Housing Market 2024: 3 Cities Where the Middle Class Is Searching for Affordability

Housing Market 2024: 3 Cities Where the Middle Class Is Searching for Affordability

As the housing market continues to soar, the middle class is facing increasing challenges in finding affordable housing. However, there are still a few areas where homebuyers can find value. Here are three cities where the middle class is expected to see some relief in 2024:

1. Cleveland, Ohio

Cleveland has been experiencing a resurgence in recent years, with new investment and development projects transforming the city’s downtown and surrounding neighborhoods. The cost of living is still relatively low compared to other major cities, and there is a good selection of affordable homes available. In 2024, the median home price in Cleveland is projected to be around $170,000, making it an attractive option for middle-class families.

2. Des Moines, Iowa

Des Moines is another city that has seen a surge in popularity in recent years. The city has a strong economy, and it is home to several major employers. The cost of living is also relatively low, and there is a wide range of housing options available. In 2024, the median home price in Des Moines is projected to be around $220,000, which is still affordable for many middle-class families.

3. Indianapolis, Indiana

Indianapolis is the largest city in Indiana, and it is a major economic and cultural center. The city has a relatively strong economy, and it is home to several major employers. The cost of living is also relatively low, and there is a wide range of housing options available. In 2024, the median home price in Indianapolis is projected to be around $230,000, which is affordable for many middle-class families. These three cities are just a few of the places where the middle class can find affordable housing in 2024. If you are looking for a place to buy a home, it is important to do your research and compare the costs of living in different areas. With a little planning, you can find a city where you can afford to buy a home and live a comfortable life.The Elusive American Dream: Homeownership Struggles for Middle-Class Families

The Elusive American Dream: Homeownership Struggles for Middle-Class Families

The American dream of owning a home is becoming increasingly unattainable for many middle-class families. A recent study by Creditnews Research reveals that rising interest rates, inflation, and other factors have significantly reduced the number of top housing markets where middle-class families can comfortably afford a home. “Housing affordability has deteriorated significantly since Covid,” said Sam Bourgi, senior analyst at Creditnews Research. “In 2019, middle-class households could afford to buy a typical home in 91 out of the 100 largest metro areas. By 2024, that number had plummeted to just 52.” Despite these challenges, there are still areas in the US where middle-class families can find affordable housing and a high quality of life. Here are a few examples: *

Dover, Delaware:

This small-town offers a vibrant atmosphere and is located near numerous museums, historic sites, and beaches. The cost of living is below the national average, and homes are more affordable than in other parts of the country. *

Wichita, Kansas:

Known for its diverse job market and affordability, Wichita attracts middle-class families looking for a comfortable living. Rent and home prices are significantly lower than in other major cities. *

Toledo, Ohio:

Home to baseball, art museums, and the glass and automotive industries, Toledo is also recognized as a budget-friendly city. It offers affordable housing options and a variety of entertainment and cultural attractions. While the American dream of homeownership remains elusive for some, it is still achievable in certain areas of the US. Middle-class families who are willing to explore less expensive markets can find affordable housing and enjoy a high quality of life, making the dream of owning a home a reality.

Housing Market 2024: 3 Cities Where the Middle Class Is Looking for Affordability

As the housing market continues to see record-high prices, the middle class is increasingly struggling to find affordable housing in major metropolitan areas. However, there are still a few cities where homes are relatively affordable for middle-income families.

1. Indianapolis, Indiana

Indianapolis has a median home price of $250,000, which is significantly lower than the national average. The city also has a strong economy and a growing job market. In addition, Indianapolis is home to a number of affordable neighborhoods, such as Fountain Square and Broad Ripple.

2. Columbus, Ohio

Columbus is another affordable city for middle-income families. The city’s median home price is $240,000. Columbus also has a strong economy and a growing tech industry. The city is home to a number of affordable neighborhoods, such as Clintonville and Grandview Heights.

3. Kansas City, Missouri

Kansas City is the third most affordable city on our list. The city’s median home price is $230,000. Kansas City has a strong economy and a growing healthcare industry. The city is home to a number of affordable neighborhoods, such as Brookside and Westport. If you’re a middle-income family looking for affordable housing, these three cities are worth considering. While homes in these cities may not be as affordable as they once were, they’re still relatively affordable compared to other major metropolitan areas.