Home to the blues, hearty food, and captivating history, Mississippi, also known as the Magnolia State, has something in store for everyone. While Mississippi is full of greatness, every place has its drawbacks. Whether you’re looking at homes for sale in Jackson, apartments in Hattiesburg, or wondering if Mississippi is a gcost oood place to live, we’ve got you covered. Here are ten pros and cons of living in Mississippi before making this state your new home.
Pros of living in Mississippi
1. You can get an affordable higher education
Higher education is an expensive investment anywhere in the U.S. Still, compared to other states, Mississippi has a lower cost of higher education, perfect for anyone looking to stay on budget. Mississippi is the fifth-cheapest state for a college degree for out-of-state students, and even less for those already residing there. Community colleges and private universities can be found throughout the state and offer many options and opportunities for anyone interested.
2. There are many affordable housing options available
Mississippi has relatively low housing costs compared to the rest of the country. The median home sale price is $244,000, and it’s even less if you look at areas outside the capital like Florence. There are plenty of affordable places to live in Mississippi. Along with homes for sale, you’ll find affordable rent prices too. A two-bedroom apartment in Mississippi’s capital Jackson averages $962 compared to popular metros like Seattle, where you’ll find a two-bedroom averaging around $3,234. If you’re deciding which city to call home, using tools like a cost of living calculator will help you make an informed decision and help you budget your expenses.
3. Mississippi is full of history
There are many great places to learn about America’s past, from museums to Civil War battlefields and the capital. Explore the antebellum architecture in the state, like Stanton Hall, which occupies an entire block in downtown Natchez. Or head to Vicksburg National Military Park, which preserves the site of the Civil War Battle of Vicksburg. You’ll learn about the past just about everywhere you go.
4. Nature is abundant in this state
Take a walk through the foothills of the Appalachian Mountains at Tishomingo State Park, and view the unique rock formations and trees. Or if you’re searching for amazing views, you’ll want to check out the Mississippi petrified forest. Located near Flora, this 36 million old forest will invite you to immerse yourself in wildflowers, pine, and cedar.
5. Mississippi is a musical state
From jazz, bluegrass, country, gospel, and more, the Magnolia State has a deeply rooted history in music that is prevalent today. The blues originated in the state’s southern plantations and was carried throughout the Civil Rights Movement. Elvis Presley was born in Tupelo in northern Mississippi, where he continued incorporating blues into his songs. You’ll find nightclubs and museums dedicated to the state’s ties with music all throughout the area.
Cons of living in Mississippi
1. Scorching heat and humidity in the summer
During the summer months, Mississippi ranks as one of the hottest and most humid places in the U.S. Temperatures range from mid to high 90s degrees Fahrenheit along with high humidity levels in May through September.
2. Prone to thunderstorms and flooding
The climate and location play a massive role in the risk of natural disasters in Mississippi – especially in the south. You’ll need to prepare for heavy rains that can lead to flooding, winds, and hailstorms. The hail in Mississippi can be massive and can cause damage to your or your property. Before moving to Mississippi, you’ll want to research the flood risk in your area and learn to storm proof your home.
3. Mississippi is a dangerous state to drive in
Mississippi can be a dangerous state to drive in due to its high number of rural roads. Rural roads are four times more dangerous than roads in the city, and Mississippi has many of them.
4. Pesky bugs may be a nuisance in the summer
You’ll want to ensure you have your bug spray in the summer. Mosquitos, ticks, horseflies, deer flies, and more populate in the summer and there are bound to be pesky bugs that won’t leave you alone. To avoid these insects, you’ll want to steer clear of standing water like ponds, lakes, and swampy areas, where they’re sure to lay their eggs. If you want to limit these insects from your home, you’ll want to eliminate water sources and keep your trash locked up.
5. There is flesh-eating bacteria in the coastal waters
Although a rare occurrence, Mississippi is home to flesh-eating bacteria called Vibrio vulnificus which can be life-threatening. Vibrio vulnificus lives in warm coastal waters, so if you have open wounds, including cuts and scrapes, you should consider staying out of brackish water. You can also find these bacteria in raw seafood or its juices, so you’ll want to be cautious when eating these foods.
The pros and cons of living in Mississippi: Bottom line
The Magnolia State is great for those looking for a more affordable place to live. Future residents will enjoy great music, beautiful scenery, and deep history. Although there are significant advantages to living here, there are cons to consider. So If you are thinking of relocating to this state, you’ll want to weigh the pros and cons of living in Mississippi to see if it aligns with you and your lifestyle.
Aurora, IL, “City of Lights,” is quickly becoming home for many Illinoisans and out-of-staters alike. There are countless things to do in the city, whether you visit the Aurora Regional Fire Museum, relax at Phillips Park Zoo, check out Aurora West Forest Preserve, or take in the riverfront views at McCullough Park. No wonder 180,500 people are living in Aurora.
And if you’re considering renting or buying a home in Aurora, there are four things you should know. The housing market is somewhat competitive, the median home sale price is $275,000, the average sale price per square foot is $166, and the average rent price for a two-bedroom apartment in Aurora is $1,825.
If those prices don’t fit into your budget, don’t worry. We’ve rounded up a list of the 7 best affordable suburbs near Aurora, IL, to consider living in – and they’re all under a 25-minute drive from the city. That way, you can live close to Aurora and all its unique activities without paying the premium price of owning a home there.
#1: North Aurora
Median home price: $248,000
Average sale price per square foot: $174
Driving distance from Aurora: 10 minutes
North Aurora, IL homes for sale
North Aurora, IL apartments for rent
With a median home sale price of $248,000,North Aurora, takes the number one spot on our list of affordable Aurora suburbs. Just about a 10-minute drive away from Aurora, you won’t miss out on what the city has to offer. Living in North Aurora, you can explore North Aurora Island Park and hike through Red Oak Nature Center.
#2: Montgomery
Median home price: $250,000
Average sale price per square foot: $169
Average rent for a 2-bedroom apartment: $2,145
Driving distance from Aurora: 25 minutes
Montgomery, IL homes for sale
Montgomery, IL apartments for rent
Taking the second spot on our list is Montgomery. Only 25 minutes from the city center, you can tour the Aurora Regional Fire Museum in no time. Living in Montgomery, you’ll want to spend the afternoon at Jericho Lake Park, hike the trails at Blackberry Trail Park, or grab a meal along the riverfront.
#3: Boulder Hill
Median home price: $257,000
Average sale price per square foot: $186
Driving distance from Aurora: 10 minutes
Boulder Hill, IL homes for sale
Boulder Hill, IL apartments for rent
Just 10 minutes away, you’ll find the suburb of Boulder Hill. From parks and outdoor recreation to shopping, there are lots of things that make Boulder Hill a great place to live. If you decide to move to our third most affordable suburb, make sure to visit one of the many local shops and attractions.
#4: Yorkville
Median home price: $269,990
Average sale price per square foot: $158
Driving distance from Aurora: 20 minutes
Yorkville, IL homes for sale
Yorkville, IL apartments for rent
Only slightly more expensive than Boulder Hill is Yorkville, the next suburb on our list. About 21,500 people live in this Aurora suburb, where you can explore the Bicentennial Riverfront Park and check out the quaint downtown.
#5: Oswego
Median home price: $340,000
Average sale price per square foot: $156
Driving distance from Aurora: 10 minutes
Oswego, IL homes for sale
Oswego, IL apartments for rent
Drive 10 minutes outside of Aurora and you’ll find the suburb of Oswego, another great area to add to your list. Home to 34,600 residents, this affordable town can be a great choice for people looking to remain close to Aurora without paying the price for a home in the city. In Oswego, you can visit the Little White School Museum, attend the Oswego Heritage Days Festival, or take a fishing trip on the Fox River.
#6: Sugar Grove
Median home price: $395,000
Average sale price per square foot: $162
Driving distance from Aurora: 15 minutes
Sugar Grove, IL homes for sale
Sugar Grove, IL apartments for rent
Sixth on the list is another one of the well-known suburbs near Aurora, IL, Sugar Grove. Home to roughly 9,300 people, Sugar Grove is a great suburb to consider renting or buying a home in. And you’ll have easy access to what makes this suburb special. Make sure to visit the Air Classics Museum or go camping at the nearby Big Rock Campground.
#7: St. Charles
Median home price: $460,000
Average sale price per square foot: $183
Driving distance from Aurora: 25 minutes
St. Charles, IL homes for sale
St. Charles, IL apartments for rent
Rounding out our list of affordable suburbs near Aurora, IL, is none other than St. Charles. With a population of nearly 33,100, St. Charles is a great area to live in that’s smaller than Aurora. If you’re going to call this area home, plan time to take a scenic stroll along the Fox River, tour the historic Arcada Theatre, visit the St. Charles History Museum, and check out the Victorian homes of the St. Charles Historic District.
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Aurora and under a 25-minute drive from downtown Aurora. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Naperville is one of many great areas to live in Illinois and the Midwest. There are countless things to do in the city, whether you visit the Naperville Riverwalk, explore the Knoch Knolls Nature Center, visit one of the many restaurants in Naperville, or tour the Naper Settlement, an outdoor museum where you can learn about Naperville’s history and culture. No wonder 149,500 people live in Naperville.
As you start your homebuying or renting journey, there are four key points to know. The housing market is somewhat competitive, the median home sale price is $465,000, the average sale price per square foot is $211, and the average rent price for a two-bedroom apartment in Naperville is $2,093.
If those prices don’t fit into your budget, don’t worry. We’ve collected the 8 best affordable suburbs near Naperville, IL, to consider moving to. And they’re all less than 25 minutes away from the city center. That way, you can live nearby without paying the price of living in Naperville.
