1. Memphis, Tenn.
Memphis is one of the best places to buy a home in the US. In fact, homebuyers in this city can save hundreds of dollars every month over renters. According to financial experts, this applies even with sale prices surging.
In Memphis, the median monthly cost for first-time homebuyers is only $847. On the other hand, the median monthly rent is $1,258. That’s almost $400 more, which is a lot.
Joe Spake is a broker in Memphis, and according to him, new apartments in Memphis rent for a hefty amount of money. If you’re looking for a new place to rent, expect to pay $1,600 in monthly rent for a two-bedroom apartment.
2. Pittsburgh
Pittsburg is also among the best places to buy a home. Home seekers will save about $350 per month by buying a starter house in this city rather than renting one, according to financial analysts. The median monthly rent is $1,445, while a mortgage is about $1,097.
This city in the Rust Belt experienced substantial outmigration after the steel industry went back in the late 20th century, which resulted in overall real estate stagnation. However, unlike some other urban metro areas, this one has seen a revitalization and gentrification of its downtown.
So now Pittsburgh is one of the best places to buy a home in the US.
