People who’ve made homeownership a 2025 New Year’s resolution may be wondering: Where do I get the most bang for my buck? What metro areas are the most affordable in terms of home prices?
The latest RE/MAX National Housing Report, which surveyed 50 U.S. metro areas, revealed an overall median home sales price of $429,000 in November 2024 – 5.7% higher than a year prior. But a number of places had a median hundreds of thousands of dollars lower than the nationwide mark.
When it comes to purchasing a home, a 20% down payment is considered common, but some mortgage loan options require qualifying buyers to put only 3% down.
According to the data from RE/MAX, median sales price – which determines the most affordable 3% down payment possible – was lowest in these nine metro areas:
3_percent_down_Nov_2024
If you’re ready to make homeownership a reality this year, get in touch with a local RE/MAX agent today.
Written by RE/MAX News
Recommended For You
Buying a Home | 6 Things Every First-Time Homebuyer Should Know
Get RE/MAX News delivered to your inbox! Sign up for News Alerts in the footer below.