#1: Romeoville
Median home price: $245,000
Average sale price per square foot: $155
Average rent for a 2-bedroom apartment: $2,093
Driving distance from Naperville: 20 minutes
Romeoville, IL homes for sale
Romeoville, IL apartments for rent
With a median home sale price of nearly $220K less than Naperville, Romeoville lands the number one spot on our list as the most affordable Naperville suburb. Just about a 20-minute drive away from Naperville, you won’t miss out on what the city has to offer. If you’re considering moving to Romeoville, make sure to explore the O’Hara Woods Preserve or check out Isle a la Cache Museum.
#2: Warrenville
Median home price: $270,000
Average sale price per square foot: $188
Average rent for a 2-bedroom apartment: $2,418
Driving distance from Naperville: 15 minutes
Warrenville, IL homes for sale
Warrenville, IL apartments for rent
Just a little more expensive than Romeoville is the town of Warrenville. Only 15 minutes from the city center, you can visit the Naperville Riverwalk in just a quick drive. Make sure to visit the beautiful Warrenville Grove and the rest of the Blackwell Forest Preserve, or take a stroll through historic Downtown Warrenville and check out the unique shops and restaurants.
#3: West Chicago
Median home price: $310,000
Average sale price per square foot: $175
Driving distance from Naperville: 25 minutes
West Chicago, IL homes for sale
West Chicago, IL apartments for rent
25 minutes away from downtown, you’ll find yourself in the suburb of West Chicago. From parks and outdoor recreation to shopping and dining, there are lots of things that make West Chicago a great place to live. Make sure to explore the West Chicago Prairie Forest Preserve if you move to our third most affordable Naperville suburb.
#4: Bolingbrook
Median home price: $320,000
Average sale price per square foot: $171
Average rent for a 2-bedroom apartment: $1,357
Driving distance from Naperville: 20 minutes
Bolingbrook, IL homes for sale
Bolingbrook, IL apartments for rent
A little more expensive than West Chicago is Bolingbrook, the next suburb on our list. With roughly 73,900 residents in this Naperville suburb, make sure to spend the day at Pelican Harbor Indoor/Outdoor Aquatic Park, tour the Illinois Aviation Museum, or grab a bite to eat at a local restaurant.
#5: Woodridge
Median home price: $335,000
Average sale price per square foot: $179
Average rent for a 2-bedroom apartment: $1,662
Driving distance from Naperville: 10 minutes
Woodridge, IL homes for sale
Woodridge, IL apartments for rent
Drive 10 minutes outside Naperville, and you’ll find the suburb of Woodridge. With 34,200 people living in this affordable town, Woodridge is a great option to consider when looking to stay close to Naperville without paying the premium for a home in the city. Living in Woodridge, you can enjoy the afternoon at one of the many parks like Lake Harriet Park, visit the Cypress Cove Family Aquatic Park, and ice skate or play hockey at Seven Bridges Ice Arena.
#6: Plainfield
Median home price: $339,900
Average sale price per square foot: $173
Driving distance from Naperville: 20 minutes
Plainfield, IL homes for sale
Plainfield, IL apartments for rent
Another noteworthy suburb near Naperville, IL, is Plainfield, where the median home sale price is about $130K less than in Naperville. Home to roughly 44,800 people, Plainfield is a great suburb to consider moving to. There are lots of activities in this suburb – you can hike the trails at Lake Renwick Preserve, visit the Lockport Street Gallery, and explore the Plainfield Historic District, among many other local favorites.
#7: Winfield
Median home price: $365,250
Average sale price per square foot: $173
Driving distance from Naperville: 20 minutes
Winfield, IL homes for sale
Winfield, IL apartments for rent
Next on our list of affordable suburbs near Naperville, IL, is Winfield, which is only a 20-minute drive into the city center. With a population of close to 9,800, living in Winfield is a great alternative to city life. If you find yourself moving to this suburb, make sure to visit the Winfield Historical Museum, take a stroll around the Winfield Town Square, or spend the afternoon at one of the local parks.
#8: Downers Grove
Median home price: $398,500
Average sale price per square foot: $196
Driving distance from Naperville: 20 minutes
Downers Grove, IL homes for sale
Downers Grove, IL apartments for rent
Last but not least on our list of most affordable suburbs near Naperville, IL, is Downers Grove. Roughly 50,200 residents call this affordable suburb home, so you’ll have a fraction of Naperville’s population while remaining close to the city and its attractions. Once moving to Downers Grove, you’ll want to visit the Downers Grove Museum, check out the historic downtown Downers Grove, or go for a hike at Lyman Woods.
Affordable things to do in Naperville
1. Walk downtown Naperville
“My favorite thing to do within the cozy suburb of Naperville is walk around downtown Naperville with my two dogs,” suggests local photographer Jillian Hoffman. “I love to explore the beautiful scenery of the river walk and grab a sweet treat along the way for myself and my companions. There is no bad time to explore the beautiful downtown area with so much to see and do.”
2. Naperville Jaycees Last Fling
“The Naperville Jaycees Last Fling takes place over Labor Day Weekend each year,” recommends Karen Coleman. “It is a free event to attend event including a carnival, music, food and fun and is the very best way to end the summer.”
3. Stroll the Riverwalk
“My favorite thing to do in Downtown Naperville is to stroll along the Riverwalk,” suggests Ask Aunt V. “The scenery is lovely all year long. It is fun for all ages because there is something for everyone, like watching wildlife, visiting playgrounds, exercising, and listening to music.”
Sheena Magnesen Photography also recommends this budget-friendly activity, “My favorite thing to do in Naperville is to walk along the river walk. There are plenty of restaurants and boutiques to visit, but the water and covered bridges are beautiful landmarks to wander around. Packing a picnic and sitting in one of the many parks is one of my family’s favorite things.”
4. St. James Farm Forest Preserve
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Naperville and under a 25-minute drive from downtown Naperville. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Often called “City in a Park,” Bellevue, WA, is an iconic Pacific Northwest city situated across Lake Washington from Seattle. Bellevue is home to 151,900 people and is known for its array of outdoor activities and its thriving tech industry.
As you begin your homebuying or renting journey, there are four things you should know. The housing market is very competitive, the median home sale price is $1,300,000, the average sale price per square foot is $595, and the average rent price for a two-bedroom apartment in Bellevue is $3,641.
Don’t worry if those prices don’t fit in your budget – we’ve got options to help you find a home or apartment that does. We’ve collected a list of the 10 best affordable Bellevue suburbs. And they’re all less than 25 minutes away from the city. No matter where you live, you’ll still be close enough to Bellevue to explore the city’s great neighborhoods without the price of living there.
#1: Renton
Median home price: $699,000
Average sale price per square foot: $384
Average rent for a 2-bedroom apartment: $3,034
Driving distance from Bellevue: 20 minutes
Renton, WA homes for sale
Renton, WA apartments for rent
With a median home sale price of $699,000, Renton claims the first spot on our list of affordable Bellevue suburbs. About 106,800 people live in this suburban area, and you’ll only be about a 20-minute drive from downtown Bellevue. If you’re considering moving to Renton, visit the Renton History Museum to learn about the city and check out Liberty Park to enjoy the flowers and greenery.
#2: Kenmore
Median home price: $866,450
Average sale price per square foot: $447
Average rent for a 2-bedroom apartment: $1,845
Driving distance from Bellevue: 20 minutes
Kenmore, WA homes for sale
Kenmore, WA apartments for rent
Taking the second spot on our list is Kenmore. The same distance from Bellevue as Renton, you can visit the Bellevue Arts Museum and Bellevue Botanical Garden in just a quick drive. Some popular things to explore in Kenmore include walking along the shore of Lake Washington, visiting Saint Edward State Park, or grabbing a bite at one of Kenmore’s many restaurants.
#3: Bothell
Median home price: $885,000
Average sale price per square foot: $463
Driving distance from Bellevue: 20 minutes
Bothell, WA homes for sale
Bothell, WA apartments for rent
Drive just 20 minutes north of Bellevue, and you’ll reach Bothell, another great suburb. From parks and outdoor recreation to supporting local businesses, there are lots of things that make Bothell a great place to live. Make sure to explore the University of Washington Bothell campus, visit the North Creek wetland preserve, and check out the local shops and restaurants in downtown Bothell.
#4: Issaquah
Median home price: $1,042,500
Average sale price per square foot: $499
Average rent for a 2-bedroom apartment: $2,465
Driving distance from Bellevue: 20 minutes
Issaquah, WA homes for sale
Issaquah, WA apartments for rent
Only slightly more expensive than Bothell is none other than Issaquah. There are several top attractions you may want to check out in this Bellevue suburb. Make sure to visit Cougar Mountain Zoo and Cougar Mountain Regional Wildland Park, hike up Tiger Mountain, or spend a sunny day at Lake Sammamish State Park.
#5: Kirkland
Median home price: $1,075,000
Average sale price per square foot: $641
Average rent for a 2-bedroom apartment: $2,995
Driving distance from Bellevue: 15 minutes
Kirkland, WA homes for sale
Kirkland, WA apartments for rent
15 minutes from downtown Bellevue is Kirkland, another great suburb to consider moving to. Home to 92,200 residents, this affordable town can be a great choice for people looking to remain close to Bellevue without paying the price for a home in the city. Living in Kirkland, you can visit the Kirkland waterfront, explore charming Downtown Kirkland, and grab a beer or bite to eat at one of the many local breweries and restaurants.
#6: Redmond
Median home price: $1,185,000
Average sale price per square foot: $608
Driving distance from Bellevue: 15 minutes
Redmond, WA homes for sale
Redmond, WA apartments for rent
Another well-known Bellevue suburb is Redmond, where the median home sale price is about $115K less than in Bellevue. Redmond has about 73,300 residents and is a great suburb to consider moving to. There are lots of activities to keep you busy in Redmond. You can take a tour of the Microsoft campus, walk or bike ride through Marymoor Park or catch a concert during the summer, visit the Redmond Town Center, and check out the Sammamish River Trail.
