Affordable Housing Trends Across the U.S.

Burnley in Lancashire has emerged as the most affordable place to buy a home in the UK, with an average property price of £105,000 and a price-to-salary ratio of 3.73. Hyndburn and Blackburn with Darwen follow closely, ranking third and seventh respectively, with average prices at £120,000 and £132,000. In the U.S., McAllen, Texas, boasts the lowest cost of living, attributed to its low home prices averaging $275,000 and no state income tax. Realtor.com highlights that McAllen's overall cost of living is 13% lower than the national average. A new GOBankingRates study has identified the best places to buy homes in each state, emphasizing the importance of location and market conditions. With rising housing costs and interest rates in the U.S., many potential buyers are seeking affordable options across various states.