Best Cities in the US to Buy a Home Big Enough to Raise a Family

Imagine owning a home with a white picket fence, a yard, and a house with plenty of rooms for both pets and children. Understandably, this is the dream of everyone planning to own a home in the future. However, homes like this tend to be either expensive or located in places far from urban areas.  Moreover, they may be far from where you work. There are cities in the US with homes big enough to raise your family, perhaps concurring with your dream home.

Plano, Texas

From the study by our experts, Plano is one of the most affordable places to buy a family home in the US. The average home in Plano costs less than 20% of the local average household’s income. Interestingly, housing costs are also very affordable. Residents use less than 30% of their income on housing. With an extra disposable income, parents can look into investing in their children’s education or start up a business.

Gilbert, Arizona

Arizona, specifically the Phoenix metro area, dominates the cities with the most affordable homes. Gilbert beats out a strong challenge from the neighboring cities, Chandler and Mesa. Gilbert has relative affordability, low taxes, and high density of homes with at least two bedrooms. More than 95% of homes in this city are spacious and have at least two bedrooms.

Colorado Springs, Colorado

The average value of a home is about 18% of an average household income. Owning a home in Colorado Springs comes with another significant benefit, low property taxes. The city has an average effective property tax rate under 0.5%. That keeps down the long-term costs of owning a home within the city.

Chandler, Arizona

This city ranked right around Gilbert in every metric used in our study. For instance, Chandler has a lesser number of homeowners who are housing-cost burdened. The reason Chandler falls lower than Gilbert is that of home value change. In the last 3 years, home values in Chandler appreciated with over 35%. This is a huge disadvantage for people planning to own a home within the city.

Mesa, Arizona

Mesa is located just northeast of Chandler and Gilbert. In the past few years, this Phoenix suburb has seen explosive growth in home values. The average homeowners saw their property grow in value by over 60%. However, the major problem in Mesa is that it is less affordable for the people who live there than cities in this study. Our data indicate that about 85% of housing units in the city have at least two bedrooms.

Henderson, Nevada

Here, one may not have a difficult time finding a spacious home. According to our research, nearly 93% of all homes in Henderson have more than two bedrooms. Another reason Henderson is a great residence option for families is the rising home values. Over the last three years, the average home saw its value increase by with over 55%. This rise in the value of homes is a huge benefit to homeowners who may be planning to sell their homes.

Scottsdale, Arizona

It seems Arizona State is the best state to be when looking for a home huge enough to raise a family. The average home here is affordable for the average family, costing about 20% of the average household’s income. This cost leaves plenty of disposable income for family vacations, education savings plan, or other investments. Property taxes in Arizona are also quite low. This is another factor that makes Scottsdale a great place for families to lay down roots for the long-term.

Charlotte, North Carolina

The Queen city is by far a great residence city for any family looking for a family home in an urban environment. In the last few years, there has been a considerably huge increase in the cost of renting. In turn, this gave made homeownership a worthwhile endeavor. The average cost of owning a home in Charlotte is less than 20% of the average household income. The city’s affordability and low rates of property tax are motivating for people who want to own a home here.

Glendale, Arizona

The final Phoenix suburb to crack in this study is Glendale. Families who moved to Glendale and bought a home in the last three years have seen terrific returns on their investment. From 2015 to 2018, the average home in Glendale increased in value by over 60%. The effective property tax rate in this city is 0.6%, which is low by the standards of this study. Of course, this makes Glendale a great place to stick around for a long time.

At Mount Bonnell advisors, we give the best advice to help those who are relocating to the US. Besides, we guide people who want to buy a new house through the whole process. Get in touch with us if you need help.