Home News Houses aren’t cheap on Staten Island, but where in the U.S. is real estate affordable?

Houses aren’t cheap on Staten Island, but where in the U.S. is real estate affordable?

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STATEN ISLAND, NY — Home prices have risen to exorbitant levels nationwide and even around the block since the coronavirus (COVID-19) pandemic began.

Staten Island is no exception, and home prices have skyrocketed over the past few years. Buying a home in Staten Island now may be harder than ever. The number of available homes for sale plummeted, Making affordable dream homes even more elusive.

However, there are several metropolitan areas where housing prices remain affordable, according to recent research. Stacker.com.

In June 2022, the median price of a US active listing home reached $450,000. This is a new record, up 17% from 2021, according to home listing data. From Realtor.com.

According to the Staten Island Association of Realtors (SIBOR), the median local sales price for Staten Island homes in the first six months of 2022 was $655,000.

This figure is 11.2% higher than the median average price of $589,000 for the first six months of 2021, 17% higher than 2020’s $560,000, and 20.2% higher than 2019’s $545,000. illustrated by SIBOR data.That’s what many islanders wonder how much money they need to make I can afford to buy a house here.And on Staten Island, late-July homebuyers continue to Scramble to find a home in a ruthless market.

But the market may be starting to normalize as the Federal Reserve raises interest rates and more people put their homes on the market, increasing supply, according to real estate experts. Also, many products have been discounted from the market, reducing demand.

Beyond New York City Stacker Recent listings data Realtor.com To find the cheapest metropolitan areas in the US to buy a home in June 2022. Analysis was limited to 250 metropolitan areas, including central cities and their surrounding suburbs.

Midwestern states like Illinois, Ohio and West Virginia, which once hosted thriving manufacturing communities, now top the list of major affordable cities.See Top 10 and becomes:

#Ten.champaign, illinois

  • Average listing price in June: $179,950
  • YoY: -4.0%

Champaign is best known as a college town surrounding the University of Illinois campus.

#9.Davenport, Iowa

  • Median Listing Price: $176,450
  • YoY: 17.7%

Davenport was founded on the Mississippi River in the 1830s. Today, Davenport’s historic hotels support tourism, with visitors and residents enjoying the Vander Beer Botanical Gardens and Freight House Farmers Market.

#8.Canton, Ohio

  • Median Listing Price: $174,950
  • YoY: -9.7%

In the canton highest crime rate In Ohio, research shows this is one reason real estate prices are low.

#7.Toledo, Ohio

  • Median Listing Price: $169,900
  • YoY: -2.9%

History of Toledo Old West End The neighborhood is home to late Victorian and Edwardian houses. There are now many homes below market prices compared to other cities in the country.

#6.Saginaw, Michigan

  • Median listing price: $164,900
  • YoY: 15.8%

walkable streets, several parks, low cost of livingThis makes Saginaw an attractive location for first-time homebuyers.

#Five.springfield, illinois

  • Median listing price: $164,900
  • YoY: 32.0%

The capital of Illinois, Springfield is known for its rich history and was the home of the 16th President, Abraham Lincoln.

#Four.Peoria, Illinois

  • Median Listing Price: $157,250
  • YoY: 33.9%

In 2021, people who bought a home in Peoria were able to get a moderately sized home at an affordable price. Stacker.com report.

#3.Charleston, West Virginia

  • Median listing price: $151,430
  • YoY: 8.2%

Charleston has a small-town feel with cafes, grocery stores, and restaurants.

#2.Youngstown, Ohio

  • Median listing price: $146,750
  • YoY: 8.5%

Youngstown was known as the center of steel production in the United States, but when the steel industry declined in the 1970s, residents were left with bleak job prospects.

#1.Terre Haute, Indiana

  • Median listing price: $143,950
  • YoY: 13.0%

Terre Haute is known as a college town, home to Indiana State University. Affordable real estate and many recreational activities are nearby.

“The Housing Squeeze”

With Staten Island real estate prices skyrocketing, many buyers are worried about finding their dream home. An ongoing series titled “The Housing Squeeze: Inside Staten Island’s Real Estate Surge” explores how prices will rise, who’s buying in this hot market, rising interest rates and what it takes Dive into a variety of topics, such as I can afford to buy a house in the Borough these days.

Series story:

‘Fear of Missing Out’: With buyers vying for homes in a ruthless market, is Staten Island in a real estate bubble?

Rising mortgage rates impact ‘unprecedented’ Staten Island housing market

Who buys Staten Island homes? From investors to newlyweds, despite the high prices.

SI real estate market: high demand and low inventory make it difficult to secure your dream home

New York rents skyrocket, Staten Island shortage of affordable apartments

Call for New York City Property Tax Reform: Are Staten Islanders Taxed Too Much Relative to Home Prices?

How much do you have to earn to buy a house on Staten Island?

How 3 couples are working to navigate the competitive Staten Island real estate market

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