Housing affordability remains a top concern for prospective buyers, but some states still offer home prices within reach for buyers on a tighter budget. Redfin, a real estate data platform, put together a list of the cheapest states to buy a home in the current housing market. The most affordable state was Iowa, with a median sale price of $240,500, followed by Oklahoma and Ohio, which each have median sales prices of $251,400 and $259,100, respectively.
As a result, many people, especially coastal homebuyers, have been searching to move to more affordable places. During the pandemic, many people chose the Sun Belt, primarily cities in Florida, Arizona, and Texas. However, as the migration and housing booms fade, people have begun looking elsewhere for homes they can afford, especially in the Rust Belt.
Read more
