As we have seen, pricing for housing has been going up, up, up. However, there are some states where the houses are less expensive than others. Surprisingly (or maybe not), Ohio is number 2 on the list of “10 States Where Homes Are Cheap and Taxes Are Low”, as reported by realtor.com. Only West Virginia ranks as more affordable than the buckeye state. The thought is that the reduction/loss of manufacturing in areas considered the Rust Belt, has led to more people moving out of the region and not as many moving in to the area. Itzhak Ben-David, academic director of the Ohio State University Center for Real Estate, feels the abundance of large land parcels (available for construction) and lower earnings as some of the reasons for the lower home prices. According to realtor.com, the median list price for a home in Ohio is $215,000.
Read the original article here: https://www.realtor.com/news/trends/affordability-alert-these-are-the-cheapest-states-to-buy-a-home/?identityID=62630155028b9e01a68bf683&MID=2022_0531_ArticleNL&RID=25534563262&cid=eml_promo_Marketing_NonPRSL_ArticleNL_cons.14794222_2022_0531_ArticleNL-hero-blogs_trends