These 5 States Have the Most Affordable Housing, According to a New Report
U.S. News & World Report’s latest rankings found the top five states with the most housing affordability.
The Wall Street Journal that the normally robust spring housing market was a “dud” this year, as economic and stock market uncertainty, coupled with mortgage rates hovering at press time, have kept buyers away.
The outlet notes that with more homes hitting the market, demand is not aligning with the rising inventory, and home prices are fluctuating (some areas are while others ).
But there are some states where you can still find affordable housing.
U.S. News & World Report‘s list looks at thousands of data points to rank each state on a variety of factors, including crime, economy, education, fiscal stability, health care, infrastructure, natural environment, and opportunity. Using that data, along with statistics from the and factoring in and other points, the outlet also ranked the best states for housing affordability.
Still, it’s worth noting that many of the top states for housing affordability were ranked near the bottom of the list in categories including poverty rate, food insecurity, and . But if you’re a remote worker looking for more land or the chance to buy a home at a low price, it could be worth checking out.
Here are the five best states for housing affordability, according to data used in U.S. News & World Report‘s “Best States” list.
1. Mississippi
Affordability Ranking: 2
Overall Best States Ranking: 48
According to , the average Mississippi home value is $189,710.
2. West Virginia
Affordability Ranking: 3
Overall Best States Ranking: 46
According to , the average West Virginia home value is $167,250.
3. Arkansas
Affordability Ranking: 1
Overall Best States Ranking: 44
According to , the average Arkansas home value is $217,895.
Related: Here Are the 10 Best States for Working Seniors
4. Alabama
Affordability Ranking: 8
Overall Best States Ranking: 45
According to , the average home price in Alabama is $281,400.
5. Kentucky
Affordability Ranking: 10
Overall Best States Ranking: 39
According to , the average home price in Kentucky is $263,400
You can find the full top 10 most affordable states list, .
for the full Best States list.
The Wall Street Journal that the normally robust spring housing market was a “dud” this year, as economic and stock market uncertainty, coupled with mortgage rates hovering at press time, have kept buyers away.
The outlet notes that with more homes hitting the market, demand is not aligning with the rising inventory, and home prices are fluctuating (some areas are while others ).
But there are some states where you can still find affordable housing.
