While home prices and mortgage rates remain high in much of the country, a May 19 WalletHub report identifies the most affordable U.S. cities, though it comes with some caveats.
The Miami-based personal finance website recently analyzed 300 cities using 10 key metrics, including home purchase and maintenance costs, taxes, insurance, vacancy rates, and cost of living expenses.
The results indicated that Flint, Michigan, was number one in terms of affordability, relative to local income. Detroit; Surprise and Yuma, Arizona; and Akron, Ohio, followed—all falling in the top five ranking. Arizona’s Mesa, Peoria, and Gilbert also ranked within the nation’s top 25 affordable home markets, as did Ohio’s Cleveland, Toledo, and Dayton….