Posted on 08/23/2020 5:17:36 AM PDT by AggregateThreat
We found that the most affordable housing markets in America were uniformly located in the South and Midwest. The most affordable place we looked at in America was Youngstown, Ohio where the median household income in one year is more than the typical purchase price of a home. On the other hand, almost all the least affordable places to buy a home were in California. Of all the markets we examined, Newport Beach was the least affordable market in the country.
(Excerpt) Read more at priceonomics.com ...
3 of the top 5:
Flint, MI
Detroit, MI
Gary, IN
Gosh, I can’t imagine why housing is cheap there...
What I like best about articles like these is that they are heavily slanted towards larger cities and more populous states. The best part is, anyone taking these articles seriously and use them as a guide as where to move to, will be keeping the Kalifornicating elsewhere.
Apparently quality living was not factored in.
I’d rather have very little disposable income in a nice community than rich in a dump.
Lots of Illinois cities in there.
Illinois has virtually the highest property taxes in the country, a minimum 6.25% sales tax (some downstate cities have 9.0% total “Home Rule” sales tax), and a 5.0% income tax—and the state is in deep annual deficits with all of that tax money.
This is primarily a list of cities where people are fleeing serious problems, moving to healthier places and driving those prices up because it’s far cheaper to live in those places in the end.
Yep. Most affordable means places one doesn’t want to live.
Per a quick search, while Illinois is second (to New Jersey) on property taxes, Texas is only 5 states behind. And on sales taxes, Texas also has a base of 6.25% with a total of 8.25% in most locations. So there really isn't much difference in the sales and real estate taxes between Illinois and Texas, but the outcomes are quite different.
True, but Texas has no income tax.
So that is 5% of money earned a year less than Illinois. Also, Texas has total sales tax capped at 8.25% across the whole state—no exceptions.
House.
A landlord who had some empty apartments on the West Side of Gary, IN tried to move in illegals from Mexico and charge them cheap rent. Even the illegals couldn’t take in Gary and moved out within a year.
Absolutely! For the past several years one of our hobbies has been looking at places on Zillow with the hope that someday in the not so distant future we will escape the overpriced liberal hell hole we currently live in. Typically when my wife finds a house that looks like a castle for a super reasonable price there is always a reason.
When you find a cheap house that looks very nice in other places... it will often be located in a place where English speaking white people make up less than 30% of the population and your chances of being murdered, raped, assaulted burglarized or robbed are several times the national average.
Then there are the places with high property taxes. Upstate New York has all sorts of beautiful cheap places, but the property taxes on a house that is practically being given away will often be over $10,000 a year.
Then there are the places with intolerable climates. Places where a 3rd or more of the year it is typically in the 90s with high humidity, or in the 100s with low humidity. Not to mention places where the winters are super cold, or places where it drizzles nearly every day for approximately 9 months out of the year. Then there are the places that are so remote that it takes you two hours to drive to a Walmart.
“This is primarily a list of cities where people are fleeing serious problems, moving to healthier places and driving those prices up because it’s far cheaper to live in those places in the end.”
The elephant in the room that they didn’t dare to mention is that most of these “affordable” places are disproportionately black. Whites have been fleeing for decades.
Chicago has 10.25% total sales tax, and being 5 states down from Illinois for real estate taxes is an order of magnitude. Illinois is a ripoff and Texas is a bargain.
So true. I inherited a lovely place in one of those high-tax areas. I love being there, but I have resisted the temptation to improve the property. The taxes are already crazy and I’m not willing to have it re-assessed out of affordability. That said, taxes will go up now due to COVID. The county has experienced a huge loss of revenue, as has the state. Much of the gap will be made up on the backs of property owners.
Want to see chart of avg. home price$ 3-2 /2 car gar. apples to apples -— by state & metros-— most to least..
Youngstown may be the cheapest place to live but no one in their right mind would want to live there. It’s crime infested and it’s a dump with huge swaths of urban blight.
Doesn’t Texas has the highest property tax in the county?
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