Buying a home is a major milestone that represents more than a place to live; it’s a key financial investment and pathway to long-term stability.
High home prices and elevated mortgage rates make buying a house today challenging. However, with thoughtful planning, research and smart financial strategies, securing an affordable home is still possible.
Forbes Advisor compared the 100 largest U.S. cities with available data across key metrics, including affordability, inventory and lifestyle, to determine the best cities in which to buy an affordable home.
Our selected cities have much to offer budget-conscious home shoppers, though some eclipse others in affordability, housing stock and local amenities.
10 Best Places To Buy an Affordable Home
1. Pittsburgh, Pennsylvania
Pittsburgh’s score: 100/100
In terms of home prices, Pittsburgh ranked 19th lowest, with median-priced homes running around $236,067, making the Steel City an appealing option for home shoppers on a tight budget. What’s more, Pittsburgh homeowners benefit from low housing costs as a percentage of income, at 14.8%, earning the second-lowest ranking for this metric.
Pittsburgh’s housing inventory will also excite home shoppers. The city ranks fifth-highest in listings per 100,000 households, so those looking to settle down in “da burgh” will have many options.
Those raising school-aged kids will also be pleased to learn that the city ranked fifth-highest for quality schools.
Apart from the affordable homes and excellent education system, Pittsburgh’s charm and strong community vibe extend beyond the beloved Steelers and iconic Primanti sandwich. The city’s thriving arts and culture scene, dining hotspots and outdoor activities—such as biking, kayaking and picnicking in historic Point State Park—offer something for everyone.
2. Fort Wayne, Indiana
Fort Wayne’s score: 88.99/100
With a metro-area population under 500,000, a flourishing riverfront, an arts community and a unique urban-suburban vibe, Fort Wayne offers an appealing mix of affordability and livability.
First-time home buyers take notice: The median home price here is roughly $227,322, placing Fort Wayne 13th lowest in housing costs in our analysis. The city also ranked among the best when it comes to homeowner costs as a percentage of median household income (14.9%), tying for third lowest.
For those concerned about safety, you’ll be delighted that Fort Wayne has a pretty low crime rate, ranking 22nd among the cities we analyzed. This makes this all-American, family-friendly city a secure place to put down roots.
Jobseekers eyeing homes in Fort Wayne will be pleased to discover that big companies like Google and Amazon have established a presence there, and City of Fort Wayne employees enjoy a competitive benefits package and flexible working conditions.
3.Buffalo, New York
Buffalo’s score: 87.88/100
Buffalo is already drawing home shoppers as one of the cheapest places to buy a home. It ranks eighth lowest in our analysis, with a median home sale price of about $211,133.
In terms of home affordability, Buffalo has the third-lowest costs as a percentage of median household income, with just 14.9% of earnings required to cover home expenses.
Families will also value the Queen City’s solid educational reputation—its quality school system ranked 10th in our analysis.
Buffalo also shines as a hub for foodies (beyond its famously named chicken wings), ranking 20th for dining and drinking per capita. Moreover, its proximity to two Great Lakes provides residents with fishing, boating, water sports and lakeside chillout opportunities.
4. Huntsville, Alabama
Huntsville’s score: 83.30/100
Huntsville is the most populous city in Alabama, but still under 225,000, and stands out as a small metropolis with an affordable housing market, good job opportunities and easy access to nature.
With a median home price of about $259,817, Huntsville ranked 26th lowest in our analysis. On top of that are the low homeownership costs. Huntsville ranked the best in this metric at only 14.1% of the median household income.
However, the low property tax rate of just 0.41% of the median home value—the seventh lowest in the country—may seal the deal. This helps to make Huntsville one of the most affordable cities in the U.S. to own a home.
Huntsville is also a safe place to live, coming in 10th for the lowest crime rate among the cities we evaluated.
Residents of the Rocket City also have access to the world-famous U.S. Space & Rocket Center museum, over 60 public parks and the Von Braun Center entertainment complex, making it a fun and lively spot to raise a family.
5. Oklahoma City, Oklahoma
Oklahoma City’s score: 76.89/100
If you want to live in an affordable locale with southern charm, consider Oklahoma City.
With a median home sale price of $213,000, Oklahoma City ranked ninth-lowest among U.S. cities, making it an excellent value for prospective buyers. Moreover, homeownership is affordable once you settle down in the Big Friendly. Residents spend an average of 17% of their median household income on homeowner costs, placing the city at 21st lowest in this category.
Beyond its affordability, Oklahoma City offers families quality educational opportunities, ranking 35th highest for school quality.
