Fairweather predicts interest rates will come back to about 5% by the end of 2024, which should be enough to boost the housing market.

While this article aims to show you some of the best places to buy a home in the US, you should know that these are actually pretty rare. You don’t really get to find too many cities where buying a house is cheaper than renting one.

The dizzying math of high purchase prices and high interest rates makes owning much costlier than paying rent in most large US cities. Let’s take Austin, Texas, as an example, which is a pretty extreme one. Even a starter home will cost you around $3,700 per month, according to some recent data. Monthly rents there are around $1,650 on average.

The best places to buy a home in the US in 2023 are located in smaller metro areas. These cities tend to have a smaller rental stock and a higher ownership rate. Most of them are inland cities, with real estate markets that didn’t experience the huge increase that you tend to see in many coastal markets, which can make homebuying almost impossible.

So, which are the best places to buy a home in the US? Without further ado, here’s where owning is cheaper than renting!