Using a composite of median home values, median rents, and household income, we identified the ten US cities with the best affordability profiles in the latest Census data.
Affordability is one of the most searched topics in American real estate — and for good reason. Over the past decade, home values have outpaced income growth in most major metros, squeezing both first-time buyers and renters. But pockets of affordability remain, and Census data lets us identify them with precision.
CensusDepth's affordability index blends three ACS 5-year metrics: median home value, median gross rent, and median household income. We compute a price-to-income ratio for homeowners and a rent-to-income ratio for renters, then combine them into a single composite score. Lower scores equal higher affordability.
Among cities with populations above 100,000 in the 2023 ACS, these ten rank highest on our affordability composite:
Several factors cluster in affordable cities. Housing stock age matters — cities with older, denser housing built before the mid-20th century often have lower values simply because units are smaller and less amenity-rich. Population trends also matter: cities that experienced population loss over decades have structural housing surpluses that keep prices anchored.
Check the home value rankings for all cities or filter by state to find affordable options in your region. For renters specifically, the rent rankings show where monthly housing costs are lowest relative to local incomes.
Affordability data reflects averages across entire city boundaries — which can mask wide intra-city variation. A city's median home value might be $150,000 while a specific neighborhood averages $400,000. For granular analysis, look at county-level data and census tract profiles, which are available for every tract in America.
Affordability also doesn't exist in isolation. A "cheap" city with high vacancy, low employment, and poor public services may not be a practical choice even if the price-to-income ratio looks attractive. Use affordability rankings as one input among many.
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