Flint, Michigan, has been named the most affordable city to own a home, boasting the lowest cost of living and the most affordable home prices in relation to its residents’ income. Flint has the lowest median home price per square foot at just $61, while its rent-to-price ratio remains quite high, indicating that it is cheaper to buy a home than to rent one. Keep reading to see what other cities made the list.
The cost of homes in the U.S. is skyrocketing. According to data from the Federal Reserve Bank of St. Louis, the median sales price went from $313,000 at the beginning of 2019 to $416,900 at the beginning of 2025. And, as WalletHub noted, that doesn't account for the rise in mortgage rates, with the average 30-year fixed mortgage rate jumping from 2.65 percent in January 2021 to 6.87 percent in January 2025. However, you can still find a great deal in certain parts of the country.
WalletHub in its latest report identified the most affordable cities for home buyers. The company compared 300 U.S. cities across 10 key metrics, including housing affordability, the average cost per square foot, average cost of home insurance, the city's cost of living, and the real estate tax rate. Flint, Michigan, came out on top.
"Flint is the most affordable city for home buyers, boasting the lowest cost of living index (COLI) in the country and the most affordable home prices relative to residents’ income," the report stated. "It also has the lowest median home price per square foot, at only $61. To put that in perspective, the price in the most expensive cities is over $1,000 per square foot."
Flint also has a very high rent-to-price ratio, meaning it’s "cheaper to buy property than it is to rent it," WalletHub reported.
The report indicated that part of the city's affordability is likely due to its water crisis, but added that "Flint’s drinking water has now been in compliance with EPA standards for six years," making it a great place to revisit.
