To determine the most affordable metro areas to buy a home in the nation, 24/7 Wall St. reviewed one-year estimates of median owner-occupied home values from the U.S. Census Bureau’s 2019 American Community Survey.
We used the 384 metropolitan statistical areas as delineated by the United States Office of Management and Budget and used by the Census Bureau as our definition of metros.
Metros were ranked based on their owner-occupied median home values. To break ties, we used median monthly housing costs with a mortgage, deeming the metro area with the lower monthly cost to be the least expensive.
Additional information on median monthly housing costs with a mortgage, the share of owner-occupied housing units that have a mortgage, rates of homeownership, and median household income are also one-year estimates from the 2019 ACS.