The housing market is crazy, and it just keeps getting more and more wild. A huge part of the so-called “American Dream” is to buy your own house, so for first-time homebuyers, this housing market is dashing a lot of dreams. I’ve never bought a house before, so with nothing to sell, I’m definitely waiting until the market crashes to purchase anything. It’s just too expensive.
Michigan is no exception when it comes to the prices of homes. The housing market here is very high, but as it turns out, one Michigan city is the No. 1 cheapest in the entire U.S. to purchase a home. That’s great news for Michiganders who want to buy a home but not leave the state. Of course, there are plenty of other factors to research, including the safety of the area you’re buying a home and how close it is to work, but hey, with the No. 1 cheapest housing market right here, it’s worth a look.
According to a new report from LocalRecordsOffices.com, the cheapest city to purchase a home in the entire U.S. in 2022 is the city of Detroit. “It’s no surprise that the lowest median home prices in the nation can be found in certain parts of Detroit,” they state in the study. “The city is basically in bankruptcy after losing more than half of its population over the past 50 years. When the housing crisis arrived, Detroit was already in trouble, and home prices tumbled further. Even today, with the economy starting to recover in earnest, the city’s median home price is just $32,600. While purchasing a home in Detroit takes a lot of research and a little luck, prices are on the upswing.”
Read on for the full list of the cheapest cities to purchase a home in 2022, according to LocalRecordsOffices.com, and get that wallet out.