It is well documented that real estate prices are up. From Augusta, Georgia to Augusta, Maine, Anchorage to Orlando and everywhere in between, potential home buyers are feeling the pinch. While home values are relative to location– the average rent for a studio in San Francisco, California equals approximately 5 months of rent for a much larger apartment in Cleveland, Ohio– most sources agree that prices overall won’t be trending downward anytime soon. That said, when considering that what you get is what you pay for, there are actually some areas in the US that have what can be considered as an undervalued market. If you’re looking to score a deal on real estate, here are some of the markets you need to check out. All include the metro area unless otherwise noted.
Alabama: Decatur, Tuscaloosa, Montgomery, Auburn-Opelika, Mobile
Arkansas: Pine Bluff
Arizona: Yuma
California: Chico, Merced, Fresno, Hanford-Corcoran, Bakersfield, Visalia-Portersville, Madera, El Centro, Yuba City
Connecticut: Bridgeport-Stamford-Norwalk, New Haven-Milford, Norwich-New London, Hartford-West Hartford-East Hartford
Georgia: Macon-BiBB County, Warner Robins, Albany, Hinesville, Valdosta
Idaho: Pocatello
Illinois: Carbondale-Marion, Springfield, Decatur, Bloomington, Peoria, Danville, Kankakee, Elgin (Metropolitan Division), Rockford
Indiana: Bloomington, Indianapolis-Carmel-Anderson, Kokomo, Lafayette-West Lafayette, Gary (Metropolitan Division), Michigan City-La Porte
Iowa: Waterloo-Cedar Falls, Cedar Rapids
Kansas: Wichita, Lawrence
Kentucky: Bowling Green, Elizabethtown-Fort Knox
Maine: Bangor
Maryland: Springfield
Michigan: Kalamazoo-Portage, Grand Rapids-Wyoming, Lansing-East Lansing, Jackson, Midland, Saginaw, Warren-Troy-Farmington Hills (Metropolitan Division), Detroit-Dearborn-Livonia, Monroe, Niles-Benton Harbor, Battle Creek, Flint, Bay City
Mississippi: Gulfport-Biloxi-Pascagoula, Jackson
Missouri: Columbia, Joplin
New Hampshire: Rockingham County-Strafford County
New Jersey: Vineland-Bridgeton, Camden (Metropolitan Division)
New Mexico: Santa Fe, Las Cruces
New York: Rochester, Syracuse
North Carolina: Fayetteville, Greensboro-High Point, Burlington, Goldsboro, Jacksonville, Greenville, Rocky Mount
Ohio: Toledo, Mansfield, Cleveland-Elyria, Canton-Massillon, Springfield, Dayton, Lima, Akron, Canton-Massillon
Oklahoma: Lawton
Pennsylvania: Pittsburgh, Erie, Johnstown, Altoona
South Carolina: Columbia, Florence, Sumter
Tennessee: Jackson
Washington: Yakima
West Virginia: Parkersburg-Vienna
Wisconsin: Janesville-Beloit, Wausau, Fond du Lac, Sheboygan
Wyoming: Casper
State Borderline Areas
Alabama-Georgia: Columbus
Connecticut-Maryland: Worcester
Georgia-South Carolina: Augusta-Richmond County
Illinois-Wisconsin: Lake County-Kenosha County
Indiana-Michigan: South Bend-Mishawaka
Iowa-Nebraska-South Dakota: Sioux City
Kentucky-Indiana: Evansville
Mississippi-Tennessee-Arkansas: Memphis
Missouri-Illinois: St. Louis, Cape Girardeau
Ohio-Kentucky-Indiana: Cincinnati
Ohio-Pennsylvania: Youngstown-Warren-Boardman
Ohio-West Virginia: Weirton-Stuebenville
Pennsylvania-New Jersey: Allentown-Bethlehem-Easton
Agents: Do you agree with these findings? Disagree? Share your thoughts in the comments! And if you're looking for a great deal in real estate check out the upcoming RealtyHive auctions here.
Source: CoreLogic Home Price Insights. (n.d.). Retrieved December 05, 2017, from http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx?WT.mc_id=crlg_171205_oJ2fR#
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