Birmingham New HomesWhen it comes to real estate, Birmingham is known for its spacious homes that exude southern charm, but did you know that it is almost one of the most affordable metros for homeownership? Forbes recently compiled the list of America’s Most Affordable Cities and ranked Birmingham No. 12 on their list of the top 20.

To narrow down the list to the top 20, Forbes started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Division (MDs), all with populations of 600,000 or more (Note: Both MSAs and MDs include the cities and their surrounding suburbs). Forbes first determined each city’s housing affordability using the Housing Opportunity Index (HOI) from the National Association of Home Builders (NAHB) and Wells Fargo. To do this, median home prices are compared to median income levels to determine the percentage of homes that are affordable. Then, Forbes weighted these factors with the methodology the Bureau of Labor Statistics uses for the weightings of its Consumer Price Index.

In addition to Birmingham, there were six southern cities included on the list. The 20 cities to be featured as America’s Most Affordable Cities include:

  1. Buffalo, New York
  2. Memphis, Tennessee
  3. Cincinnati, Ohio
  4. Dayton, Ohio
  5. Knoxville, Tennessee
  6. Akron, Ohio
  7. Grand Rapids, Michigan
  8. Louisville, Kentucky
  9. Oklahoma City, Oklahoma
  10. Warren, Michigan
  11. Toledo, Ohio (tie)

Detroit, Michigan (tie)

  1. Birmingham, Alabama
  2. St. Louis, Missouri
  3. Virginia Beach, Virginia
  4. Jacksonville, Florida
  5. Pittsburgh, Pennsylvania
  6. Tulsa, Oklahoma
  7. Tampa, Florida
  8. Syracuse, New York
  9. Columbus, Ohio

Based on the statistics reported by Forbes, 75.3 percent of Birmingham residents making the median income can afford the median home price. As of this month, the median home price in Birmingham was $167,000.

At Harris Doyle Homes, we offer beautiful new homes in several Birmingham locations. With affordable pricing and upscale interiors, these homes are perfect for buyers looking to achieve their goal of homeownership in Birmingham. For more information on how you can purchase a new home in one of America’s Most Affordable Cities from one of Birmingham’s top home builders, visit the Harris Doyle Homes website today.