As for the most affordable places to live in America, Georgia cities don’t even crack SmartAsset’s top 10.
» RELATED: Should you rent or buy in Atlanta?
Still, if you’re set on making the Peach State home, here are the state’s most affordable cities based on housing markets:
- Cusseta-Chattahoochee County
- Forest Park
- Dock Junction
Considering renting instead?
Last year, SmartAsset experts compared the total costs of buying and renting a typical home or rental in U.S. metros with a population larger than 200,000 for households earning $100,000 per year. For homeownership, analysts assumed a mortgage rate of 4.5%, closing costs of $2,000 and a 20% down payment. They then assessed the break-even point at which the total costs of renting become greater than total buying costs. Areas with the shortest time to break even are considered the top metros to buy over rent.
» RELATED: This is the salary you must earn to buy an 'average' Atlanta house right now
Atlanta ranked 17th overall for best metros in the country to buy vs rent. Here, the average monthly mortgage payment was found to be about $890, while the average monthly cost for renting a one-bedroom amounted to $1,381. The breakeven point in Atlanta is 1.9 years. Home prices in Atlanta, according to SmartAsset, average $231,274.
New numbers show an average Atlanta one-bedroom comes out to $1,036 and the median home price is $216,100. Compare that to larger East Coast cities. For example, in New York and Washington, D.C., median sales prices are $403,900 and $417,400, respectively, according to SmartAsset.