Cheapest Housing in America

Posted November 5th, 2010
by HomeownersInsurance.org Staff (no comments)

If you’re one of the fortunate ones who has the luxury of picking and choosing where you want to live, and are of a mind to shave a few thousand bucks off your cost of living each year, you might want to consider moving to an area with low housing costs and low cost of living. Believe it or not, there are still some places in America where it really doesn’t cost much more to buy a house and pay for homeowners insurance than it does to rent an apartment.

While these locales admittedly aren’t for everyone, they will save you a ton of money if you choose to settle down in one of them:

  • Detroit, Michigan. Ask anyone from the Wolverine state: if you’re looking for a job, go somewhere else and keep on looking. But, if you’re just looking for an inexpensive place to live, Detroit housing is as low as it gets. Of course, you’ll have to deal with high crime and other big city issues, but at least your house will be cheap.
  • Pittsburgh, Pennsylvania. Despite the fact that the recession really didn’t hit all that hard in Pennsylvania (largely because the steel industry had gone south a long time ago), housing prices are still low in Pittsburgh. As a matter of fact, most people find it is actually cheaper to buy a home than to rent here.
  • Tampa, Florida. The recession hit Florida like a ton of bricks. Since tourism is a major part of Florida’s economy, anytime people in other parts of the country have a rough time, Florida feels it, too. This works in your favor if you’re looking for cheap housing, though, because there are lots of foreclosed homes for sale in Tampa and other Florida cities.
  • Dayton, Ohio. Right now, most large cities in the Rust Belt are suffering. Dayton, in particular, has seen its housing values plummet. That’s bad news if you already own a home in Dayton, but if you’re looking for a place where houses are cheap and you won’t need to pay as much for homeowners insurance, Dayton would be an excellent place to look.
  • Orlando, Florida. Like Tampa and the rest of Florida, Orlando’s housing market has suffered as tourism has declined. So, if you’ve ever had the inkling to live next to Mickey Mouse, now just might be your best time to make your move.
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