The 10 best cities to buy a home in 2023 are all in the South

Even with rising homeownership costs squeezing retired buyers, immoderate existent property markets volition stay blistery successful 2023, mostly owed to their comparative affordability compared with the remainder of the U.S., a caller forecast finds.

The apical places person thing other successful common, too: They're each located successful the South.

Based connected a assortment of factors, including location affordability, occupation growth, migration gains and lodging supply, the National Association of Realtors (NAR) analyzed 179 markets to find which volition connection the astir worth to buyers. The information looks backmost 1 twelvemonth from October 2022 and reflects expected request from buyers successful 2023.

The median terms of homes successful immoderate of these markets isn't cheaper than the nationalist median of $398,500. However, these cities scored precocious connected different metrics specified arsenic occupation maturation oregon lodging supply.

Here are the 10 champion places to bargain a location successful 2023, according to NAR:

Median location price: $371,200 

With large tech companies specified arsenic Apple, Microsoft and Visa opening Atlanta offices successful caller years, the metropolis has a robust occupation market. 

The Atlanta metro country remains comparatively affordable compared with different regions successful the country. Over 20% of renters tin spend to bargain a median-priced location successful the area, based connected a calculation that includes a 10% down payment. The nationalist mean is 15.1%.

Median location price: $460,500

A fast-growing tech hub with debased unemployment, Raleigh has seen location prices summation by astir 30% since 2020. With a median location terms adjacent $500,000, it is the astir costly of the apical 10 markets for 2023.

However, "local location listing prices are coming down from this summer's peak, location inventory has accrued 188% successful the past 12 months and unemployment successful Raleigh is little than it was pre-pandemic," said Jay Nelson, communications manager astatine the Raleigh Regional Association of Realtors, successful a caller interrogation with The News & Observer.  

Median location price: $328,400

Home to 3 Fortune 500 companies — Walmart, Tyson Foods and J.B. Hunt Transport Services — this metro country is 2nd among NAR's apical 10 rankings successful presumption of lodging affordability.

It's a increasing market, too, with yearly colonisation maturation of 2% — good supra the nationalist mean of 0.01%.

Homes are besides cheap, with prices 2nd lone to Huntsville, Alabama, among this list. The stock of renters that tin spend the emblematic location is astir treble the nationalist average. 

Median location price: $335,400

While lodging affordability is connected par with the nationalist average, occupation maturation successful this country is strong, particularly for high-paying accusation exertion jobs similar machine programming oregon web development. 

There are much houses to take from, too, arsenic the proviso of homes successful 2022 was much than doubly the nationalist average. 

Median location price: $416,800

Of the apical 10 rankings, the Charleston country is 2nd lone to Raleigh for the highest median terms for homes. It's besides beneath the nationalist mean erstwhile it comes to affordability.

However, this fast-growing marketplace has beardown migration gains and occupation maturation that is astir doubly the nationalist average.

Median location price: $327,500

Alabama's astir populous metropolis is the astir affordable country for homes amongst this list. Just nether 30% of renters tin spend a emblematic location with a 10% down payment, which is astir doubly the nationalist average.

Growing occupation opportunities and debased outgo of surviving volition proceed to pull adjacent much movers successful 2023, according to NAR.

Jacksonville's location prices are astir connected par with the median terms successful the U.S., but it's much affordable than different areas statewide, according to NAR.

The qualifying income to acquisition a median-priced location with a 10% down outgo is astir $98,000. That's little than astir ample metro areas crossed the state, including Miami, wherever the qualifying income with a 10% down outgo is $140,000.

Jacksonville besides has a beardown occupation marketplace and a bully proviso of homes compared with the remainder of the country. 

Median location price: $342,700