#7: Cottage Lake
Median home price: $1,200,000
Average sale price per square foot: $475
Driving distance from Bellevue: 25 minutes
Cottage Lake, WA homes for sale
Cottage Lake, WA apartments for rent
Next on our list of affordable Bellevue suburbs is Cottage Lake, which is almost a 25-minute drive into downtown. With a population of close to 22,900, living in Cottage Lake is a great alternative to the hustle and bustle of Bellevue. If you’re going to call this area home, plan to visit Cottage Lake Park and take a stroll through the beautiful woods, have a picnic at the Cottage Lake Beach, or go fishing, kayaking, or canoeing at Cottage Lake.
#8: Woodinville
Median home price: $1,200,000
Average sale price per square foot: $479
Driving distance from Bellevue: 20 minutes
Woodinville, WA homes for sale
Woodinville, WA apartments for rent
If you’ve lived in or around Bellevue for a while, chances are you know of our eighth suburb – Woodinville. This affordable area is home to about 13,100 residents, so you’ll have a fraction of Bellevue’s population while remaining only 20 minutes from the city. Visit one of the countless wineries and breweries in the area, like Chateau Ste. Michelle Winery or Redhook Brewery, take a walk through Hollywood Hills Park, or check out one of the parks along Sammamish River once living in Woodinville.
#9: Union Hill-Novelty Hill
Median home price: $1,270,000
Average sale price per square foot: $550
Driving distance from Bellevue: 25 minutes
Union Hill-Novelty Hill, WA homes for sale
Union Hill-Novelty Hill, WA apartments for rent
A great place to consider moving to that will get you access to downtown Bellevue in just about 25 minutes is Union Hill-Novelty Hill. Close to 22,700 people live in this suburb, but there are plenty of things to do in Union Hill-Novelty Hill.
#10: Sammamish
Median home price: $1,345,000
Average sale price per square foot: $535
Driving distance from Bellevue: 25 minutes
Sammamish, WA homes for sale
Sammamish, WA apartments for rent
Last but not least on our list of affordable Bellevue suburbs is Sammamish. Without traffic, you’ll find yourself in Bellevue in roughly 25 minutes. This suburb has a population of 67,500, and there are countless things to do, like taking a walk along the Sammamish River Trail and having a picnic at Pine Lake Park. Make sure to enjoy all that Lake Sammamish offers – fishing, swimming, boating, paddle boarding, and more. You’ll have plenty of activities to explore while living in this charming town.
Affordable things to do in Bellevue
1. Bellevue Botanical Garden
“Our favorite free activity in Bellevue, WA, is a stroll at the Bellevue Botanical Garden,” recommends Copper Kettle Coffee Bar. “Appreciate the most dazzling floral displays, submerge yourself in the calming nature, and enjoy a cup of carefully crafted coffee to complete the oasis experience.”
2. Surrey Downs Park
“Our favorite thing to do near Cerasa Apartments is taking a quick 12-minute walk over to Surrey Downs Park,” suggests Cerasa Apartments. “The park has beautiful grounds, a playground, and many park benches perfect for an afternoon outing with family and friends.”
3. Kelsey Creek Farm
“My favorite affordable thing to do in Bellevue is look at farm animals at Kelsey Creek Farm,” recommends Shan Lu Photography. “It’s free; they have horses, goats, chickens, etc. Along with large, empty spaces for biking and running, forests, and beautiful lawns for picnics. There’s also a playground area that the younger kids love. And make sure you attend seasonal events like sheep shearing and the pumpkin festival.”
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Bellevue and under a 25-minute drive from downtown Bellevue. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Irvine has become a destination for many people moving to Southern California. About 307,700 people live in Irvine, and the city has many corporate headquarters for companies such as Taco Bell, Asics, and Vizio. It’s also well-known for being the home of the University of California, Irvine.
If you’re considering buying a home in Irvine, expect the median home sale price to be around $1,225,000, and the average sale price per square foot is $659. For renters, the average rent for a two-bedroom apartment in Irvine is about $3,557.
If those numbers are out of your budget, don’t worry, we’ve got options to help you find a home. We’ve gathered a list of the 10 best affordable Irvine suburbs to check out. And they’re all less than 25 minutes away from the city. That way, you can live near Irvine and all its unique activities without paying the premium price of living there.
#1: Laguna Woods
Median home price: $365,000
Average sale price per square foot: $376
Driving distance from Irvine: 20 minutes
Laguna Woods, CA homes for sale
Laguna Woods, CA apartments for rent
With a median home sale price of nearly $860K less than Irvine, Laguna Woods is the most affordable Irvine suburb on our list. Just about a 20-minute drive away from Irvine, you won’t miss out on what the city has to offer. If you’re considering moving to this area, make sure to visit the Laguna Woods Golf Club and the Laguna Woods History Center.
#2: Santa Ana
Median home price: $771,000
Average sale price per square foot: $538
Average rent for a 2-bedroom apartment: $2,902
Driving distance from Irvine: 15 minutes
Santa Ana, CA homes for sale
Santa Ana, CA apartments for rent
Santa Ana comes in as the second most affordable suburb in Irvine. Just about 15 minutes from Irvine, you can visit the Great Park and Turtle Rock Community Park in just a quick drive. Some popular attractions in Santa Ana include visiting the Santa Ana Historic District, sampling craft beer at the 4th Street Market, and walking along the Santa Ana River Trail. You’ll always find a new reason to love living in this suburb of 310,000 people.
#3: Aliso Viejo
Median home price: $847,500
Average sale price per square foot: $592
Driving distance from Irvine: 20 minutes
Aliso Viejo, CA homes for sale
Aliso Viejo, CA apartments for rent
Aliso Viejo takes the third spot on our list, with a median home sale price of $847,500 and only a 20-minute drive away. Even with a population of about 52,200, there are plenty of cool areas to explore in Aliso Viejo. If you’re moving to the third most affordable suburb, visit the Aliso Viejo Town Center for shopping and dining, take a stroll or bike ride along the Aliso Creek Trail, or explore one of the many parks in the area.
“My favorite affordable thing to do is walk the Mission Viejo Lake with my family. The view is amazing and we always have a great time,” recommends Daniel Seong from Great Park Insurance.
#4: Rancho Santa Margarita
Median home price: $850,000
Average sale price per square foot: $544
Average rent for a 2-bedroom apartment: $2,960
Driving distance from Irvine: 25 minutes
Rancho Santa Margarita, CA homes for sale
Rancho Santa Margarita, CA apartments for rent
A little more expensive than Aliso Viejo is the suburb of Rancho Santa Margarita. With a population close to 48,000, there’s still plenty to do in this Irvine suburb. Plan to spend the day kayaking on the lake at O’Neill Regional Park, visit the Rancho Santa Margarita Lake Park, or play golf at one of the local courses.
#5: Mission Viejo
Median home price: $899,000
Average sale price per square foot: $551
Average rent for a 2-bedroom apartment: $2,986
Driving distance from Irvine: 20 minutes
Mission Viejo, CA homes for sale
Mission Viejo, CA apartments for rent
20 minutes away from downtown Irvine is Mission Viejo, another great suburb to consider moving to. Home to 93,700 residents, this affordable town can be a great choice for people looking to remain close to Irvine without paying the price for a home in the city. Living in Mission Viejo, you can visit the Oso Creek Trail, head to Florence Joyner Olympiad Park, or take a dip in the Casta del Sol Community Pool.
#6: Tustin
Median home price: $930,000
Average sale price per square foot: $559
Driving distance from Irvine: 15 minutes
Tustin, CA homes for sale
Tustin, CA apartments for rent
A recognizable Irvine suburb is Tustin, where the home prices are about $200K less than in Irvine. Tustin has about 80,300 residents and is a great suburb to consider buying or renting a home in. Make sure to check out the Tustin Market Place for shopping and dining, play a round of golf at the Tustin Ranch Golf Course, and visit the Tustin Historical Museum. You’ll never tire of exploring this great suburb.
#7: Costa Mesa
Median home price: $1,169,500
Average sale price per square foot: $706
Driving distance from Irvine: 10 minutes
Costa Mesa, CA homes for sale
Costa Mesa, CA apartments for rent
Seventh on our list of affordable Irvine suburbs is Costa Mesa, roughly a 10-minute drive into the city center. With a population of roughly 111,900, you’ll live in a smaller area, but there’s no shortage of things to experience in Costa Mesa. Check out an event at the Orange County Fairgrounds, play golf at one of the courses, or take a short drive to Newport Beach to spend the afternoon in the sun once living in this suburb.
#8: Huntington Beach
Median home price: $1,180,000
Average sale price per square foot: $652
Driving distance from Irvine: 25 minutes
Huntington Beach, CA homes for sale
Huntington Beach, CA apartments for rent
If you’ve lived in Irvine for a while, chances are you know of Huntington Beach or have spent a beach day there. About 198,700 people live in Huntington Beach, so you’ll have a fraction of Irvine’s population while remaining only 25 minutes from the city. Be sure to take a surf lesson at Huntington Beach State Park, explore the International Surfing Museum, and end the day by watching a beautiful sunset at the Huntington Beach Pier.
#9: Fountain Valley
Median home price: $1,200,000
Average sale price per square foot: $622
Driving distance from Irvine: 15 minutes
Fountain Valley, CA homes for sale
Fountain Valley, CA apartments for rent
Fountain Valley is a great place to consider moving to that will get you access to downtown Irvine in just about 15 minutes. Close to 57,000 people live in this suburb, but there are plenty of activities in Fountain Valley. Popular things to do in Fountain Valley include exploring Mile Square Regional Park, going to the Fountain Valley Skating Center, or taking a stroll along the Santa Ana River Trail.
#10: Laguna Hills
Median home price: $1,210,000
Average sale price per square foot: $563
Driving distance from Irvine: 20 minutes
Laguna Hills, CA homes for sale
Laguna Hills, CA apartments for rent
Last but not least on our list of affordable Irvine suburbs is Laguna Hills. On a rare traffic-free day in Orange County, it’ll only take about 20 minutes to drive into Irvine. This suburb has a population of 31,400, and you can visit one of the many parks like Moulton Ranch Park, Sheep Hills Park, or Nellie Gale Ranch, and be sure to check out Mythea Castle. There’s plenty to do on an afternoon or weekend while living in this awesome suburb.
