Nerd Wallet did a recent survey of the most expensive and least expensive areas to live and broke it down by TIME ZONE. The cheapest metro area in the Pacific time zone was Richond, Washington. For the Mountain time zone? El Paso, Texas, and for the Central time zone? Decatur, Illinois... Let's take a look at what your money buys in those three cities...
Pacific Time Zone - Least Expensive: Richmond, WA
Median home price: $278,400 (national median price: $257,600)
The recent snowstorms up north cooled this home's asking price downward.
Find me a 3-car garage home in Socal under $400k besides Palmdale.
For the median home in SoCal (around $549k) you get 1,800 sf. Here? 4,756!
From 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population.
Mountain Time Zone - Least Expensive: El Paso, TX
Median home price: $157,900
Brand new house, for the same payment as a BMW 5 Series.
Try this in Palm Springs... Price would be $800k minimum.
The market in El Paso is soft too! 40 days on market and discounted, for a 2009 5 br home!
Where is everybody going?
Massachusetts? Fine, Patriots fans, good riddance.
Central Time Zone - Least Expensive: Decatur, IL
Median home price: $89,300
Reminds me of Steve Martin's home in 'Parenthood'.
$104/month for a 3 BR FIXER!! I know people who spend that much in Lattes each month.
According to data, California is still picking up new residents from 2 major areas. 26-35 year-olds from Illinois and New York are flocking here, followed by 18-25 year olds from Florida. Among all age ranges, Texas is the favorite of those who are leaving.
HOW ABOUT YOU? If you are thinking of cashing in your chips or know someone who is, there will likely never be a better time to do so than now, at the height of the market, with massive price differences vs. hundreds of other cities in the U.S. You could walk away with enough money to buy a home in these cities for CASH, with no mortgage at all! Call me and let's talk.