Yahoo Finance Fort Lauderdale suburbs top list with most $200K homes
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In a Realtor.com report that examined home list prices across the country, Fort Lauderdale and its neighboring suburb ranked best for affordability.
Detroit had the most available listings coming in below the $200,000 price range.
Upper New York state offers two locations where more than two-thirds of available listings are in the price range of a typical first-time homebuyer.
Fort Lauderdale, Fla. topped the list of U.S. cities with the most available homes under $200,000.
A new Realtor.com report noted that due to the COVID-19 pandemic, real estate prices skyrocketed nationwide and largely have yet to drop back down.
The average U.S. home is now valued nearly 50 percent higher than four years ago. Just a few years ago, the number of houses valued under $200,000 was about half the homes available in the United States. In 2023, that number had dropped to less than a quarter of homes available, the report said.
Realtor.com said it chose the $200,000 price range because its attractive to first-time homebuyers, retirees or anyone looking to purchase a home on a budget.
The report noted that researchers found “in certain corners of the country, the dream of an affordable home is thriving.”
Fort Lauderdale leads the pack with 17 out of every 20 homes listed coming in below $200,000.
Second on the list is the neighboring suburb, Lauderhill, where the median home price is $175,000.
“These towns are extra attractive because they’re in a popular retirement destination but more affordable than other nearby Florida cities,” Realtor.com wrote.
Akron, Ohio ranked third. Its median list price is $138,600 and had more than 200 homes under $200,000.
Detroit followed, with its median list price coming in at $90,000 and more than 1,000 listings, the most out of any city on the list. The homes are mostly “fixer-uppers” but that’s fairly standard as the city revitalizes, Realtor.com noted.
Fifth was Rochester, N.Y., followed by Niagara Falls, N.Y.
Albany, Ga. ranked seventh and had a median list price of $104,000 and had a 40 percent less expensive cost of living than Atlanta.
Lansing, Mich. ranked eighth with a median price of $143,950.
Rockford, Ill. and Cleveland were ranked ninth and tenth on the list of top places to find an affordable home in the U.S.
While the prices are still some of the most affordable places to buy a home across the country, the report noted that potential buyers may want to hurry, these prices won’t last forever.
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