Affordable things to do in Irvine
1. Angelina’s Pizzeria
“My favorite affordable thing to do in Irvine, California is to drink authentic Italian wine at Angelina’s Pizzeria. They host a wine tasting every Saturday,” recommends Johnny Azzi. “I love going with my friends and I would recommend it to all wine lovers.”
2. Great Park Trails
“One of our favorite free or budget-friendly activities in Irvine is walking, jogging, or biking through the natural landscapes within the Great Park Trails by Great Park Neighborhoods,” suggests FivePoint. “There are three excellent trails under crossings and plenty of shaded benches along the way to take a breather. It’s peaceful, picturesque, and a perfect place to pack a picnic and bring your kids as there’s an adjoining children’s playground.”
3. Make reservations at Tanaka Farms
“It’s not widely known that you can make dinner tonight in Irvine with the produce you picked,” provides Greer Wylder. “My family and I love to go to Tanaka Farms in Irvine for a U-Pick Wagon Ride that includes a wagon ride around the farm, harvesting produce, and visiting the animals in the Barnyard Educational Exhibit. And Tanaka Farms also has a Walk-Up Produce Market Stand & Gift Shop open daily from 9 a.m.- 5 p.m.”
4. Irvine Regional Park & Orange County Zoo
“The people we serve enjoy spending time at Irvine Regional Park, because it is affordable and there’s something for everyone,” says Down Syndrome Foundation of Orange County. “One favorite activity they enjoy is taking a stroll through the Orange County Zoo, but they also enjoy picnics and hikes. For those wanting more, there are train rides, paddle boats and pony rides.”
5. Irvine Valley College activities
“A budget-friendly activity in Irvine that I highly recommend is to visit Irvine Valley College’s (IVC) Performing Arts Center. They offer a variety of shows—from jazz concerts to choreographed showcases, musicals, plays, and more—the college offers great ways to enjoy live music and art at a low or zero cost,” recommends Julianna M. Barnes, Chancellor of the South Orange County Community College District. “In addition to live performances for the community, IVC has affordable, enriching classes for people of all ages and backgrounds. So when you think of fun and affordable things to do in Irvine, think of IVC to keep you busy on a budget.”
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Irvine and under a 25-minute drive from downtown Irvine. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
New York City’s real estate market slowed dramatically in 2022 after booming in the second half of 2021, but that didn’t mean buyers or renters caught much of a break last year. Prices and rents remained frozen near record highs despite a plunge in demand.
Whether the U.S. slips into a recession is still a major question mark for 2023. But thanks to a steady stream of newcomers and unrelenting demand for real estate, NYC usually rebounds faster from a decline and brokers expect the same to happen in the coming year. As Kobi Lahav, senior managing director and director of sales of Living NY, tells Brick, “I don’t think a recession will affect New York the way it will the rest of the country.”
Still, if bankruptcies and job losses mount, “people will think the sky is falling,” Lahav says. That’s when buyers should make a move. “Sellers will be more negotiable rather than a year from now,” he says.
If you’re a renter looking for a new apartment in the New Year, expect a more normal experience in which block-long lines to view an apartment and bidding wars are rare. Rents have stopped rising and some real estate professionals think they may even come down in 2023.
Our 2023 forecast is designed so you can skip ahead to the section most relevant to you via the links below. However, because each segment of the NYC real estate market is interconnected, we recommend reading through the entire article when you have the time.
· 2023 real estate forecast for NYC renters: A return to a more normal search
· 2023 real estate forecast for NYC buyers: ‘Your competition is sleeping’
· 2023 real estate forecast for NYC sellers: Buyers return to kick the tires
Whether you plan on buying, selling, or renting a new place, here’s what you need to know to achieve your real estate goals this year.
The big question is will New Yorkers see some relief in the new year from soaring rents?
After hitting new heights this spring and summer (Manhattan’s average rent passed $5,000 in June and the median rent hit $4,000 for the first time in May, according to the Elliman Report), NYC rents closed out the end of 2022 still stuck near record highs, while slowing demand for new leases didn’t help apartment hunters at all.
Case in point: In Manhattan, new leases were down nearly 7 percent year over year in November, but the median rent was $4,095 and average rent was $5,249, both the third highest on record. In Brooklyn, while November’s median rent slid to $3,300, it was the previous all-time record prior to June. And in Queens, the median rent in November was $3,161, which was the second highest on record.
Rents remained close to their all-time highs largely because many buyers who sold something have been choosing to wait out this market cycle in a luxury rental instead. With cash in the bank from a sale, they can afford higher rents for luxury apartments—one of the main reasons NYC renters saw widespread bidding wars for rentals during the warmer months.
NYC rents ‘could decline in the coming months’
There are some signs that 2023 will offer apartment hunters some breathing room: Bidding wars are largely gone, concessions like one or two months free are showing up again, and rents are not marching higher every month.
“Rents don’t have the upward trajectory they’ve had over the prior years but they are still remaining fairly close to all-time highs,” said Jonathan Miller, president and CEO of appraisal firm Miller Samuel and author of the Elliman Report.
A more stable year for renters is the prediction from Allia Mohamed, CEO of rental listing and building review site openigloo.
“Since summer 2022, rents have stabilized. Even increases on lease renewals have remained [below] 5 percent indicating there is no longer an appetite for 20 percent increases. We expect this attitude to continue into 2023 with the usual seasonal upticks throughout the year,” she says.
Those major 20-percent rent increases—as well as sky-high broker fees seen last year—could finally bring Good Cause eviction legislation to fruition. “We predict that restrictions on rent increases and caps on broker fees will be a serious part of regulatory discussions in 2023,” Mohamed says.
Kimberly Jay, a broker at Compass, says that there’s a chance rents could decline in the coming months. “The rental market is always the weakest from October through February. We are already seeing prices come down,” Jay says. “I’m hearing that a lot of landlords are not increasing the rent as significantly as before.”
Demand for apartments is cooling, says Kenny Lee, an economist at StreetEasy, who predicts that as a result, rents will come down slightly in 2023.
Need help renting the perfect apartment in the perfect neighborhood? Looking for a landlord who is flexible about guarantors, pets, or “flexing” a space with temporary walls? Put your search into the capable hands of The Agency, a tech-savvy real estate brokerage founded by a pair of Yale grads in response to the frustrating apartment-search experiences of classmates and colleagues. The Agency will charge a broker’s fee of 10 percent of a year’s rent on open listings instead of the usual 12 to 15 percent if you sign up here. Bonus: The agents at The Agency are a delight to deal with.
“Renters were squeezed really hard by soaring rents last year. Affordability shrank,” Lee says. But there was a shift at the end of the year: “In November one in five listings cut asking rent, up 9 percent compared to the previous year.”
One reason is the season: Fewer people move in winter. Another is renters’ willingness to move to farther flung NYC neighborhoods for more affordability, so landlords are under pressure to lower prices to attract new tenants. StreetEasy’s annual list of the top NYC neighborhoods to watch in 2023 highlights this flight to affordability—showing searches for listings in Bushwick, Elmhurst, Woodside, and Sunnyside rose by 30-40 percent in 2022.
But there are multiple factors (alongside a lack of inventory) that will keep rents from falling significantly and so a “sharp drop won’t happen,” he tells Brick.
One of those factors is privacy. Simply put, New Yorkers want to live alone and are willing to pay more to avoid roommates, according to StreetEasy research, even though it means forgoing potential annual savings of about $15,000 by living with roommates, Lee points out.
As a result, demand for studios and one bedrooms is one and a half times the demand for two bedrooms, and rents for those types of apartments have soared, he says—a trend that shows no sign of stopping.
Grab those concession before they disappear
This winter, concessions made their return. Landlords offer these freebies to entice renters to sign a lease when rental activity slows. Currently, the concessions renters can get are minimal, usually one free month or a paid broker fee, and are becoming more widespread.
In Manhattan, the market share of apartments leased with a concession was 16 percent in November, up from a low of around 11 percent in August and September. (Of course, this is nowhere near the level of concessions seen during the pandemic, when 60 percent of leases in October 2020 came with a deal.)
Sammy Ahmed, regional leasing manager for Clinton Management, says landlords were expecting a busy winter like the past two years, but that’s turned out not to be the case.
“We were noticing other landlords offering one month free, so we bumped our concession to two months free on a 14-month lease,” Ahmed says. He represents 311 11th Ave., a new rental building with 60,000 square feet of amenity space.
Robert Rahmanian, co-CEO at real estate brokerage REAL New York, recently told Brick that concessions are back because the rental market has seen a decline in leasing faster than some brokers and landlords predicted—and the economy is to blame.
“People are fearful of a looming recession and they’re being more conservative about how they’re spending rent,” he says, adding that he expects rents will rise again in March at the start of the spring cycle, spurred by limited supply. “NYC does not have enough supply currently or in the pipeline,” he says.
Arik Lifshitz, CEO of DSA Property Group, says he expects a seasonal market with rents rising in March or April and landlords dialing back concessions or eliminating them all together. (But if you rent in one of their buildings, no freebies for you. The company doesn’t believe in concessions, Lifshitz says.)
How will job losses impact the NYC rental market?
Business headlines have been dominated by reports of layoffs at tech companies and on Wall Street, but the real estate professionals that Brick spoke to do not think NYC will see a replay of what happened during the shutdown, when many renters who had lost their jobs abandoned their apartments.
“Layoffs cause tremendous hardship, but the NYC job market is growing,” Lee says.
According to monthly economic data from NYC Comptroller Brad Lander, private employment increased by roughly 13,000 in October to 3.991 million, or about 97.2 percent of the pre-pandemic peak. Employment in food services and hospitality increased by almost 10,000 jobs, the largest increase of any category, followed by health care, and the arts and entertainment—however, with the exception of health care, these fields are still below pandemic levels of staffing.
