U.S. Most affordable housing Market


by Jade Amethyst - Date: 2006-12-04 - Word Count: 317 Share This!

For a consumer, it is always disappointing to know that she could have bought something for a lower price, but would not be unable to do so because she already has purchased the product. The same sentiment also applies for buying houses.

There are many factors to consider before complaining. The location, for example, can significantly affect the price of a house. Two houses of the same size in two different cities may have different prices. For example, a house in Katonah N.Y that costs $1 million would have been priced for only $171,000 in Binghamton NY simply because Katonah is a wealthier city.

Coldwell Banker's annual Home Price Comparison Index (HPCI) takes these factors into consideration to reveal the real value of a house. This way, a buyer will know if she is getting what her money is worth. For almost 20 years, HPCI has been showing the most expensive and most affordable houses in all of United States and the district of Columbia.

The average house taken into account in the study consists of four bedrooms, two bathrooms, a family room and a two-car garage. Statistics reveal that the average cost of a house in the US is $423,950. The cheapest are found in North Dakota town of Minot, where the average cost is only $132,3000. The following is a list of the most affordable housing markets in the country:

Market Median home price:

Minot, N.D. $132,300 ; Killen, Texas $140,310 ; Arlington, Texas, $140,975 ; Grayling, Mich. $144,250 ; Topeka, Kan. $148,050 ; Canton, Ohio, $148,333 ; Tulsa, Okla., $148,575; Billings, Mont.. $150,141 ; Fort Worth, Texas $151,250 ; Cadillac, Mich.

$151,530.

On the other hand, houses in Beverly Hills California are the most expensive with prices averaging to $1.8 million. Of the top 10 most expensive US housing markets, nine are located in California. Only the Greenwich Conn. Market is not in the same state. The average cost of houses in this top ten list is $1.4 million.


Related Tags: property, investment, mortgage, company, realty, business, home, web, services, house, state, reale

Jade Amethyst
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