively low, at 22 minutes. pegged Minneapolis' share of recent college graduates – people aged 25 to 29 with a college degree – at 6.3%, higher than any of the other states in the top 10. People in the city typically use 19.7% of their income on rent. St. Louis, famous for its Gateway Arch, has seen its number of job openings rise 14% compared to the pre-COVID era, reported, citing the Indeed Hiring Index. The area has 8% of its rentable housing available for occupancy. Behind those markets, dubbed Richmond, Virginia, as No. 6, Pittsburgh as No. 7, Scottsdale, Arizona, as No. 8, Richardson, Texas, as No. 9 and Atlanta as No. 10 for college graduates. Looking To Purchase A Home And Live In These Areas? They Require The Highest Income "This year's rankings reflect a rental landscape shaped by falling rents and potentially shifting job markets," chief economist Danielle Hale said in a statement. "These markets aren't just affordable areas with relatively more abundant rental options, they're full of energy, opportunity, and a sense of community, everything a recent grad could want." Median rent cost $1,699 nationwide in April, according to a separate mid-May report from Studios, one-bedroom and two-bedroom units all saw the median cost of rent go down year over year last month, with studios and one-bedrooms posting a 1.9% decline; for two-bedrooms, the drop was 1.7%. America's Housing Crisis: Ceo Says There Is A Way To Solve ItOriginal article source: These cities are prime areas to rent for recent college graduates
Time Business News
26-05-2025
- Business
- Time Business News
Meta Title: When Will Home Prices Drop In 2025?
So… when are home prices finally going to come down? If you've been sitting on the edge of the housing market like it's a hot yoga mat, sweaty, stressed, and hoping for some relief, you're not alone. Every other headline seems to toggle between 'Housing crash incoming!' and 'Home prices soar again!' It's exhausting. You want a straight answer. Unfortunately, the market is more mood ring than math problem. But let's get into it, because while nobody has a crystal ball (and if they do, they're not lending it out), there are some signs worth watching in 2025. It's the real estate version of 'the call is coming from inside the house.' The reason prices haven't dropped much? We're still dealing with: Low housing inventory. There just aren't enough homes for sale. That pushes prices up. High mortgage rates. You'd think rates hovering around 7% would scare off buyers, and they do, to an extent, but they also freeze sellers. People who locked in a 3% rate in 2020 don't want to give that up. Sticky inflation. While inflation has cooled a bit, the aftershocks still echo through construction costs, materials, and labor. Put simply, it's like musical chairs, except there are fewer chairs, and some people are just standing there guarding theirs. Probably not in a big way. Sorry. If you were hoping for a 2008-style freefall, that's not on the menu. According to Housing Forecast, prices are expected to remain 'relatively flat' in 2025, with some areas seeing small declines and others continuing to edge upward. We're talking low single digits. Not exactly clearance-rack season. And that's the national picture. Real estate is wildly local. In some cities, prices are cooling. In others? Still climbing like a cat on curtains. Look toward overheated markets. Some of the pandemic-era darlings, Austin, Boise, Phoenix, are already experiencing some correction. According to Redfin, these metros have seen year-over-year declines of around 3–5%. Nothing dramatic, but enough to make a difference if you've been priced out before. Midwestern and Southern markets might also see softening, particularly in areas with a glut of new construction or slowing job growth. But again, tiny dips, not a nosedive. Hot job markets like New York, Los Angeles, and parts of the Bay Area aren't dropping much. Yes, prices in those areas have plateaued or inched down a bit, but demand remains strong. And supply? Still laughably low. Also, cities with high rental demand (looking at you, Miami and Nashville) are holding steady. Which brings us to… While would-be buyers twiddle their thumbs and curse interest rates, rental demand is doing just fine, thanks. Many potential homeowners are staying renters longer, which means investors are still in the game, and so are property managers. And honestly? As Swift RPM states, a good property manager can be the difference between a profitable rental and one that feels like it's slowly devouring your soul. If you're buying now with the intention to rent and wait out the market, make sure you're working with someone who knows the ropes. Especially if you're not planning to fix the toilet at 2 a.m. Here's the thing. A few factors could shift the pricing story in 2025: Interest rate cuts. If the Fed lowers rates significantly (and that's a big if), more buyers might jump in. More demand equals higher prices. Job market changes. A slowdown could reduce demand for housing. But that also means sellers might hold tight, which doesn't help prices drop. Increased housing supply. If builders go full throttle and local governments ease zoning, we could see more homes on the market. But that's a long-term fix, not a 2025 thing. I mean… maybe. But also, maybe not. Waiting for prices to fall might leave you sitting on the sidelines forever. And if mortgage rates drop next year, prices might climb right back up. The housing market loves a rebound moment. Instead of trying to time it perfectly, focus on what makes sense for you . If you find a home you love, can afford it, and plan to stay a while? Go for it. If not, renting isn't a dirty word. In fact, it's a smart play for a lot of people right now, especially if you're in a city where rent is cheaper than a mortgage. Just make sure your landlord works with a decent property manager. Trust me, the difference between 'my sink was fixed in an hour' and 'I had to YouTube it and now my bathroom is a war zone' is huge . If you're waiting for a dramatic drop in home prices in 2025, you may be waiting a while. There might be mild cooling in some places. A few price cuts here and there. But a true buyer's market? That's not on the immediate horizon. What we are likely to see is a slow, uneven rebalancing. Some neighborhoods will ease up. Some won't. Mortgage rates might drop a bit. Inventory may rise a smidge. But overall, the era of dirt-cheap homes? That ship sailed and took the dock with it. And hey, if you're still unsure about your next move, buying, renting, investing, talk to someone who knows the lay of the land. A good property manager can help you understand the local market, crunch the numbers, and figure out if now's the right time… or if you should just keep your savings parked and your Zillow alerts on snooze. TIME BUSINESS NEWS
