6 Affordable Cities for Homebuyers Seeking Safety and Stability in 2024

Karen Doyle

22 June 2024 at 8:01 am·3-min read

Housing prices are going up just about everywhere, making it challenging for homebuyers to find an affordable place to live. And housing costs alone shouldn’t be the sole reason for selecting a place to live – you want good job opportunities, too. Whether you’re looking to buy your first house, moving out of a starter home, or downsizing, you want safety and stability in your chosen community.

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By looking at both housing costs and job prospects, including the current unemployment rate, we found the most affordable cities for homebuyers seeking safety and stability in 2024.

6. Tampa, FL

Tampa stands apart in a state that is becoming known for its rising cost of living and increased housing costs. The cost of living is equal to the national average, and the average housing cost is 3% below what the average American pays, making Tampa a good deal for homebuyers. The unemployment rate in Tampa is 3.4%, slightly higher than some of the cities on this list, but still well under the 5% rate that economists consider to be ‘full employment.’

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5. Raleigh, NC

In Raleigh, the cost of living is 4% lower than the national average, and housing costs 2% less than the typical American pays. The Raleigh area is home to many technology companies, making high-paying jobs available for those looking for both reasonable housing costs and the stability of a solid paycheck. The unemployment rate for the Raleigh-Durham-Cary, North Carolina area is 3%.

Find Out: Cheapest Places To Buy a Home in Every State

SeanPavonePhoto / Getty Images/iStockphoto

4. Charleston, SC

The cost of housing in Charleston is 3% lower than the national average, and the overall cost of living is 2% less than average. Unemployment in Charleston is 2.3%, so plenty of jobs are available for those seeking stability in the area. Like many of the cities on this list, Charleston enjoys a mild climate and is a popular vacation destination.

3. Jacksonville, FL

Suppose you’re considering a move to Jacksonville. In that case, you’ll enjoy housing costs that are 6% lower than the national average, and an overall cost of living that beats the average by the same amount. Unemployment in Jacksonville is currently at 3%, indicating plenty of jobs available. When you get some time off, there are plenty of beaches to enjoy in Jacksonville.

2. Greenville, SC

Housing prices in Greenville are 28% lower than the national average, and the overall cost of living is 9% less. There are also plenty of available jobs, as the city has an unemployment rate of 2.6%. This combination makes Greenville, South Carolina, the second most affordable city on the list.

1. Oklahoma City, OK

Oklahoma City, OK, is the top city for job seekers, with high earnings growth and low unemployment – currently 3%. In addition, the cost of living is 16% lower than the national average. Specifically, the cost of housing is 29% lower than the average American pays. This combination of good employment prospects and a low housing cost makes Oklahoma City the #1 affordable city for homebuyers seeking safety and stability in 2024.

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This article originally appeared on GOBankingRates.com: 6 Affordable Cities for Homebuyers Seeking Safety and Stability in 2024

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