If You Want America’s Most Affordable Housing, Gotta Go to Kansas
If you want absolutely the most affordable housing in America, where do you go? A brand new 2023 study says that if saving money on a house is your goal, you're gonna have to go to Kansas. Oh, boy.
I need to say first that I'm not a Kansas hater (unless we're talking about the Jayhawks). I appreciate the values of many Kansas residents and their hard-working farm ethic. The first hour of driving across Kansas (which I've sadly done many times) is actually kind of pretty. The other 5 hours...well...ugh.
Back to that affordable housing point I was trying to make. Reality Hop just released a brand new study based on a lot of science I don't understand. It involves a lot of median income and other fancy financial talk, but the end result is they say that Wichita, Kansas is the #1 most affordable housing market in America. Here's a snippet of how they came to that conclusion:
the median asking price for a home decreased from $149,900 to $145,000. An average household earning $59,861 annually will now only need to spend 16.36% of their income on homeownership costs
I'll pretend I understand that. The simple version is you'll spend a lower percentage of your income on housing in good ole Kansas. Got it.
Now to my next point...just because you can move to Kansas doesn't mean you should. Personally, I'd be a little concerned about the likelihood that one of their infamous wedge tornadoes would relocate my very affordable home, but that's just me.
But, maybe Wizard of Oz was wrong. Maybe we are in Kansas now. Ugh.