Priced out of Your City? New Research Shows Where You Can Find Affordable Suburbs
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Living in the big city isn’t cheap, and for those looking to buy a home, it’s often a pipe dream — especially given today’s rising cost of living and high mortgage rates.
New analysis, however, shows that while a brownstone in Brooklyn may be out of most home seekers’ budgets, there are more affordable (and spacious) options in suburbs near the U.S.’s priciest cities. Data from the real estate research site Point2 found that homebuyers have a better chance of finding the right price if they extend their searches within commuting distance of their city of choice.
To rank the most affordable suburban alternatives, Point2 looked at the 20 most populous and expensive U.S. cities and compared the average cost per square foot of living space to that in surrounding communities.
