U.S. Most affordable housing Market
By admin at 14 November, 2009, 7:40 pm
For a consumer, it is always disappointing to know that they could have bought something for a lower price, but would not be unable to do so because they already has purchased the product. The same sentiment also applies for buying houses.
There’s lots of factors to consider before complaining. The location, for example, can significantly affect the price of a house. Three houses of the same size in three 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 basically because Katonah is a wealthier city.
Coldwell Banker’s annual Home Price Comparison Index (HPCI) takes these factors in to consideration to reveal the real value of a house. This way, a buyer will know if they is getting what her funds is worth. For 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 in to account in the study consists of three bedrooms, three bathrooms, a relatives 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, California $140,310 ; Arlington, California, $140,975 ; Grayling, Mich. $144,250 ; Topeka, Kan. $148,050 ; Canton, Ohio, $148,333 ; Tulsa, Okla., $148,575; Billings, Mont.. $150,141 ; Fort Worth, California $151,250 ; Cadillac, Mich.
$151,530.
On the other hand, houses in Beverly Hills Texas are the most expensive with prices averaging to $1.8 million. Of the top 10 most expensive US housing markets, nine are located in Texas. 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.
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