But inflation is easing, the comptroller’s report says, with inflation for the metropolitan area continuing a slow decline of an annual rate of 5.9 percent in November, down from 6.0 percent in October, and 6.2 percent in September.
Still, many companies traditionally wait until after the holidays to announce layoffs, especially retail companies, so job losses could spread beyond tech and Wall Street.
Even so, the sentiment is that the impact on the rental market won’t be very dramatic.
“Unless NYC falls into a severe recession, we won’t see a wave of lease breaks like we did during the shutdown,” Lee says. “Some renters who suffer job losses may move in with friends or family,” he predicts.
“I don’t foresee a return to the days of dropping keys on the counter and walking away,” Ahmed says. “We’re seeing a lot of newcomers to the city signing leases,” he says, adding that 17 percent of leases signed in the past three months at buildings his firm manages came from renters new to NYC.
He expects the transition from hybrid to full-time in the office will pull more renters into the city and will encourage current renters to renew. A building he represents, 312 11th Ave., is seeing a 90 percent renewal rate, he adds.
Searches on StreetEasy appear to suggest that NYC is still drawing lots of interest from renters outside the city. In November, search traffic from areas outside NYC was almost double the level prior to the pandemic. Renters in Washington D.C., Boston, and Atlanta generated the most searches.
Will NYC get crime under control in 2023?
Crime in the city is another, more intractable problem that is impacting the real estate market. Violent crime rose in NYC in 2020 and 2021 (as it did across the U.S.) even though those levels are below (in some cases far below) NYC crime rates for previous decades, for example when the city was gripped by the crack epidemic in the late 1980s.
The absolute numbers don’t seem to matter. Buyers and renters are scared, brokers told The Real Deal. They’re nervous as a result of random, horrific crimes, like April’s subway shooting in Sunset Park, which injured 10 people. Republican Lee Zeldin’s close race for governor against Democratic incumbent (and winner) Kathy Hochul made crime a central focus and tapped into this fear.
“I’m surprised crime hasn’t been more of a deterrent to newcomers,” says Lifshitz of DSA Property Group. He says that lack of available apartments is the reason demand didn’t plummet this year.
In November, Mayor Eric Adams unveiled a new plan to involuntarily hospitalize people with severe mental issues who cannot care for themselves, but Lifshitz wonders “how long will that take to have an impact?”
If you’re a NYC buyer hoping for prices to plunge in 2023, you’re going to be disappointed. This is NYC we’re talking about, which means prices won’t come down drastically. On the other hand, lots of buyers are spooked so you do have the field to yourself, so to speak.
Maybe you’ve read somewhere about real estate prices plunging—those headlines are not referring to NYC. The real estate market here is very different, and even when sales volume practically evaporates—like it has now—that doesn’t mean a fire sale. Expect small discounts in 2023—or more likely, negotiability on closing costs and other perks.
The city has seen a reversal of what happened during the early part of the pandemic. At that point, “there was a stunning influx of demand,” says Pierre Debbas, managing partner at real estate law firm Romer Debbas who handles thousands of real estate closings. “It was ironic that so much wealth was created and a lot flowed to NYC,” he says.
Most buyers remain stuck in wait-and-see mode
But that’s all changed now. Demand has “fizzled out and every sector is down,” Debbas says. He’s seen a 35 percent decline in transactions in the third quarter compared to the first. “The urgency has been sucked out of the market,” he says.
Buyers are in a wait-and-see mode, watching for what will happen to mortgage rates. Debbas isn’t alone in predicting NYC will be stuck in this holding pattern for the first three to six months of the year. With interest rates slightly improving, eventually banks may bring down rates to attract new business, but it all depends on whether the Fed tackles inflation, he says.
He foresees a return of sales activity in the middle to end of the second quarter and a more normal second half of the year. But “pricing is not going to come down in affluent areas,” he says, noting that many NYC sellers who own second (or third homes) don’t feel pressure to lower prices. “I have clients who hold onto apartments for years here. It’s a different ball game,” he says.
Lower inflation could lead to lower borrowing costs
Miller points out in his weekly newsletter “Jonathan Miller’s Housing Notes” that the Fed’s latest move—a smaller than usual increase—is a sign that inflation is starting to ease.
“With lower inflation usually comes lower borrowing costs and higher home sales, something market participants hope comes soon,” he writes, noting that the Fed’s December 14th move raised interest rates by 50 basis points, unlike the last four 75 basis point increases.
“Even though the Fed suggests more rate hikes to come in 2023, the heavy lifting has been accomplished. The forecast seems to be 75 basis points more but spread over two to three announcements in 2023,” Miller says.
The smaller December rate hike is a positive development for buyers, says Melissa Cohn, regional vice president of William Raveis Mortgage. It’s a sign that the Fed is easing off the gas a little and means good news for mortgage rates in 2023, she says.
Looking to buy a co-op apartment? National Cooperative Bank offers competitive rates and easy pre-qualification. With 40 years of lending to buyers in New York City, NCB is the bank for co-ops. After all, Cooperative is our middle name! Call us at (202) 349-7455 or email Ryan Greer [email protected] #507534. Equal Housing Lender.
As the Fed’s rate increases slow the economy, she says, “the Fed will be forced to stop hiking and then start to lower rates to get the economy back on track.”
Mortgage rates climbed from around 3 percent to more than 7 percent in 2022—and they’re not going all the way back down in 2023. Cohn predicts that near the end of 2023, rates should settle around 4.5 percent. And price increases will be in the picture again once rates come down: “When rates are lower again, prices—especially in areas with below-average inventories [like NYC]—will rise.”
The sales market is cooling, not crashing
It will take some time to revert to a scenario of lower mortgage rates and rising prices. In the meantime, brokers and analysts say watch for more price cuts in a cooling—but not crashing—NYC real estate market.
John Walkup, co-founder of real estate data analytics firm UrbanDigs, says the NYC market is essentially reverting to seasonally appropriate levels.
UrbanDigs’ market snapshot for mid-December finds the number of contracts signed on a weekly basis remains between 2021 and 2019 levels, and new listings coming to the market on a weekly basis remain low—which is typical for this time of year.
“Perceptions of the current market don’t seem to match the data,” he says. “Sure, the market is slower with less deal volume and prices declining in tow, but the fact remains that units priced at the market are still trading in less than 30 days at their asking price.”
If you’re an all-cash buyer or an investor, the early part of 2023 will be the time to get a deal. With less competition, you’ll find sellers more negotiable.
“For cash buyers, or buyers financing 50 percent or less, this is a moment to try and snag something,” says Jeremy Kamm, an agent at Coldwell Banker Warburg.
Jared Barnett, an agent at Compass, says he is working with all-cash investors who are currently taking advantage of scarcer competition and the strong rental market.
Expect sellers to become more negotiable
You can expect price cuts after Christmas, says Nicole Beauchamp, a broker at Engel & Völkers. But buyers don’t necessarily need to wait for a seller to drop the price to get a discount, she says. Buyers can make the first move, she says.
There are some listings on the market that have had no price reductions—she recommends buyers zero in on those listings and make an offer. That’s what she’s doing with her clients.
“We’re trying to get a sense of who has had a come-to-Jesus moment about pricing,” Beauchamp says, referring to sellers who have finally accepted they’re never going to get sales prices their neighbors achieved in the early part of 2022.
Tell-tale signs of listings ripe for negotiation include listings that have been on the market for over 100 days with no price cut, or listings in buildings where other units have sold with multiple price drops.
A recommendation from Beauchamp for buyers, especially those who can’t compete with all-cash buyers—like international buyers—is to focus your apartment search on co-ops that need some TLC.
Co-ops are generally cheaper than condos, but on the flip side you have to jump through a lot of hoops to get approved by the board and submit your finances to intense scrutiny, plus live with rules about renovating, subletting, pieds-à-terre—and a lot more. All these downsides are deal breakers for foreign nationals.
“An international buyer is not looking at co-ops and certainly doesn’t want to get involved in a renovation,” Beauchamp says. (For more intel read, “They’re back: NYC buyers can expect more competition from foreign investors in 2023.”)
Buyers may find deals at new condo developments
Developers of brand-new condo buildings often offer incentives at the end of the year to get deals done, especially if sales are below the 15 percent threshold required for the project’s approval by the Attorney General’s office. Some of those deals may still be around in the first quarter, says Dawn David, a broker at Corcoran, making this a segment of the market for buyers to consider.
Much depends on the timing of the project. She represents The Wales, a hotel-condo conversion in Carnegie Hill, where close to 50 percent of units are sold.
What sort of incentives can new condo buyers get? Think closing credits, a discount on the storage unit, “maybe a little off the price depending on the project,” she says. Another tip: She says look for units that don’t have as nice a view as others in the building—those can be an opportunity to get a discount.
To those buyers who are nervous about mortgage rates, she recommends taking a broader historical perspective and acting soon, because like other brokers, she’s seeing more interest from foreign investors.
“These are not high interest rates, these are normal interest rates,” David says. “More than half your competition is sleeping now,” she says, waiting for rates to come down to more comfortable levels.
“January and February will still be a good time to get something done before foreign buyers return in force,” she says.
What are big trends for new development?
Considering buying something new in 2023 and want to live greener? Environmentally friendly design is a major trend for new development. You’ll find more NYC projects incorporating Passive House design, which uses airtight construction to reduce heating and cooling costs and improve indoor air quality. Some new Passive House projects include 210 Pacific Street in Cobble Hill and Lexè at 669 St. Mark’s Ave. in Crown Heights.
Similarly, Vandewater, a new condo project in Morningside Heights, is LEED Gold certified, designed with sustainability goals for energy, water, waste, and indoor air quality.
