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June 28, 2017

The 10 Most Affordable Places to Live in U.S.

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The 10 Most Affordable Places to Live in U.S.

Home affordability is more than the price a buyer agrees to pay a seller. In a new study, SmartAsset factored in closing costs, real estate taxes, homeowner’s insurance, and mortgage rates for every county and city in the U.S. with a population of more than 5,000.

Read more: Yes, It's Still More Affordable to Buy Than Rent

SmartAsset pinpointed the most affordable cities and counties in its analysis by considering the total housing costs on an average house that accounted for the smallest proportion of the median income.

The following 10 places ranked tops on SmartAsset’s list for affordability (listed below with average annual mortgage payment):

  1. Kermit, Texas: $2,014
  2. Federal Heights, Colo.: $1,613
  3. Pecos, Texas: $2,104
  4. Zephyrhills South, Fla.: $1,775
  5. Shamokin, Pa.: $1,631
  6. Blackwell, Okla.: $2,425
  7. Cusseta-Chattahoochee County, Ga.: $3,064
  8. Hartford City, Ind.: $2,746
  9. Fussels Corner, Fla.: $2,319
  10. Lovington, N.M.: $4,160

Source: “Most Affordable Places in America,” SmartAsset (2017)