Oklahoma’s capital city also offers its nearly 700,000 residents a vibrant mix of arts, culture, dining and outdoor activities. From the bustling Bricktown Entertainment District to the Boathouse District along the river to its array of museums, galleries and emerging culinary scene, there’s plenty to enjoy and explore.
6. Indianapolis, Indiana
Indianapolis’ score: 76.14/100
Indianapolis is a solid choice if you’re looking to settle down in an affordable city with a friendly vibe.
Homeownership here is attainable, with a median home price of about $231,667. Moreover, the city ranked eighth-lowest for homeowner costs as a percentage of median household income at 16.1%, allowing buyers to maintain more financial flexibility than in other cities.
For families focused on education, Indianapolis has decent school options, ranking 25th for school quality.
Beyond affordability, the Hoosier Capital delivers when it comes to quality of life, offering a vibrant music scene, professional sports teams, over 200 parks and playgrounds and a dynamic yet relaxed vibe for those seeking to settle in a big U.S. city (the 14th largest) with a community feel.
7. El Paso, Texas
El Paso’s score: 75.94/100
With a population over 677,000, El Paso offers a combination of affordability, safety and career opportunities, making it a worthwhile location for aspiring home buyers to add to their list.
The Lone Star state’s sixth-largest city ranked 20th for median home sale price, with homes in this Texan metro selling for around $241,333. The area possesses a relatively robust housing supply, ranking 18th-highest for inventory, with around 1,035 homes available per 100,000 households.
Safety is another perk. El Paso has the ninth-lowest crime rate, offering current and future residents peace of mind.
For home buyers looking to start or build a career, El Paso is home to major employers in the healthcare industry. Job-seekers may also find opportunities at Fort Bliss or one of the colleges and universities.
8. Lexington, Kentucky
Lexington’s score: 74.08/100
Known for its historic bourbon distilleries and expansive horse country, Lexington offers a unique balance of affordability, lifestyle and cultural richness, making it a popular house-hunting spot.
With a median price of approximately $302,667, Lexington home prices are higher than other cities on our list but remain affordable. Plus, once you buy a home in Lexington, you don’t have to worry about high homeownership expenses, with the city ranking 13th-lowest for homeowner costs as a percentage of median income at 16.4%.
Education is another Lexington perk if you’re raising a family or planning one. The city ranked 29th highest for school quality.
The “Horse Capital of the World” also offers a vibrant entertainment scene, including numerous live music venues and world-class performing arts. It ranks 27th highest for entertainment establishments per capita. Food lovers will be impressed by the diverse dining landscape, including Southern barbecue, Latin-inspired dishes, and authentic Thai and Nepalese cuisine.
9. Louisville, Kentucky
Louisville’s score: 74.07/100
Right down the road from Lexington on Interstate 64, Louisville—the Bluegrass state’s largest city—ranks among the best cities for home buying, closely competing with Lexington.
Home buyers in Louisville can snag a median-priced home for around $241,567, making it the 21st lowest city for this metric. Chances are good that you’ll also find your ideal home in Louisville—the area ranked 22nd for new inventory, with over 1,000 new listings per 100,000 households.
Regarding homeownership costs, Louisville doesn’t horse around. You only need to put 17.1% of median household income toward homeownership expenses, allowing more discretionary funds to enjoy all the Louisville area offers.
Speaking of what Louisville has to offer, the area boasts attractions beyond the world-famous Churchill Downs and Kentucky Derby, including the Muhammed Ali Center, the Louisville Slugger Museum and Factory, and a range of culture and entertainment options at the Kentucky Center for Performing Arts. There are numerous downtown eateries and open spaces like Waterfront Park.
10. Omaha, Nebraska
Omaha’s score: 73.74/100
The reported birthplace of the Reuben sandwich and home to four Fortune 500 headquarters, Omaha, rounds out our top 10. It offers an ideal blend of affordability, vibrancy and career opportunities that make the city a great place to put down stakes.
With the median home price hovering around $278,667, Omaha ranked 28th lowest in affordability in our evaluation, allowing homeowners to stretch their dollars. The low home-related expenses are another advantage that will keep money in your pocket. The city ranked within the top 30 for median homeowner costs as a percentage of household income, clocking in at just 17.3%.
An impressive standout feature is Omaha’s top-tier education system. Families raising school-aged children will be pleased to know that it earned the second-highest ranking for school quality among the 100 cities we evaluated.
Omaha’s perks extend way beyond affordability and education. Its diverse neighborhoods, such as the Blackstone District, South Omaha and Old Market, buzz with entertainment options and global cuisine. The thriving culture sector and live music scene, complemented by a varied nightlife that offers everything from craft beer to craft cocktails, ensures an Omaha vibe for everyone.
