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10 Most Affordable U.S. Metros

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One of the first questions potential homebuyers asks themselves: what can I afford? Those looking to move to metro regions may be disheartened by the cost of living standards within any given city – especially as prices continue to rise. Although, there are metropolitan areas more affordable than others.

Using data on debt, median income, housing costs and home prices in the nation’s largest metropolitan areas, nerdwallet.com offers information on how much families can spend while remaining within healthy budget parameters.

Following are the 10 Most affordable U.S. metros for homebuyers*, as reported by nerdwallet.com:

  1. Indianapolis-Carmel-Anderson, Indiana

Affordable home value: $294,318
Number of square feet: 5,302

  1. Memphis, Tennessee-Mississippi-Arkansas

Affordable home value: $283,998
Number of square feet: 3,663

  1. Dayton, Ohio

Affordable home value: $260,906
Number of square feet: 3,511

  1. Cleveland-Elyria, Ohio

Affordable home value: $298,800
Number of square feet: 3,504

  1. Akron, Ohio

Affordable home value: $291,020
Number of square feet: 3,497

  1. Youngstown-Warren-Boardman, Ohio-Pennsylvania

Affordable home value: $206,727
Number of square feet: 3,497

  1. Cincinnati, Ohio-Kentucky-Indiana

Affordable home value: $304,307
Number of square feet: 3,330

  1. Toledo, Ohio

Affordable home value: $257,171
Number of square feet: 3,295

  1. Raleigh, North Carolina

Affordable home value: $351,588
Number of square feet: 3,163

  1. Kansas City, Missouri-Kansas

Affordable home value: $313,296
Number of square feet: 3,156

* All recommended home prices are from NerdWallet’s home affordability calculations.

The recommended total home value was estimated as the sum of the down payment and the maximum conventional loan with mortgage insurance. The home price was then divided by Zillow’s 2014 average of price per square foot to calculate estimated size.