PORTLAND, OREGON (TO COIN) — Apparently, the concept housing is inherently cheaper in cities than in small cities is essentially a fiction, in accordance with a new study by LendingTree.
For this evaluation, LendingTree compiled knowledge from the U.S. Census Bureau’s 2022 American Community Survey of fifty U.S. cities with populations between 10,000 and 50,000.
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The three U.S. cities with the best residence values are Vineyard Haven, Massachusetts ($998,100), Jackson, Wyoming ($847,300), and Breckenridge, Colorado ($760,000).
But among the many prime 25, 5 Oregon cities made the record:
7) Hood River
Total inhabitants: 23.965
Average residence worth: $492,500
Metropolitan space with comparable median residence worth: Portland, Oregon.
10) Astoria
Total inhabitants: 41.190
Average residence worth: $407,700
Metropolitan space with comparable median residence worth: Austin, Texas
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16) Prineville
Total inhabitants: 24,987
Average residence worth: $368,200
Metropolitan space with comparable median residence worth: Las Vegas, Nevada.
18) Brookings River
Total inhabitants: 23,404
Average residence worth: $353,200
Metropolitan space with comparable median residence worth: Baltimore, Maryland
25) The Dalles
Total inhabitants: 26,639
Average residence worth: $998,100
Metropolitan space with comparable median residence worth: Dallas, Texas
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Honorable Mention:
39) The Great
Total inhabitants: 26.286
Average residence worth: $243,400
Metropolitan space with comparable median residence worth: New Orleans, Louisiana.
The full rating of the 25 hottest cities is as follows:
- Vineyard Haven, Massachusetts
- Jackson, Wyoming.
- Breckenridge, Colorado
- Steamboat Springs, Colorado
- Haley, Idaho
- Gardnerville Ranchos, Nevada.
- Hood River, Oregon.
- Ellensburg, Washington.
- Los Alamos, New Mexico
- Astoria, Oregon.
- Juneau, Alaska
- Fredericksburg, Texas
- Devil’s Hills of North Carolina
- City of Maryland
- Sandpoint, Idaho
- Prineville, Oregon
- Ketchikan, Alaska
- Brookings, Oregon
- Sheridan, Wyoming.
- Montrose, Colorado
- Taos, New Mexico
- Moscow, Idaho
- Brevard, North Carolina
- Pullman, Washington
- The Dalles, Oregon
Overall, the research discovered that many cities throughout the nation have median residence values that rival or exceed these of a number of the nation’s 50 largest metropolitan areas, together with Los Angeles ($772,000) and San Francisco ($1,073,300).
This is probably going as a result of many costly cities are fashionable trip locations for extra prosperous people. According to LendingTree, these consumers should buy the housing provide that’s sometimes related to a rural space and drive costs up even additional.
Additionally, even rural cities that aren’t fashionable vacationer locations can see excessive costs merely due to the restricted actual property and housing provide within the space. This creates competitors amongst consumers and, as soon as once more, additional will increase costs.
Despite these findings, the research stated that not all properties in smaller cities are “prohibitively costly.” However, the present high-rate, high-priced actual property market makes {that a} bit more difficult.
