Wednesday, August 01, 2007

Yes, You Can Afford a Home

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Looking for a place to live. According to Money Magazine, here are the top 5 towns, yes towns and not cities, where you can own a home and stretch your dollar to the max.

Northbrook, Ohio
Median family income: $59,902
Median home price (2006): $83,760

This sleepy Cincinnati suburb has more than 11,000 people and some of the best housing buys in a region known for affordable places to live. Northbrook is one of many Ohio communities benefiting from an influx of out-of-state buyers looking for investment properties. Prices, however, remain reasonable and the community has managed to maintain its character.

Blacklick Estates, Ohio
Median family income: $59,172
Median home price (2006): $83,480

A short drive from the flourishing state capital of Columbus, Blacklick Estates provides a pastoral setting with good schools nearby and a number of activities within walking distance.

Tonawanda, New York
Median family income: $51,819
Median home price (2006): $74,878

Tonawanda commonly refers to several towns in Western New York, but in this case we’re talking about the two that run along the Niagara River with attractive affordable homes. On the high end, you can get a ranch with 3 bedrooms and two baths for $119,000, but most properties go for under $100,000.

Shiloh, Ohio
Median family income: $54,079
Median home price (2006): $79,722

“Shiloh” is the name of four towns in Ohio, but this Shiloh is the one in Montgomery County. The city has an abundance of neatly kept, smartly priced homes where fixer-uppers start in the mid-60s and where you can get a three-bedroom house with a garage for about $135,000.

West Mifflin, Pennsylvania
Median family income: $52,771
Median home price (2006): $81,113

West Mifflin provides easy access to downtown Pittsburgh and late-model split-levels go for $189,000, while wide open spaces can be purchased for a reasonable $50,000 an acre.