Montgomery, Alabama Ranks No. 1 as Most Affordable for Home Buyers
MONTGOMERY, AL | June 2, 2023 – As affordability becomes an even tighter squeeze, WalletHub has compared 300 U.S. cities across 10 metrics to find the most affordable places for home buyers. The study ranked Montgomery, Alabama, as the most affordable city for buyers.
The 10 metrics used to evaluate each city were housing affordability (median house price divided by median annual household income), maintenance affordability, average cost of homeowner’s insurance, cost of living, cost per square foot, real estate tax rate, rent-to-price ratio, median home price appreciation, quarterly active listings per capita, and vacancy rate.