Safety and affordability are two of the most important factors when house-hunting, but not all affordable cities are necessarily safe. However, that doesn’t mean you have to make compromises.
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Using data from Zillow, the U.S. Census Bureau, the Bureau of Labor Statistics and Sperling’s Best Places, GOBankingRates identified the best buy a home for less than $500,000. The cities on this list were also ranked in terms of safety using data from a 2023 Safest Cities in America analysis published by WalletHub. The analysis compared 182 cities across the U.S.
The median sales price for a new single-family home was $433,500 in April 2024, according to the U.S. Census Bureau. Although you may be able to afford the median-priced home with a $500,000 budget, you may not have as much wiggle room. Luckily, the average home value in many cities on this list is under $400,000, and some are even closer to $200,000.
10. El Paso, Texas
- Feb 2024 Average Home Value: $217,672
- Average Annual Mortgage: $15,451
- Average Annual Cost of Expenditure: $21,944
El Paso in West Texas was ranked 125 on WalletHub’s list. The city also has a cost of living that’s 18.1% lower than the U.S. average.
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9. Louisville, Kentucky
- Feb 2024 Average Home Value: $238,682
- Average Annual Mortgage: $16,943
- Average Annual Cost of Expenditure: $22,485
Coming in at number 123 in terms of safety, Louisville residents enjoy a lower cost of living, which is 10% lower than the national average.
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8. Fresno, California
- Feb 2024 Average Home Value: $380,682
- Average Annual Mortgage: $27,022
- Average Annual Cost of Expenditure: $24,926
Fresno’s cost of living is higher than that of the U.S., but it’s 31% lower than California’s. WalletHub ranked Fresno 122 in its analysis.
7. Nashville, Tennessee
- Feb 2024 Average Home Value: $443,565
- Average Annual Mortgage: $31,486
- Average Annual Cost of Expenditure: $24,153
Nashville ranked 116th in safety, and its cost of living is 5% higher than the national average.
6. Tucson, Arizona
- Feb 2024 Average Home Value: $334,779
- Average Annual Mortgage: $23,764
- Average Annual Cost of Expenditure: $22,799
Tucson has a cost of living that’s 3% lower than the national average. In terms of safety, Tucson comes in at 111.
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5. Fort Worth, Texas
- Feb 2024 Average Home Value: $302,376
- Average Annual Mortgage: $21,464
- Average Annual Cost of Expenditure: $24,571
Fort Worth, Texas, ranks 109 for safety. The city’s cost of living is higher nationally and within the state of Texas, but it’s only 2% higher than the national average.
4. Sacramento, California
- Feb 2024 Average Home Value: $478,382
- Average Annual Mortgage: $33,958
- Average Annual Cost of Expenditure: $26,770
WalletHub placed Sacramento at 103 on its list, but the cost of living in this city is 27 higher than the U.S. average. However, you can still purchase a home here for under $500,000.
3. Jacksonville, Florida
- Feb 2024 Average Home Value: $302,792
- Average Annual Mortgage: $21,494
- Average Annual Cost of Expenditure: $24,292
Jacksonville has a lower cost of living nationally and within the state of Florida. It’s also a fairly safe city and came in at number 91 on WalletHub’s list.
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2. San Antonio, Texas
- Feb 2024 Average Home Value: $254,946
- Average Annual Mortgage: $18,097
- Average Annual Cost of Expenditure: $23,295
San Antonio’s cost of living is 9% lower than the national average, and 3% lower than the state of Texas. The city also placed 79th in terms of safety.
1. Charlotte, North Carolina
- Feb 2024 Average Home Value: $399,412
- Average Annual Mortgage: $28,352
- Average Annual Cost of Expenditure: $24,391
Coming in first, Charlotte placed 45th on WalletHub’s list. The city does have a slightly higher cost of living (3%) compared to the national average, and it’s about 13% higher compared to North Carolina’s average.
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This article originally appeared on GOBankingRates.com: 10 Safest Cities To Buy a Home for Less Than $500K
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