Cheapest cities for family homes
Where can you buy about three or four homes -- family-size homes with four bedrooms and two baths -- for the price of one average home?
Or as many as thirty homes for the price of one in Silicon Valley?
These cities.
Coldwell Banker just released its annual Home Listing Report detailing the most expensive and affordable housing markets in the nation. But instead of merely looking at the median residential prices, it zeroes in on family-size homes (4BR/2BA) to get rid of the outliers at the extreme margins. You won't find Manhattan or Beverly Hills on the list of most expensive markets, because although they have plenty of small homes in Manhattan's case and plenty of mansions in Beverly Hills' case, they don't have enough family-size homes to qualify. Neither will you find Detroit on the list of cheapest markets, for the same reason: not enough family-size homes. (Click here to see America's most expensive cities for family-size homes.)
The average price for such a home is $295,317 nationally, but for the cities on this list, the average is as low as $64,993. In fact, only two of the 10 cheapest markets even crack six figures. Compare that with the 10 most expensive markets, where no average dips below seven figures. You could buy 30 family-size homes in Cleveland, America's cheapest market, for the price of a single comparably sized home in Silicon Valley's Los Altos, California, the most expensive market.
Below are America's cheapest cities for family-size homes (and click here to see the most expensive cities):
10. Utica, N.Y.
Average price for a 4BR/2BA home: $107,211
You could buy 2.75 homes in Utica for the same price as one 4BR/2BA home at the national average.
Or you could buy 18.3 homes for the price of a single 4BR/2BA home in Los Altos.
9. Cheektowaga, N.Y.
Average price for a 4BR/2BA home: $101,475
You could buy 2.90 homes in Cheektowaga for the same price as one 4BR/2BA home at the national average.
Or you could buy 19.35 homes for the price of a single 4BR/2BA home in Los Altos.
8. Augusta, Ga.
Average price for a 4BR/2BA home: $98,233
You could buy 3.01 homes in Augusta for the same price as one 4BR/2BA home at the national average.
Or you could buy 19.98 homes for the price of a single 4BR/2BA home in Los Altos.
7. Waukegan, Ill.
Average price for a 4BR/2BA home: $98,226
You could buy 3.01 homes in Waukegan for the same price as one 4BR/2BA home at the national average.
Or you could buy 19.99 homes for the price of a single 4BR/2BA home in Los Altos.
6. Buffalo, N.Y.
Average price for a 4BR/2BA home: $97,288
You could buy 3.04 homes in Buffalo for the same price as one 4BR/2BA home at the national average.
Or you could buy 20.18 homes for the price of a single 4BR/2BA home in Los Altos.
5. Lithonia, Ga.
Average price for a 4BR/2BA home: $94,076
You could buy 3.14 homes in Lithonia for the same price as one 4BR/2BA home at the national average.
Or you could buy 20.87 homes for the price of a single 4BR/2BA home in Los Altos.
4. Lake Wales, Fla.
Average price for a 4BR/2BA home: $82,330
You could buy 3.59 homes in Lake Wales for the same price as one 4BR/2BA home at the national average.
Or you could buy 23.84 homes for the price of a single 4BR/2BA home in Los Altos.
3. Park Forest, Ill.
Average price for a 4BR/2BA home: $75,647
You could buy 3.9 homes in Park Forest for the same price as one 4BR/2BA home at the national average.
Or you could buy 25.95 homes for the price of a single 4BR/2BA home in Los Altos.
2. Riverdale, Ga.
Average price for a 4BR/2BA home: $68,207
You could buy 4.33 homes in Riverdale for the same price as one 4BR/2BA home at the national average.
Or you could buy 28.78 homes for the price of a single 4BR/2BA home in Los Altos.
1. Cleveland, Ohio
Average price for a 4BR/2BA home: $64,993
You could buy 4.54 homes in Cleveland for the same price as one 4BR/2BA home at the national average.
Or you could buy 30.20 homes for the price of a single 4BR/2BA home in Los Altos.
Yahoo Homes' Spaces blog also has a list of the most expensive cities for family-size homes; click here or on the image directly below to see it:
And watch the video below for three cities with an especially low cost of living:
Also on Yahoo Homes:
• America's most dangerous cities, 2014
• $195 million listing breaks record for most expensive home
• 10 most expensive homes on the market in America