Many NYC buildings will also be going electric in the new year to comply with Local Law 97 to reduce energy emissions and for cleaner indoor air. New condo projects like Selene, at 100 East 53rd in Midtown, have Gaggenau induction stoves, which don’t give off the harmful pollution of gas stoves.
The question for NYC sellers in 2023: Will rates come down low enough to make it worthwhile for you to sell and buy something else?
Throughout 2022, as mortgage rates edged higher and higher, sellers who had bought in recent years, when the cost of borrowing was at historic lows, retreated from the market. Consider this: 84.4 percent of owners in New York State have a mortgage rate below 5 percent, according to first quarter data from Redfin. This discourages sellers, after all why give up a low rate to borrow at a much higher one? You can’t take your low rate with you when you buy.
“Sellers got cold feet about listing,” says Lee of StreetEasy. “A lot of them scored really low rates during or before the pandemic and they were unwilling to give up low financing.”
Is now the right time to sell? There’s an easy way to find out. By discreetly “pre-marketing” your co-op, condo, or brownstone on The Agency’s data-driven pre-marketing platform, you can get a realistic idea of what today’s buyers are willing to pay before publicly listing your home. There’s no charge to participate and no obligation to enter into a traditional listing agreement. Get started>>
In the new year, unless there’s a surge of new listings, there won’t be a sharp drop in prices, he says. But still he expects prices to come down—just not dramatically, to attract offers.
On the one hand, the city continues to draw out of town and international buyers. And on the other, even modest drops in mortgage rates could return some purchasing power to buyers.
“When competition is thin, listings sit for a long time. Sellers are more incentivized to entertain negotiations,” Lee says.
Some sellers are getting the message: In November, NYC listings rose for the first time since July 2021, according to StreetEasy’s market report, which also found that 35 percent fewer NYC properties went into contract compared to one year ago and 11.7 percent of sellers cut their asking prices, up 2.1 percentage points from one year ago.
“[Sellers are] starting to understand that where they listed six months ago is no longer market value,” says Kate Wollman-Mahan, an agent at Coldwell Banker Warburg.
However, this may be an example of too little, too late.
“The buyers I am working with think prices are still too high,” says Jay of Compass. “Many sellers have not lowered their prices enough to meet the buyers’ expectations.”
A market update from UrbanDigs for the first week of December indicates many NYC buyers may be frustrated with sellers’ pricing. The report, which tracks deals in Manhattan, shows that there’s been a drop in the number of contracts signed, and prices have remained relatively higher. Pending sales will likely close the year at the lowest levels for December in 10-plus years and with fewer new listings added to the market for the full year than in 2021, the report says.
Many sellers are likely to be in a holding pattern until spring.
“Smarter sellers are waiting for mortgage rates to flatline,” to jump in the market, says Briggs Elwell, co-founder and CEO of RLTY Capital. “We’re seeing sellers say they’re waiting for spring—for the next Fed interest rate hike,” he says, adding that his firm anticipates mortgage rates holding around 5 percent.
“Obviously the difference between 7 percent and 5 percent is significant, and there’s no guarantee rates will come down to 5 percent,” he says. “But why have listings sit on the market and accrue days on the market.”
With the Fed “hinting at a deacceleration of rate hikes,” Briggs says, there will be fewer shocks to the economy. And looking ahead, he says, buyers “will become accustomed to where we’ve landed in terms of rate hikes.”
The other twin of “The Twin Cities,” Saint Paul, MN, is one of the great destinations to live in the Midwest. With historical museums and plenty of outdoor activities, it’s no wonder Saint Paul is also home to nearly 311,500 people.
As more people move to Saint Paul, it’s important to keep in mind that the median home sale price is $275,000 and the average sale price per square foot is $181. Or if you’re a renter, the average rent for a 2-bedroom apartment in Saint Paul is $1,558.
If those prices don’t fit into your budget, don’t worry. To help you find the right place to live, we’ve compiled a list of the 7 best affordable Saint Paul suburbs. And they’re all less than 30 minutes away from the city. No matter where you live, you’ll still be close enough to Saint Paul to explore the city’s great neighborhoods without the price of living there.
#1: St. Anthony
Median home price: $135,000
Average sale price per square foot: $150
Average rent for a 2-bedroom apartment: $1,540
Driving distance from Saint Paul: 15 minutes
St. Anthony, MN homes for sale
St. Anthony, MN apartments for rent
St. Anthony, with a median home sale price of $135,000, takes the number one spot on our list of affordable Saint Paul suburbs. About 5,600 people live in this suburban area, and you’ll only be about a 15-minute drive away from downtown Saint Paul. If you’re considering moving to this area, visit the St. Anthony Falls Historic Site or take a walk or bike ride along the Mississippi River.
#2: Inver Grove Heights
Median home price: $285,000
Average sale price per square foot: $181
Average rent for a 2-bedroom apartment: $1,485
Driving distance from Saint Paul: 15 minutes
Inver Grove Heights, MN homes for sale
Inver Grove Heights, MN apartments for rent
Inver Grove Heights is Saint Paul’s second best affordable suburb. The same distance from Saint Paul as St. Anthony, you can visit the Minnesota State Capitol in no time. Living in Inver Grove Heights, you’ll want to visit the Inver Grove Heights Heritage Village or check out one of the city’s many parks. In this suburb of 35,800 people, you can also spend the day checking out the charming downtown.
#3: Roseville
Median home price: $315,000
Average sale price per square foot: $172
Driving distance from Saint Paul: 10 minutes
Roseville, MN homes for sale
Roseville, MN apartments for rent
10 minutes away from downtown, you’ll find yourself in the suburb of Roseville. From parks and outdoor recreation to shopping and dining, there are lots of things that make Roseville a great place to live. If you find yourself moving here, visit the Roseville History Center or attend a show at the Minnesota State Fairgrounds.
#4: Oakdale
Median home price: $320,000
Average sale price per square foot: $180
Average rent for a 2-bedroom apartment: $1,574
Driving distance from Saint Paul: 10 minutes
Oakdale, MN homes for sale
Oakdale, MN apartments for rent
A little more expensive than Roseville is Oakdale, the next suburb on our list. Even with a population close to 28,300, there’s still plenty to do in this Saint Paul suburb. Plan to spend the day at visit the Oakdale Nature Preserve for hiking, biking, and nature watching, catch a show at the Oakdale Dinner Theatre, or go fishing or boating on Lake Elmo.
“Our winery is located close to both Twin Cities, just 17 miles north of the intersection of I-694 and Highway 65. One-half mile West of Highway 65 on Constance Boulevard, in Ham Lake,” provides Willow Tree Vineyard & Winery. “The winery features a park-like setting and has a tasting room full of wines from cold-climate grapes and locally grown fruits. Our Tasting Room is open year-round: Thursday thru Sunday from 1 pm to 5 pm. The facility hosts picnics, weddings, benefits, and other private events as well.”
#5: Maplewood
Median home price: $325,000
Average sale price per square foot: $171
Average rent for a 2-bedroom apartment: $1,641
Driving distance from Saint Paul: 10 minutes
Maplewood, MN homes for sale
Maplewood, MN apartments for rent
About a 10-minute drive into the city, add Maplewood to your list of Saint Paul suburbs to consider moving to. With 42,000 people living in this affordable town, Maplewood is a great option to consider when looking to stay close to Saint Paul without paying the premium for a home in the city. In Maplewood, you can go ice skating at the outdoor rink at the Maplewood Community Center, play in the snow at one of the city’s many parks, or visit the Maplewood Nature Center.
#6: Little Canada
Median home price: $337,450
Average sale price per square foot: $157
Driving distance from Saint Paul: 5 minutes
Little Canada, MN homes for sale
Little Canada, MN apartments for rent
Sixth on our list is another well-known Saint Paul suburb, Little Canada. With roughly 10,800 people calling Little Canada home, it’s a great area to consider renting or buying a home in. And there are lots of activities to do in this suburb. You can take in the views at Gervais Lake, go bowling or play a game of pool at one of the local hotspots, or enjoy an afternoon at one of the parks, among many other favorites.
#7: Vadnais Heights
Median home price: $455,250
Average sale price per square foot: $182
Driving distance from Saint Paul: 10 minutes
Vadnais Heights, MN homes for sale
Vadnais Heights, MN apartments for rent
Rounding out our list of affordable Saint Paul suburbs is none other than Vadnais Heights. With a population of close to 12,900, living in Vadnais Heights is a great alternative to the hustle and bustle of Saint Paul. If you are moving to this suburb, visit the Vadnais Heights Sports Center, take a walk or bike ride through one of the city’s beautiful parks, or head into St. Paul to check out a book at the Rice Street Library.
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Saint Paul and under a 30-minute drive from downtown Saint Paul. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Learn more about Saint Paul:
7 Fun Facts About St. Paul: How Well Do You Know Your City?
21 Popular Saint Paul Neighborhoods: Where to Live in Saint Paul in 2023
14 Fun-Filled Things to Do in Saint Paul, MN. for Newcomers
Arlington, VA, is one of the great destinations to relocate to in the Mid-Atlantic region. This city is known for many things including its monuments and memorials, like the Arlington National Cemetery and the Arlington House. Other points of interest include the United States Marine Corps War Memorial, the United States Air Force Memorial, and the Pentagon Memorial.
For homebuyers, you’ll find that the median home sale price is $650,000, the average sale price per square foot is $428, and the housing market is somewhat competitive. And if you’re considering renting an apartment in Arlington, the average rent for a two-bedroom apartment is $3,093.
If those prices are out of your budget, don’t worry, we’ve got options to help you find a home. We’ve rounded up a list of the 10 best affordable Arlington suburbs to consider living in – and they’re all under a 20-minute drive from the city. You’ll still be close enough to Arlington to explore the city’s great neighborhoods without the price of living there.
