Cheapest cities for family homes

Cheapest cities for family homes
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In Cleveland, pictured, the price of an average four-bedroom, two-bath home is so low that you could buy 30 of them for the price of one in Silicon Valley’s Los Altos. Flickr photo by Tom Baker (@mylifeinhdr).
Where can you buy about three or four homes — family-size homes with four bedrooms and two baths — for the price of one average home?Or as many as thirty homes for the price of one in Silicon Valley?These cities.

Coldwell Banker just released its annual Home Listing Report detailing the most expensive and affordable housing markets in the nation. But instead of merely looking at the median residential prices, it zeroes in on family-size homes (4BR/2BA) to get rid of the outliers at the extreme margins. You won’t find Manhattan or Beverly Hills on the list of most expensive markets, because although they have plenty of small homes in Manhattan’s case and plenty of mansions in Beverly Hills’ case, they don’t have enough family-size homes to qualify. Neither will you find Detroit on the list of cheapest markets, for the same reason: not enough family-size homes.

The average price for such a home is $295,317 nationally, but for the cities on this list, the average is as low as $64,993. In fact, only two of the 10 cheapest markets even crack six figures. Compare that with the 10 most expensive markets, where no average dips below seven figures. You could buy 30 family-size homes in Cleveland, America’s cheapest market, for the price of a single comparably sized home in Silicon Valley’s Los Altos, California, the most expensive market.

 

A 4BR/2BA home in Utica on the market for $113,000.

A 4BR/2BA home in Utica on the market for $113,000.

10. Utica, N.Y.
Average price for a 4BR/2BA home: $107,211

You could buy 2.75 homes in Utica for the same price as one 4BR/2BA home at the national average.

Or you could buy 18.3 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/1BA home in Cheektowaga on the market for $104,900.

A 4BR/1BA home in Cheektowaga on the market for $104,900.

9. Cheektowaga, N.Y.
Average price for a 4BR/2BA home: $101,475

You could buy 2.90 homes in Cheektowaga for the same price as one 4BR/2BA home at the national average.

Or you could buy 19.35 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/2BA home in Augusta on the market for $94,900.

A 4BR/2BA home in Augusta on the market for $94,900.

8. Augusta, Ga.
Average price for a 4BR/2BA home: $98,233

You could buy 3.01 homes in Augusta for the same price as one 4BR/2BA home at the national average.

Or you could buy 19.98 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/2BA home in Waukegan on the market for $94,900.

A 4BR/2BA home in Waukegan on the market for $94,900.

7. Waukegan, Ill.
Average price for a 4BR/2BA home: $98,226

You could buy 3.01 homes in Waukegan for the same price as one 4BR/2BA home at the national average.

Or you could buy 19.99 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/4BA home in Buffalo on the market for $94,999.

A 4BR/4BA home in Buffalo on the market for $94,999.

6. Buffalo, N.Y.
Average price for a 4BR/2BA home: $97,288

You could buy 3.04 homes in Buffalo for the same price as one 4BR/2BA home at the national average.

Or you could buy 20.18 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/3BA home in Lithonia on the market for $99,900.

A 4BR/3BA home in Lithonia on the market for $99,900.

5. Lithonia, Ga.
Average price for a 4BR/2BA home: $94,076

You could buy 3.14 homes in Lithonia for the same price as one 4BR/2BA home at the national average.

Or you could buy 20.87 homes for the price of a single 4BR/2BA home in Los Altos.

A 5BR/3BA home in Lake Wales on the market for $87,000.

A 5BR/3BA home in Lake Wales on the market for $87,000.

4. Lake Wales, Fla.
Average price for a 4BR/2BA home: $82,330

You could buy 3.59 homes in Lake Wales for the same price as one 4BR/2BA home at the national average.

Or you could buy 23.84 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/3BA home in Park Forest on the market for $72,000.

A 4BR/3BA home in Park Forest on the market for $72,000.

3. Park Forest, Ill.Average price for a 4BR/2BA home: $75,647

You could buy 3.9 homes in Park Forest for the same price as one 4BR/2BA home at the national average.

Or you could buy 25.95 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/2BA home in Riverdale on the market for $68,500.

A 4BR/2BA home in Riverdale on the market for $68,500.

2. Riverdale, Ga.
Average price for a 4BR/2BA home: $68,207

You could buy 4.33 homes in Riverdale for the same price as one 4BR/2BA home at the national average.

Or you could buy 28.78 homes for the price of a single 4BR/2BA home in Los Altos.

A 4BR/2BA home in Cleveland on the market for $65,000.

A 4BR/2BA home in Cleveland on the market for $65,000.

1. Cleveland, Ohio
Average price for a 4BR/2BA home: $64,993

You could buy 4.54 homes in Cleveland for the same price as one 4BR/2BA home at the national average.

Or you could buy 30.20 homes for the price of a single 4BR/2BA home in Los Altos.

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