A condo or townhome typically can run a buyer 5-7 percent less than a single-family home, but some U.S. destinations have made homeownership even more affordable in the new year. According to Realtor.com, impressive savings span a diverse array of U.S. cities right now, when looking at locations where median condo prices are below $525,000. And while California hot spots may not have made the top 10, a neighboring vacay destination did!
Per the report, Delray Beach in Florida currently has some of the most affordable condo and townhome inventory in the country, where the median list price stands at $250,000. Compared to the median list price for a single-family home in Delray Beach, that’s a 79.1 percent discount to go condo.
California neighbor Reno came in at no. 2 on the list, with a 56.4 percent discount where condos go for $344,500 compared to $790,975 for a median single-family home. Reno is followed by Galveston, Texas; Myrtle Beach, South Carolina; and St.George, Utah.
The remainder of the top 10 includes Baton Rouge, Phoenix, Denver, Portland and Raleigh.