According to the U.S. Census Bureau, by February 2017 the average sales prices for new homes reached $390k, showing the growth by 12% compared to the previous period. Based on various statistics, real estate experts say that the demand for residential construction has remained strong over the past 5 years and the trend is going to continue.

The key issue is whether there is an answer to the demand for affordable housing since sales prices in metropolitan areas tend to be much higher than the announced average figures. And it is no wonder that many urban residents begin to consider moving to the country as a solution to their housing problems. But is the game worth the candle?

Big Cities are At Least 1.5 Times More Expensive

According to the National Association of Realtors, by the third quarter of 2017, the median sales prices for existing single-family homes increased by 5.3% across the United States and reached $254k. However, in some large metropolitan areas the figures are significantly higher:

• Boston – $464k
• Bridgeport – $419k
• Denver – $418k
• Los Angeles – $595k
• Miami – $340k
• New York – $419k
• Portland – $389k
• San Francisco – $900k
• Seattle – $478k
• Washington – $408k

Standard and Poor’s also reports that house prices have been rising in all 20 major U.S. cities, with Seattle topping the ranking (due to increase of almost 11% in 2016) and closely followed by Portland (about10%), Denver (almost 9%), Tampa (over 8%) and Dallas (8%).

So, it is quite clear that there are more affordable housing options somewhere out of big cities with their 73% of all US residents aged 18-35. But where are those places?

Go Midwest

Obviously, when choosing a better place for living, we should consider many aspects other than average prices. This includes job opportunities, income level, mortgage rates, crime rate, transportation availability or a possibility to arrange a reliable moving company quote for the long destination, as well as other factors, dependent on individual’s family status and personal preferences.

However, when summarizing basic financial issues, it seems that Midwest is the best option for moving to. The median sales prices for Midwest are the lowest in the country ($197,500), and though the median family income is not the highest, still the mortgage payments make only 12, 6% of the income – and this is the most affordable option available in the United States. Will you be surprised to know that, according to Business Insider, 10 of the 25 cheapest housing markets are located in the Midwestern United States? Take a closer look at the neighborhoods of the following cities:

• North Platte, Nebraska
• Forest Park, Ohio
• Kankakee, Illinois
• Sioux City, Iowa
• Beloit, Wisconsin
• Parma, Ohio
• Zion, Illinois
• Waukegan, Illinois
• Park Forest, Illinois
• Cleveland, Ohio

The Northeast is the closest competitor with its average payments of 14, 6%, while the West is the most expensive destination with its highest median prices ($376,200) and mortgage payments amounting to 22% of the family income. But whichever destination you choose, make sure to weigh up the pros and cons depending on your specific needs.