Flint, Detroit top list of most-affordable U.S. cities for homebuyers

By Elyse Apel
The Center Square

Flint and Detroit rank as the two most-affordable cities in the nation for homebuyers, according to a new WalletHub report.

The analysis compared 300 U.S. cities across key housing cost and income metrics. It measured affordability using 10 factors, including home prices relative to income, cost of living, property taxes, insurance, maintenance costs, rent-to-price ratios and housing availability.

Flint ranked first overall. The report cited the city’s low cost-of-living index, the lowest median home price per square foot in the country at about $59.

“To put that in perspective, the price in the most expensive cities is over $1,000 per square foot,” the report said.

Flint’s relatively high vacancy rates (20%) have increased housing supply. The report also found that, in many cases, buying a home in the local market is cheaper than renting.

Detroit ranked second most-affordable nationally. The analysis found the city’s median home price remains low relative to income compared with other large U.S. cities, and its median price per square foot is about $89. It also notes a vacancy rate of roughly 22%, contributing to the buyer-favorable market.

While good for homebuyers, the report highlighted broader issues that could be contributing to the cities’ top rankings and high vacancy rates.

In Flint, it pointed to the city’s “water crisis,” despite the drinking water now being in compliance with federal regulations. In Detroit, it raised concerns about the past migrations out of the city during “financial crises.”

These rankings come as housing costs and borrowing expenses remain elevated nationwide.

The median U.S. home sales price rose from $313,000 in early 2019 to $405,300 in late 2025, according to WalletHub. Meanwhile, average 30-year fixed mortgage rates climbed from 2.65% in 2021 to 6.38% in March 2026, reducing affordability for many prospective buyers.

WalletHub analyst Chip Lupo said home prices alone do not fully reflect affordability.

“Home prices alone aren’t a good enough indicator of how affordable things will be,” Lupo said. “You also have to consider how the average price compares to a typical income in the area, plus things like the overall cost of living and the costs of maintenance and taxes.”

Despite Flint and Detroit’s rankings, housing affordability remains a challenge in Michigan.

Detroit officials have described rising costs as a continuing strain on residents, with many households earning up to $75,000 spending more than 30% of income on housing, according to a 2025 city housing strategy report.

The report also noted Detroit has invested more than $100 million in affordable housing since 2018. As previously reported by The Center Square, the Michigan legislature is also considering a number of different bills in an effort to make housing more affordable in the state.

Along with Flint and Detroit, Surprise and Yuma, Arizona, and Akron, Ohio, rounded out the top five most affordable cities for homebuyers.

On the flip side, the WalletHub analysis found many of the least affordable housing markets are concentrated in California, along with parts of New York and Massachusetts, where high prices and living costs continue to outpace incomes.

Highlighting that fact, the bottom five cities were all in California: Berkeley, Glendale, Costa Mesa, Santa Monica, and Santa Barbara.