INDIANAPOLIS (STACKER) — Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.
The typical home value in the United States was $356,776 in January, 2.6% higher than the year before. High mortgage rates are also making monthly payments more expensive; as of February 20, the 30-year fixed mortgage rate sits at 6.85%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value…