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From takeout to doctor visits, soaring costs mean single Americans need every advantage they can get.
That’s especially true when it comes to buying a home. As of June, the US median listing price was $440,000, according to Realtor.com, a steep cost for many Americans who live from paycheck to paycheck or are severely cost-burdened, meaning they spend more than 30% of their income on housing.
Finding an affordable home as a single buyer can be tough, but data can help you understand where the opportunities might be.
To determine where single people can buy homes and still live comfortably, Realtor.com combined national income threshold data — the minimum income needed to cover basic expenses like housing, food, and savings without financial hardship — from an analysis of MIT living wage calculator data by financial technology company SmartAsset, with its housing data.
The research team found that the 10 most affordable states for singles have median listing prices below $440,000, with monthly mortgage payments, excluding the cost of tax and home insurance, under $2,000 — based on a 6.81% interest rate for a 30-year fixed mortgage.
These states are largely in the South, reinforcing the region’s existing reputation as an affordable place to live. While familiar budget-friendly spots like Arkansas, Oklahoma, and Louisiana made the list, one Southern state was surprisingly absent: Texas.
Hannah Jones, senior economic research analyst at Realtor.com, told Business Insider that the state’s influx of movers, drawn by relatively low home prices and better job opportunities, has been a Catch-22 for its real estate market and economy.
“The booming Texas economy has driven wages higher, but the cost of living has risen as well, making it more challenging to live comfortably on one income,” she said.
Below are the 10 US states where it’s most affordable for singles to buy a home.
For each city, Business Insider used median home price and mortgage data from Realtor.com. Income data is from SmartAsset.
10. Mississippi
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Median-priced home: $295,680
Monthly mortgage payment: $1,544
The income needed to live comfortably single: $86,320
9. Louisiana
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Median-priced home: $285,000
Monthly mortgage payment: $1,488
The income needed to live comfortably single: $85,322
8. Alabama
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Median-priced home: $340,000
Monthly mortgage payment: $1,775
The income needed to live comfortably single: $85,280
7. Ohio
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Median-priced home: $289,900
Monthly mortgage payment: $1,513
The income needed to live comfortably single: $84,781
6. Oklahoma
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Median-priced home: $306,900
Monthly mortgage payment: $1,644
The income needed to live comfortably single: $83,574
5. Kentucky
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Median-priced home: $314,900
Monthly mortgage payment: $1,644
The income needed to live comfortably single: $83,574
4. North Dakota
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Median-priced home: $380,000
Monthly mortgage payment: $1,986
The income needed to live comfortably single: $82,285
3. South Dakota
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Median-priced home: $399,000
Monthly mortgage payment: $2,083
The income needed to live comfortably single: $82,160
2. Arkansas
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Median-priced home: $300,000
Monthly mortgage payment: $1,566
The income needed to live comfortably single: $81,078
1. West Virginia
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Median-priced home: $269,900
Monthly mortgage payment: $1,409
The income needed to live comfortably single: $80,829
The post The 10 most affordable states to buy a home if you’re single appeared first on Business Insider.
