Do you finally have money saved up for a down-payment and you want to know how much house you can buy?
Or are you just trying to get an idea of how much you’ll need to save?
Well if you were already thinking $200,000 is a good number… we want to tell you that it IS a good number to shoot for.
Of course, that’s all depending on where you want to live.
The National Association of Realtors says that the median price for homes sold in the United States is just over $189,000. With prices so low, many are making their move towards home ownership.
But how much house does the median cost get you?
Just how much house you can buy for $200,0000? And what cities can you afford to live in?
Here are ten popular cities that will give you the best bang for your buck.
How Much House You Can Buy In 10 Cities
10. Phoenix, Arizona
The median price for houses in Phoenix is just over $200,000 but you can easily get a home for less than the average sum. A two-story, four bedroom home with three full bathrooms starts out at $199,000, and smaller houses costs even less. In addition, mobile homes are typically priced under $100,000 and can be a great option for consumers looking to get their feet wet in real estate.
9. Austin, Texas
Home prices in Austin are steadily rising. Recent data reveals a regional median sale price of $299,000. Although values are rising, it is still possible to snag a three bedroom home that has three bathrooms for $195,000. You can pay even less by electing to live in a less-desirable neighborhood, though such decision may not be wise if you have kids.
8. Boise, Idaho
The average price for a home in Boise is $195,000. There are several homes, however, that sale for $150,000. Young business professionals will take special delight in the city as a one bedroom home with one bathroom that is located in a nice neighborhood sells for around $140,000. Those willing to forgo the luxury of a traditional home in favor of mobile living can easily find a house that costs $50,000.
7. Jonesboro, Arkansas
Jonesboro, Arkansas is one of the cheapest places to live in the United States. On average, a home sells for $131,000, and the cost of living is that much more manageable. Families with $110,000 can easily purchase a 1,000 square foot home that has three bedrooms and two bathrooms. Buyers may even have a little money left over, depending on the neighborhood and structure of the property.
6. Grand Rapids, Michigan
Grand Rapids is named as one of the most affordable cities in which an investor can buy a home and for good reason. The median income in the area is $60,000, but the median home price is $100,000. Such statistics means that a family of four can purchase a three bedroom, two bathroom home for less than $130,000 and live comfortably. There are even sizable houses priced below $100,000.
5. Atlanta, Georgia
A four bedroom home with two bathrooms sells for about $130,000 in Atlanta. The city’s median price for houses is just under $185,000, which is $4,000 less than the national average. Atlanta is definitely the place to buy a home since real estate values are steadily rising and the region’s business sector is on the rise.
4. Jackson, Mississippi
Homes in Jackson typically sell for $150,000, which is much lower than the national average. The best news about the current real estate market is that things are looking up. Home values in Jackson are steadily rising, which means paying $43,000 for a four bedroom home with two bathrooms today could mean reaping more than one hundred percent of the home’s cost tomorrow.
3. Pittsburgh, Pennsylvania
Cities on the East coast are typically more expensive because of conveniences associated with the region. Where else can you live in one state and work in another all while commuting by train every day? Pittsburgh is one of few cities on the eastern side of the country where you can purchase decent living quarters for $200,000 or less. A two bedroom condo can sell for just over $150,000, and a three bedroom single family home can cost just under $200,000. Pittsburgh is a great place to live because of its evolving society that includes an incredible nightlife. The scene never gets old in the town that has something for everyone.
2. Las Vegas, Nevada
The city that never sleeps is also a region where home prices are incredibly low. Las Vegas was devastated during the 2009 economic crisis. Many residents lost their homes and, as a result, real estate prices dramatically fell. Now, with an increase in home buying, Vegas is the perfect place to find property that is less than $200,000. The asking price for two bedroom homes is around $180,000. Such cost is probably why Las Vegas is listed among the best places for real estate agents to thrive because of the state’s high turnover rate.
1. Aspen, Colorado
Believe it or not, it is possible to live in the city that attracts more celebrities than most others. Aspen is a hot spot during the Christmas season because of its snow. You can live in the beautiful city all year round for less than $200,000. A two bedroom condo with two bathrooms sells for $125,000; that’s almost $70,000 less than the nation’s average sale price.
Did you find this information useful? Click here for the Top 10 Foolproof Tips For Buying A Home!
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