#1: Tysons
Median home price: $485,000
Average sale price per square foot: $384
Driving distance from Arlington: 15 minutes
Tysons, VA homes for sale
Tysons, VA apartments for rent
With a median home sale price of $485,000, Tysons is the most affordable Arlington suburb on our list. Just about a 15-minute drive away from Arlington, you won’t miss out on what the city has to offer. If you’re considering moving to this area, check out everything that makes this suburb an awesome place to move to.
#2: Merrifield
Median home price: $562,450
Average sale price per square foot: $405
Driving distance from Arlington: 15 minutes
Merrifield, VA homes for sale
Merrifield, VA apartments for rent
Merrifield is just a little more expensive than Tysons. The same distance from Arlington as Tysons, you can shop and dine in Ballston Quarter in no time. When living in this suburb of 20,500 people, make sure to explore Towers Park or spend the day checking out the charming downtown.
#3: Lincolnia
Median home price: $575,000
Average sale price per square foot: $296
Driving distance from Arlington: 15 minutes
Lincolnia, VA homes for sale
Lincolnia, VA apartments for rent
15 minutes away from downtown, you’ll find yourself in the suburb of Lincolnia. Even with a population of about 22,900, there are plenty of fun things to do in Lincolnia. If you move here, explore the beautiful Green Spring Gardens or play golf at Pinecrest Golf Course.
“As a coffee person, the best budget-friendly thing to do in Lincolnia, Arlington is absolutely spending time in coffee places. For Five Coffee and grounded coffee shop are my favorite cafes,” recommends Operator Coffee Co. “Their cozy environment and freshly roasted coffee always make me feel relaxed.”
#4: Annandale
Median home price: $580,000
Average sale price per square foot: $315
Average rent for a 2-bedroom apartment: $1,978
Driving distance from Arlington: 20 minutes
Annandale, VA homes for sale
Annandale, VA apartments for rent
A little more expensive than Lincolnia is none other than Annandale. About 43,400 people live in this Arlington suburb and there are plenty of activities to do and places to see. You can shop and dine at the Annandale Towne Center, head to Mason District Park to explore the trails at Mill Creek Park, or take a guided tour of the historic Hooff’s Run Stone House.
#5: Idylwood
Median home price: $605,000
Average sale price per square foot: $353
Driving distance from Arlington: 15 minutes
Idylwood, VA homes for sale
Idylwood, VA apartments for rent
Only a 15-minute drive into the city, consider adding Idylwood to your list of Arlington suburbs to consider moving to. With about 18,000 people living in this affordable town, Idylwood is a great option to consider if you’re looking to stay close to Arlington without paying the premium for a home in the city. In Idylwood, you’re never far from something cool to do or explore.
#6: West Falls Church
Median home price: $701,200
Average sale price per square foot: $366
Driving distance from Arlington: 15 minutes
West Falls Church, VA homes for sale
West Falls Church, VA apartments for rent
Another noteworthy Arlington suburb is West Falls Church. Home to roughly 30,200 people, West Falls Church is a great suburb to consider buying a home or renting an apartment in. There are lots of activities in this suburb – you can check out one of the parks like Roundtree Park, among many other local favorites.
#7: Falls Church
Median home price: $722,500
Average sale price per square foot: $365
Driving distance from Arlington: 10 minutes
Falls Church, VA homes for sale
Falls Church, VA apartments for rent
Seventh on our list of affordable Arlington suburbs is Falls Church, which is almost a 10-minute drive into the city center. With a population of nearly 14,700, living in Falls Church is a great alternative to city life. If you’re going to call this suburb home, plan time to spend the afternoon at a park or grab a bite to eat at a local restaurant.
#8: Pimmit Hills
Median home price: $740,000
Average sale price per square foot: $361
Driving distance from Arlington: 15 minutes
Pimmit Hills, VA homes for sale
Pimmit Hills, VA apartments for rent
Living in Arlington, it’s likely that you know of Pimmit Hills, the eighth suburb on our list. About 6,600 people reside in Pimmit Hills, so you’ll have a fraction of Arlington’s population while remaining only 15 minutes from the city. Be sure to stroll through Pimmit View Park once you move to the area.
#9: Seven Corners
Median home price: $795,000
Average sale price per square foot: $363
Driving distance from Arlington: 5 minutes
Seven Corners, VA homes for sale
Seven Corners, VA apartments for rent
Moving to Seven Corners will give you access to downtown Arlington in just about 5 minutes – as long as you don’t find yourself in traffic. Close to 9,100 people live in this suburb, but you’ll be surrounded by charming areas to explore in your free time.
#10: McLean
Median home price: $1,551,473
Average sale price per square foot: $402
Driving distance from Arlington: 20 minutes
McLean, VA homes for sale
McLean, VA apartments for rent
Rounding out our list of affordable Arlington suburbs, is McLean. While the home prices are higher, the average sale price per square foot is less than Arlington’s. This suburb has a population of 50,800, and you can take a walking tour of McLean Central Park, enjoy a day at Great Falls Park, explore the McLean Gardens and Greenways, and visit the McLean Historic District. There’s always something to check out while living in McLean.
Affordable things to do in around Arlington
1. Trail running
“Arlington has some great resources for running at all levels,” says DC Front Runners. “There are trails that go along the water, past monuments, and all over the city which allow runs ranging from casual to marathon training distances which connect to trails in Washington DC and neighboring areas.”
2. Volunteer at running events
“Anyone can participate in our single day to season-long volunteer opportunities with Girls on the Run. Volunteers get a truly unique experience, no matter what the role is, and witness how inspirational the program can be for participating runners,” suggests Sammy from Girls on the Run of Northern Virginia. “It’s about so much more than running, with our emphasis on teaching critical life skills like confidence and decision-making. Our social-emotional learning is taught through activities that get kids and adults moving and help them build a healthy relationship with physical activity.”
3. Hike
“My favorite affordable thing to do in Arlington is to hike the Potomac Heritage Trail along the Potomac River. It is beautiful and feels remote, even though it is in the middle of the city. The best place to access the trail is through Windy Run Park in Arlington,” recommends Natural Ecological Communities of Northern Virginia.
4. Biking
“My favorite affordable thing to do in Arlington, Virginia, is to bike on the world-class bike trails. Arlington is located between many exciting things to see. I like to bike to Gravelly Point to watch the airplanes at National Airport take off or land over me,” suggests Todd Wallace from I Love Arlington. “Sometimes I cross the Memorial Bridge to Washington, DC, to bike up and down the National Mall watching events and visiting museums. On days when I’m ambitious, I will bike the Mt. Vernon trail to George Washington’s Mount Vernon, a beautiful ride.”
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Arlington and under a 20-minute drive from downtown Arlington. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Learn more about Arlington:
16 Unique Things to Do in Arlington, VA
Locals Rave About These 10 Beautiful Places in Arlington, Virginia
Whether you want to call it by its nickname, “City of Squares,” or just by its name, Cambridge, MA, is one of the many great destinations to move to in New England. There are countless things to do in the city, whether you visit the Harvard University campus and take a walk through Harvard Yard, stroll down Newbury Street, or tour the MIT Museum.
And if you’re considering living in Cambridge, there are four key points to keep in mind. The housing market is very competitive, the median home sale price is $1,116,152, the average sale price per square foot is $863, and the average rent price for a two-bedroom apartment in Cambridge is $4,087.
Don’t worry if those numbers don’t fit in your budget – we’ve got options to help you find a home or apartment that does. We’ve gathered a list of the 10 best affordable suburbs of Cambridge, MA. And they’re all less than 25 minutes away from the city. That way, you can live nearby without paying the price of living in Cambridge.
#1: Chelsea
Median home price: $520,000
Average sale price per square foot: $379
Average rent for a 2-bedroom apartment: $3,232
Driving distance from Cambridge: 20 minutes
Chelsea, MA homes for sale
Chelsea, MA apartments for rent
With a median home sale price of $520,000, Chelsea takes the number one spot on our list of affordable suburbs of Cambridge, MA. About a 20-minute drive from downtown Cambridge, Chelsea is home to roughly 4,100 people. Living in Chelsea, you can stroll through the Chelsea Historic District and check out the local art scene, sample the cuisine at one of Chelsea’s many restaurants, and shop at the Chelsea Farmers Market.
#2: Malden
Median home price: $650,000
Average sale price per square foot: $350
Average rent for a 2-bedroom apartment: $3,352
Driving distance from Cambridge: 25 minutes
Malden, MA homes for sale
Malden, MA apartments for rent
Our second suburb is Malden, which is home to about 66,300 people. Just about 25 minutes from Cambridge, you can stroll through Harvard Yard in just a quick drive. Living in Malden, you’ll want to visit the historic Malden Mills, explore the Beaver Brook Reservation, or rent a book from the Malden Public Library.
“Waitt’s Mountain, the most underrated park in Malden, offers breathtaking views of the Boston skyline and is recently renovated. The Little Blog of Magic says, “This hidden gem is a favorite of locals, featuring an adventure playground, basketball court, and paved loop walkway. I love taking a short trip to Waitt’s Mountain to catch the stunning sunset after a long day – a truly meditative experience.”
#3: Medford
Median home price: $688,158
Average sale price per square foot: $510
Driving distance from Cambridge: 20 minutes
Medford, MA homes for sale
Medford, MA apartments for rent
Drive just 20 minutes outside Cambridge, and you’ll reach Medford, another great suburb. From parks and outdoor recreation to shopping and dining, there are lots of things that make Medford a great place to live. Make sure to visit one of the many historic landmarks like The Brooks Estate or Wrights Tower, hike along Cross Fells Trailhead, or watch a show at the Condon Shell if you move to the third most affordable suburb.
#4: Waltham
Median home price: $720,000
Average sale price per square foot: $376
Average rent for a 2-bedroom apartment: $3,660
Driving distance from Cambridge: 25 minutes
Waltham, MA homes for sale
Waltham, MA apartments for rent
Only slightly more expensive than Medford is the suburb of Waltham. About 65,200 people live in this Cambridge suburb, where you can visit the Charles River Museum of Industry and Innovation, walk down Moody Street to find some shopping and dining, and tour the Historic Waltham Watch Company.
