Home prices in the U.S. have seen a dramatic rise, with the median sales price increasing significantly alongside rising mortgage rates. Despite these trends, WalletHub's report identifies Flint, Michigan as the most affordable city for home buyers, thanks to low cost of living and home prices. The city's affordability is influenced by past issues like its water crisis, yet improvements ensure safety today, highlighting Flint as a viable option for prospective homeowners. Detroit also ranks high in affordability, underscoring Michigan's opportunities in real estate.
Flint is the most affordable city for home buyers, boasting the lowest cost of living index (COLI) in the country and the most affordable home prices relative to residents' income.
Flint also has a very high rent-to-price ratio, meaning it's cheaper to buy property than it is to rent it, making homeownership more accessible.
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