The 10 most affordable cities to buy a home in 2023.

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The top reasons to buy a home

One of the main reasons people buy a home is to accumulate wealth. A common statement is, "Why pay another person's mortgage and increase their assets (through rent) when you can spend the same amount of money or even less and reap the rewards?" But if you live in an expensive region, that wealth can quickly be swallowed up by a mortgage, which resembles a voracious parasite that constantly swallows funds until your bank account shrinks. This is, defiantly, called 'householding'. If you live in a''An expensive metropolis, you can avoid a small house with a hefty price tag and move to a greener - and cheaper - place. After all, cheaper doesn't necessarily mean worse.

10 most affordable cities to buy a home

Forbes Advisor analyzed 100 metropolitan areas with a population of at least 100,000 to determine the 10 most affordable cities to buy a home. We looked at several factors to gauge affordability: median income in that city, median housing costs and property taxes. "When I saw this list, I smiled. This is a great example of undervalued markets," says George Ratiu, chief economist at Realtor.com. "These are not boom-and-bust cities; they have the potential for long-term economic growth. "

1. Detroit,''tech companies like Microsoft, Google and LinkedIn. And most recently, Apple announced a partnership with the state of Michigan to open its first North American Developer Academy in Detroit. "Detroit and the surrounding areas have always been great places to live, work and play. Belle Isle Park was designed by the same group that designed Central Park in New York City," said Randolph Barker, president of the Detroit Association of Realtors.

2. Cleveland, Ohio

Cleveland is not only an affordable city, but it's also young, with a median age of about 36, which is slightly below the national average. What makes Cleveland special is its vibrancy. Located on the shores of Lake Erie, people here enjoy water sports and boating parties. For''nature lovers have an extensive network of nature preserves surrounding the city and including the beaches of Lake Erie.

3.TOLIDO, Ohio

Geographically, Toledo is in an ideal location. Located on the west shore of Lake Erie, it's only an hour's drive to Detroit, two hours to Cleveland, and about four hours to Chicago. Although Toledo has struggled with a depressed economy since the 1980s, this city in the Sprawl region has made significant strides toward a better future in recent years. According to a report from the Federal Reserve Bank of Cleveland, Toledo had the largest growth in construction employment (6.4% from March 2018 to 2019). In addition, employment in the financial activities sector also''s support for entrepreneurship in the broader Memphis area, recently told AfroTech publication that Memphis is ahead of other major metro cities in terms of black entrepreneurs' access to venture capital. In the Memphis area, about 16% of "startup companies accessing venture capital have a black founder (versus 1% nationwide), and 13% of invested startup capital went to companies with a black founder." "Memphis is the place to invest. Memphis outperforms our national investment partners, especially when looking at the percentage of black-led companies, capital received, and the percentage of amounts invested in black-led tech startups," Young says. Along with the fast-growing field''s technology, major employers in Memphis include FedEx, the Tennessee state government and the U.S. government. Memphis also recorded a 9.88% increase in average per capita income from 2018 to 2019, according to the Federal Reserve Bank. And of course, we can't forget Memphis' artistic roots, rivaling those of any other city. They rightfully hold the title of "cradle of American music" - blues, rock 'n' roll and Elvis (that's where Graceland is located). It's no wonder Memphis is called "the cradle of American music".