Even though housing prices in Detroit are rising, among large cities, Detroit is still pretty affordable. How affordable? A new report from SmartAsset compared home values in the largest cities in America to see how much you can get for $100,000. No surprise here, but Detroit is #1 on the list.
SmartAsset looked at data from Zillow from 2015. Then, they took $100,000 and divided it by the average home value per square foot in each city. The Midwest and the South claimed the top 10 spots in the country.
The findings determined that $100,000 can get you about 2,850 square feet in the city. Let’s remember this doesn’t factor in the condition of the house. While it may be difficult to find something that large in good condition, we regularly find decent smaller houses in the $100K range. Looking for examples? Here’s one for $100K this week, here’s one for $90K, here’s four in the $65K range, here’s another four in the $100K range from earlier this summer.
Of course, it’s a different story in the ten largest cities in the country. $100K doesn’t go far. It’ll get you a mere 186 square feet in San Jose, while in New York, you can get a whole 232 square feet. Let us know when you find them.
The full report can be accessed here.