HUNTSVILLE, Ala. — With the recent drop in mortgage rates, more Americans are ready to make the leap into homeownership. Some major cities offer more affordable home options than others.
According to a study by Forbes Advisor, Huntsville, made the top 10 list of best U.S. cities to buy an affordable home. The study analyzed 100 of the largest cities in the country based on several key metrics, including median home prices, property taxes, crime rates, and available housing inventory.
Huntsville scored 83.30 out of 100, showcasing its appeal for prospective homeowners. With a median home price of approximately $259,817, it ranks 26th lowest in home prices.
Forbes also notes that homeownership costs in Huntsville account for just 14.1% of the median household income, the best rate in the country. Additionally, the city has a low property tax rate of only 0.41% of the median home value, making it one of the most affordable cities for homeownership.
Safety is another strong point for Huntsville, which ranks 10th for the lowest crime rates among the analyzed cities.
Highlights of the Rocket City include the U.S. Space & Rocket Center, over 60 public parks, and the Von Braun Center.
Forbes ranked Pittsburgh, Pennsylvania, as the best U.S. city to buy an affordable home. In terms of home prices, Pittsburgh ranked 19th lowest, with median-priced homes running around $236,067, making the Steel City an appealing option for home shoppers on a tight budget.
The least affordable city for buying a house was Oakland, California, according to the Forbes Advisor study. Other California cities towards the bottom of the list include San Francisco, San Bernardino, Riverside, and Anaheim.
To see the full Forbes Advisor study on the best and worst cities in the U.S. to buy an affordable home, click here.
