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August 26, 2016

The Most Affordable Town in Your State

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The Most Affordable Town in Your State

With housing prices inching up in many areas across the country, buyers may be wondering where they can catch a break. Well, it turns out that every state in the union has a spot.

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Business Insider recently examined Census data to find the most affordable small towns in each state. They looked at towns with populations between 1,000 and 10,000 where households spend no more than 30 percent of their annual income on housing costs. They also took care to include the average cost of three types of housing in their analysis: houses that are owned houses with a mortgage, houses that are owned without a mortgage, and rentals. They used an average of these results, weighted by the proportion of each type of home in the town.

Hawaii's Maunawili had the lowest percentage of homes that fell in the affordable range at 74.5 percent. West Virginia gets the prize for most affordable, as the state's small town of Boomer scored a whopping 100 percent.

Here's the list, in alphabetic order by state. Learn more about the individual towns highlighted here at Business Insider's report.

  • ALABAMA: Fayetteville, where 93 percent of the homes ranked as affordable
  • ALASKA: Healy (91.5%)
  • ARIZONA: Quartzsite (93.2%)
  • ARKANSAS: Tontitown (86.8%)
  • CALIFORNIA: Kettleman City (85.9%)
  • COLORADO: Rangely (86.2%)
  • CONNECTICUT: Weatogue (82.2%)
  • DELAWARE: North Star (81.3%)
  • FLORIDA: Yalaha (82.9%)
  • GEORGIA: Morgan (84.9%)
  • HAWAII: Maunawili (74.5%)
  • IDAHO: Shelley (85.2%)
  • ILLINOIS: Mitchell (91.1%)
  • INDIANA: Harlan (93%)
  • IOWA: New Sharon (92.7%)
  • KANSAS: Colwich (87.5%)
  • KENTUCKY: Reidland (93.4%)
  • LOUISIANA: Lawtell (97.8%)
  • MAINE: North Berwick (89.9%)
  • MARYLAND: Chevy Chase (84%)
  • MASSACHUSETTS: Brookfield (79.4%)
  • MICHIGAN: Gwinn (89.8%)
  • MINNESOTA: St. Augusta (87.6%)
  • MISSISSIPPI: Helena (89%)
  • MISSOURI: Stanberry (84.8%)
  • MONTANA: Colstrip (89%)
  • NEBRASKA: Scribner (89.3%)
  • NEVADA: Carlin (91.1%)
  • NEW HAMPSHIRE: Enfield (87.3%)
  • NEW JERSEY: Collings Lakes (78.7%)
  • NEW MEXICO: Waterflow (98.1%)
  • NEW YORK: Peru (89.7%)
  • NORTH CAROLINA: Icard (87.7%)
  • NORTH DAKOTA: Thompson (92%)
  • OHIO: Kalida (93.2%)
  • OKLAHOMA: Byng (90.4%)
  • OREGON: Pilot Rock (79.1%)
  • PENNSYLVANIA: Wesleyville (87.3%)
  • RHODE ISLAND: Carolina (82.3%)
  • SOUTH CAROLINA: Joanna (93.2%)
  • SOUTH DAKOTA: Clear Lake (88.6%)
  • TENNESSEE: Harrogate (83.9%)
  • TEXAS: Iraan (94.9%)
  • UTAH: Oljato-Monument Valley (90.5%)
  • VERMONT: Castleton (79.9%)
  • VIRGINIA: Ferrum (94.2%)
  • WASHINGTON: Burbank (82.9%)
  • WEST VIRGINIA: Boomer (100%)
  • WISCONSIN: Sherwood (86.6%)
  • WYOMING: Wright (92.2%)

Source: "The most affordable small town in every state," Business Insider (Mar. 2, 2015)