November 7th, 2013
Cleveland has the most affordable housing market in the U.S.
According to a report from Coldwell Banker, the average list price in Cleveland – $63,729 for an average four-bedroom, two-bathroom home – tops the nation for affordability.
“Energized by a growing tech hub that effectively supports nearby renowned hospitals and research institutions, this Midwest city continues to reinvent itself through its diversified business sectors and strong sense of neighborhood communities,” stated Ed Dolinsky, president of Coldwell Banker Hunter Realty.
Cleveland was followed by Garfield Heights, Ohio, with an average list price of $66,075, and Flint, Mich., with an average list price of $84,437. Of the 25 most affordable markets, 60 percent were located in the Midwest. Buyers looking for a low-cost property will find a lot of options in this region.
On the other end of the spectrum, Malibu, Calif., had the most expensive market, with an average list price of $2,155,900. The four cities that followed were also in California, which dominated both the top five and top 10 most expensive markets.