With the cost of everything from groceries to gasoline seemingly still spiraling out of control, it’s easy to assume that buying a home in America right now either requires winning the lottery or inheriting lakefront property from some mysterious relative you never knew existed.
But there’s a new study that begs to differ — and it’s particularly good news for potential homebuyers in some parts of Michigan.
The personal finance website WalletHub recently analyzed 300 cities across the United States using metrics like home prices, cost of living, taxes, maintenance costs, and how realistically people can afford homes based on local incomes. The result? My hometown of Flint ranked as the most affordable city in America to buy a home, with Detroit coming in right behind it at #2.
Why Flint and Detroit Ranked So High
Flint especially stood out for having the lowest median home price per square foot in the country. WalletHub says homes in Flint average around $60 per square foot — dramatically lower than some places in California where prices can skyrocket past $1,000 per square foot. In many cases in Flint, it’s actually cheaper to buy a home than it is to rent one. That’s not something that can be said in much of the country…