Here are the ten ‘cheapest cities’ to purchase a house within the U.S.

Mortgage charges moved greater final week, probably irritating would-be dwelling patrons on the prowl for offers. For those that are in search of an reasonably priced dwelling, a brand new report reveals among the least expensive cities for actual property within the U.S.

The report from personal-finance web site Bankrate regarded on the high 10 least expensive cities to purchase a house, and ranked them so as of median record worth. The worth information was from, the corporate stated. ( is operated by News Corp subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which can also be a subsidiary of News Corp.)

First place for the most affordable metropolis to purchase a house goes to Youngstown, Ohio, the place the median record worth of a house was solely $149,900. The metropolis is near the Ohio-Pennsylvania border, about midway between Cleveland and Pittsburgh.

“While it has a history of steel production, the city’s downtown now houses start-up tech companies,” Bankrate added. The median family earnings in Youngstown is $31,020, in keeping with Bankrate.

Second on the record was Syracuse, N.Y. The median record worth of houses within the metropolis was $217,250.

The metropolis shouldn’t be solely dwelling to Syracuse University and has a college-town really feel, the report says, it’s additionally near nature — particularly to the Finger Lakes area.

The median family earnings in Syracuse is $40,076.

Third on the record was Scranton, Pa. The metropolis is more likely to evoke recollections of the favored sitcom “The Office” for some, nevertheless it’s additionally a really reasonably priced place to purchase a house, with a median record worth of $225,000.

Scranton was a “heavy coal-producing town” within the early twentieth century, nevertheless it’s presently going by a significant restoration and the inhabitants is rising, Bankrate stated. Plus, it’s solely a two-hour drive, or a three-hour bus experience to New York City.

The median family earnings in Scranton is $54,279.

Here are the remainder of the highest 10 “cheapest cities” on the record:

4. McAllen, Texas.

  • Median record worth: $270,000
  • Median family earnings: $57,359

5. Little Rock, Ark.

  • Median record worth: $298,873
  • Median family earnings: $53,565

6. Jackson, Miss.

  • Median record worth: $299,000
  • Median family earnings: $35,070

7. Indianapolis, Ind.

  • Median record worth: $300,000
  • Median family earnings: $58,479

8. Wichita, Kan.

  • Median record worth: $304,475
  • Median family earnings: $56,293

9. Columbia, S.C.

  • Median record worth: $308,900
  • Median family earnings: $47,524

10. Augusta, Ga.

  • Median record worth: $311,575
  • Median family earnings: $43,009

Homeownership has turn out to be extra unaffordable as mortgage charges have risen.

As of Friday, the 30-year fixed-rate mortgage was averaging round 6.8%, in keeping with Mortgage News Daily. That’s a pointy rise from the place charges have been a number of weeks in the past. The rise in charges is as a result of market’s expectation that the U.S. Federal Reserve will probably increase rates of interest to handle rising inflation.

And although home-price progress has slowed, it’s nonetheless elevated. The median worth of an current dwelling within the U.S. was $366,900 as of December, in keeping with the National Association of Realtors.

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