By Shayla Mars  Tue Jan 7, 2014

2014 Offers Wealth of Housing Markets

detroit

Flickr source

If your definition of the best place to live in America mainly hinges on having the most bang for your buck in the housing market, then this is the list for you. Every year CNN Money creates a list of the 50 best places to live in America. They are usually small towns, but our list lends some diversity.

1. Detroit, MI

Detroit was hit hard by the 2008 housing bubble burst and unlike most of the city’s counterparts; it has yet to spring back. The declaration of bankruptcy in 2013 has also kept housing prices at a standstill. Good news for you! Currently in Detroit, the median housing price for a 4-bedroom home is $42,000, which is up from $40,000.

A concern may be Detroit’s current economic situation, but don’t count the city out yet! Just last year, parts of Transformers 4 were filmed there and Detroit is hastily building its arts scene. Organizations in Detroit are starting a writers-in-residence program where three buildings will be used as the home for these writing communities. Writers commit to a two-year lease and afterward the house belongs to them.

2. Altamonte Springs, FL

Borrowing from the 2013 CNN Money list for most affordable homes in their 50 Best Places to Live, Altamonte Springs, FL comes in first. With a median housing price of $67,000 this Orlando suburb may be the next place to settle down. Offering warm weather, space, and festive attractions, Altamonte Springs will allow your dollar to go further. If you were interested in renting, a two-bedroom apartment would run you $800 a month. Eat your heart out New York City. Homeowners stay because of the low property taxes: 0.8%.

3. Powder Springs, GA

If you don’t want to head south to Florida, stop off in Powder Springs, GA. This is the perfect location for young families. A three-bedroom home goes for $75,000 or less. The median housing price is $85,000. Powder Springs is rich in American history and boosts a great, well-funded public high school. Median family income is around $68,000 and the average age is 35. Its scenic downtown area will be sure to hold captivate you.

4. Homewood, IL

This large suburb of Chicago is sure to delight creatives. Most of the population works in the arts as teachers, designers, and musicians. The median housing price is $100,000 which is higher than the three previous places, but the median income is in the upper $80K making Homewood a prime place for middle-class Americans. What is amazing about Homewood’s housing market is that you can purchase a 4,000 sq. ft. home for close to $400,000 perhaps even less if you know how to haggle. Enjoy the laid back Midwestern lifestyle while having Chicago only 22 miles away. No need to flee every weekend though, Homewood stays vibrant and busy with its own attractions.

5. Everywhere in Texas

Texas is currently experiencing wide growth economically so naturally housing deals are springing up. The whole state of Texas from The Colony to Dallas are selling and renting homes at record lows. Median housing prices fall between lower $100K in the suburbs and small towns to $200,000 on the higher end in larger towns and cities. According to Local Market Monitor, homes in Ft. Worth are 20% below value. If you’ve never been to Texas, homes are huge and stunning. By the end of 2013, Texas gained over 200,000 jobs. Strike while the iron is still hot!

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