Homeownership has become more challenging over the past two decades, amid successive financial crises the United States has faced. It is also projected to face slowing growth in the next decade, according to the Harvard University Joint Center for Housing Studies. This puts immense pressure on people who want to choose a property to invest in and a place to call home.
However, when it comes to picking a place to settle down, real estate prices aren’t the only metric to consider. Many cities and small towns have dirt-cheap properties, but they lack the fundamental aspects of a high-quality life. Think parks, walkable streets, reliable public transit, as well as, of course, job opportunities.
There are 5 cities where real estate ownership is attainable, and other quality-of-life metrics are also on the rise. Let’s take a closer look.
5 U.S. Cities Where Quality of Life is Improving (and Housing is Still Attainable)
We used the National Association of Realtors Median Sales Price of Existing Single-Family Homes for Metropolitan Areas index, as well as the AARP Livability Index Top 100 list of U.S. cities, to compile this list to include affordable cities that are also a joy to live in. The list isn’t ranked in order because each city has its own charm and, depending on what you’re looking for, could be the right choice for you.
1. Portland, Maine
- Median Home Price: $554,200
- Overall Livability Score: 66
- AARP Ranking: No. 3 Mid-Size Communities
At a population of just over 68,000, Portland, Maine, is shaping up to be one of the nicer mid-size communities to join, thanks to the many boxes it ticks for quality of life.
Aside from the easily attainable housing, Portland also has a strong public transit network and scores 14.69 on the 1-20 walkability index. Not to mention how engaged and politically conscious the population is, with a 77% voter turnout and anti-LGBTQ+ discrimination city policies.
2. St. Paul, Minnesota
- Median Home Price: $394,900
- Overall Livability Score: 64
- AARP Ranking: No. 5 Large Communities
If you’re seeking out a larger community, St. Paul, Minnesota, could be the one to go for. The median home price is below the national average of $415,000, and options for multi-family and subsidized housing are available.
St. Paul also has a great walkability score of 14.43 and over 13 buses and trains per hour, making transportation easier. It is a little less civically engaged than Portland, Maine, but that’s to be expected with more than quadruple the population.
3. Harrisburg, Pennsylvania
- Median Home Price: $283,200
- Overall Livability Score: 64
- AARP Ranking: No. 9 Mid-Size Communities
With housing costs well below the national average, Harrisburg, Pennsylvania, is a unicorn among East Coast state capitals. Thanks to the city’s policy of providing over 600 subsidized homes per 10,000 people, housing is highly attainable here.
As for walkability, it has one of the highest scores at 15.88, but this comes at the cost of a lack of public transit. It more than makes up for it, though, with ample employment opportunities, beating the median U.S. city by over 27% in job availability per worker.
4. Madison, Wisconsin
- Median Home Price: $458,300
- Overall Livability Score: 63
- AARP Ranking: No. 9 Large Communities
Another large community, Madison, Wisconsin, with a population of 275,000, is a strong contender on this list. It may not have the largest city-subsidized housing ratio, but it makes up for it with the availability of multi-family homes.
With a decent walkability score of 14.14 and an astonishing 26 buses and trains per hour, transportation in Madison is pretty easy and convenient. Job opportunities are also readily available, with 0.94 jobs per worker.
5. Lincoln, Nebraska
- Median Home Price: $312,200
- Overall Livability Score: 62
- AARP Ranking: No. 16 Large Communities
Lincoln, Nebraska, shares many similarities with Madison, Wisconsin, but it wins out in the median home price category, thanks to its spot $103,000 below the national figure.
It’s a decently large city with a population of 291,000, but it maintains walkability and a good concentration of job opportunities. The state also passes significant legislation to mitigate the cost-of-living crisis, such as raising the minimum wage and expanding the Family and Medical Leave Act.
Want to Learn More?
The list we put together is by no means comprehensive. There are many great cities where one can be a property owner and enjoy a culturally rich and affordable life. For example, this list has omitted the Very Large (population >1 million) and Small (population <25,000) community options because housing costs tend to rise in both categories.
If you have more money to invest in a property and would like to scope them out, you can start by choosing the city you want to research, then use a property records search tool to zero in on stats from the neighborhood you want to look up.
Final Thoughts
It’s true that choosing a home comes with more than just the four walls you’re buying. A city with opportunities and a vibrant cultural scene significantly improves a person’s quality of life and makes them much less likely to want to relocate.
The list above is a starting point to give you some inspiration to find out where the next chapter of your life might take you.