#5: Boston
Median home price: $760,000
Average sale price per square foot: $598
Average rent for a 2-bedroom apartment: $4,787
Driving distance from Cambridge: 15 minutes
Boston, MA homes for sale
Boston, MA apartments for rent
15 minutes away from downtown Cambridge is none other than Boston. With 675,600 residents, moving to this city can keep you close enough to Cambridge without paying the premium for a home there. In Boston, you can watch a Red Sox game at Fenway Park, walk the Freedom Trail, and visit one of the many museums like the USS Constitution Museum, the Boston Tea Party Museum, or the Museum of Fine Arts.
“One of my favorite affordable activities in Cambridge is strolling through Harvard Square, people-watching and enjoying the history,” shares Sharon Watkins Photography. “A picnic at Alexander W. Kemp Playground is perfect for the kids, followed by a visit to Raven Used Books to score great finds without spending too much.”
#6: Watertown
Median home price: $800,000
Average sale price per square foot: $469
Driving distance from Cambridge: 20 minutes
Watertown, MA homes for sale
Watertown, MA apartments for rent
Sixth on the list is another well-known Cambridge suburb is Watertown, where the median home sale price is about $300K less than in Cambridge. Watertown has about 35,300 residents and is a great suburb to consider moving to. Make sure to visit the museums, explore the historic sites, see the views of the Charles River, and check out shops and restaurants in Watertown Square.
#7: Brookline
Median home price: $854,000
Average sale price per square foot: $757
Driving distance from Cambridge: 20 minutes
Brookline, MA homes for sale
Brookline, MA apartments for rent
Seventh on our list of affordable suburbs of Cambridge, MA, is Brookline, which is about a 20-minute drive into the city center. With a population of roughly 63,200, you’ll be living in a smaller area, but there’s no shortage of things to do in Brookline. If you find yourself moving to this suburb, visit one of the many museums, spend the afternoon playing golf or having a picnic at one of the many parks, and check out some of the great local restaurants.
#8: Arlington
Median home price: $908,500
Average sale price per square foot: $449
Driving distance from Cambridge: 20 minutes
Arlington, MA homes for sale
Arlington, MA apartments for rent
Living in Cambridge, you likely know of Arlington, the eighth suburb on our list. About 46,300 people reside in Arlington, so you’ll have a fraction of Cambridge’s population while remaining only 20 minutes from the city. Be sure to stroll down Main Street and explore the shops and restaurants, visit the Cyrus Dallin Art Museum, or take a historic trolley tour of Arlington.
#9: Somerville
Median home price: $957,500
Average sale price per square foot: $595
Driving distance from Cambridge: 5 minutes
Somerville, MA homes for sale
Somerville, MA apartments for rent
Without traffic, you’ll be in downtown Cambridge in about 5 minutes, making Somerville a great place to rent or buy a home in. Close to 81,000 people live in this suburb, but you’ll be surrounded by areas to explore in your free time. Attractions in Somerville include visiting the historic Somerville Theatre, walking down Somerville’s charming main street, lined with shops and restaurants, or checking out the Somerville Public Library, one of the oldest public libraries in the country.
#10: Belmont
Median home price: $1,000,000
Average sale price per square foot: $503
Driving distance from Cambridge: 15 minutes
Belmont, MA homes for sale
Belmont, MA apartments for rent
Last but not least on our list of affordable suburbs of Cambridge, MA, is Belmont. Without traffic, you’ll find yourself in Cambridge in roughly 15 minutes. This suburb has a population of 27,300, and you can visit the Belmont Historical Society, the Belmont Public Library, the Belmont Farmer’s Market, or walk or run the miles of trails at Beaver Brook Reservation. There’s always something to check out while living in Belmont.
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Cambridge and under a 25-minute drive from downtown Cambridge. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Learn more about Cambridge
14 Popular Cambridge Neighborhoods: Where to Live in Cambridge in 2023
17 Must-Try Cambridge Restaurants: Where the Cambridge Locals Eat
9 Fun-Filled Things to Do in Cambridge, MA for New Residents
7 Popular Parks in Cambridge, MA That Locals Love
Whether you want to call it by its nickname, “The District,” or just by its name, Washington, DC, is often viewed as one of the best destinations to move to. There are countless things to do in the city, whether you visit the Smithsonian Museum, tour the White House, stroll through the National Mall, explore the National Zoo, or check out the U.S. Capitol Building. It’s no wonder nearly 689,500 people are living in Washington, DC.
As you start your homebuying or renting journey, there are four things you should know. The housing market is somewhat competitive, the median home sale price is $620,000, the average sale price per square foot is $516, and the average rent price for a two-bedroom apartment in Washington, DC, is $3,354.
If those prices are out of your budget, don’t worry, we’ve got options to help you find a home. We’ve collected the 10 most affordable Washington, DC, suburbs to consider moving to. And the best part is that they’re all less than 35 minutes away from the city center. That way, you can live near Washington, DC, and all its cool activities without paying the premium price of living there.
#1: Adelphi, MD
Median home price: $262,000
Average sale price per square foot: $224
Average rent for a 2-bedroom apartment: $1,567
Driving distance from Washington, DC: 35 minutes
Adelphi, MD homes for sale
Adelphi, MD apartments for rent
With a median home sale price of $262,000, Adelphi, MD, is the most affordable Washington, DC, suburb on our list. Just about a 35-minute drive away from Washington, DC, you won’t miss out on what the city has to offer. If you’re considering moving to Adelphi, check out all the local businesses, parks, and hidden gems that make this suburb great.
#2: Landover, MD
Median home price: $294,945
Average sale price per square foot: $233
Average rent for a 2-bedroom apartment: $1,525
Driving distance from Washington DC: 25 minutes
Landover, MD homes for sale
Landover, MD apartments for rent
Landover, MD, takes the second spot on our list. Just about 25 minutes from Washington, DC, you can visit the Smithsonian Museum in just a quick drive. When living in this suburb of almost 26,00 people, you can also spend time exploring the charming downtown.
#3: Capitol Heights, MD
Median home price: $317,500
Average sale price per square foot: $225
Driving distance from Washington DC: 25 minutes
Capitol Heights, MD homes for sale
Capitol Heights, MD apartments for rent
Also 25 minutes away, you’ll find the suburb of Capitol Heights, MD. There are plenty of picturesque and outdoorsy activities to take part in when living in Capitol Heights. If you find yourself moving to our third most affordable suburb, make sure to check out one of the many local shops and attractions.
#4: Oxon Hill, MD
Median home price: $326,000
Average sale price per square foot: $222
Average rent for a 2-bedroom apartment: $1,993
Driving distance from Washington DC: 25 minutes
Oxon Hill, MD homes for sale
Oxon Hill, MD apartments for rent
A little more expensive than Capitol Heights is none other than Oxon Hill, MD. With roughly 18,800 residents in this Washington, DC, suburb, some of the best activities to do include watching a horse race at Rosecroft Raceway or hiking the Henson Creek Trailhead.
#5: Chillum, MD
Median home price: $359,000
Average sale price per square foot: $256
Average rent for a 2-bedroom apartment: $1,500
Driving distance from Washington DC: 25 minutes
Chillum, MD homes for sale
Chillum, MD apartments for rent
25 minutes away from downtown Washington, DC, is Chillum, MD, another great suburb to consider moving to. With 36,000 people living in this affordable town, Chillum is a great option if you’re looking to stay close to Washington, DC, without paying the premium for a home in the city. In Chillum, there’s plenty to do. For example, you can walk along the Sligo Creek Trail or spend the afternoon at Green Meadows Park.
#6: Hyattsville, MD
Median home price: $374,900
Average sale price per square foot: $253
Driving distance from Washington, DC: 25 minutes
Hyattsville, MD homes for sale
Hyattsville, MD apartments for rent
A recognizable Washington, DC, suburb is Hyattsville, MD, where the median home sale price is about $200K less than in Washington, DC. Hyattsville has about 21,200 residents and is a great suburb to consider buying a home or renting an apartment. There are lots of activities to do in and around the Hyattsville area. You can tour Vanadu Art House, spend the afternoon at University Hills Duck Pond Park, or take your furry friend to Heurich Dog Park, among many other local favorites.
#7: Langley Park, MD
Median home price: $474,000
Average sale price per square foot: $296
Driving distance from Washington, DC: 30 minutes
Langley Park, MD homes for sale
Langley Park, MD apartments for rent
Claiming the seventh spot on our list of affordable Washington, DC, suburbs is Langley Park, MD, which is roughly a 30-minute drive into the heart of DC. With a population of about 20,100, Langley Park is a great area to live in that’s not nearly as big as Washington, DC, but there are still plenty of gems to explore.
#8: Mount Rainier, MD
Median home price: $500,000
Average sale price per square foot: $337
Driving distance from Washington DC: 25 minutes
Mount Rainier, MD homes for sale
Mount Rainier, MD apartments for rent
If you’ve lived in or around Washington, DC, for some time, chances are you know of our eighth suburb – Mount Rainier, MD. About 8,300 people live in Mount Rainier, so you’ll have a fraction of Washington, DC’s population while remaining only 25 minutes from the city.
#9: Silver Spring, MD
Median home price: $545,000
Average sale price per square foot: $278
Driving distance from Washington DC: 25 minutes
Silver Spring, MD homes for sale
Silver Spring, MD apartments for rent
Without traffic, you’ll be in downtown Washington, DC, in about 25 minutes, making Silver Spring, MD, a great place to move to. Close to 81,000 people live in this suburb, but you’ll be surrounded by charming areas to explore in your free time. Popular things to do in Silver Spring include exploring downtown Silver Spring, taking a stroll at Sligo Creek Park, checking out the National Museum of Health & Medicine, or catching a show at The Fillmore Silver Spring. There are also plenty of Silver Spring neighborhoods to consider moving this year.
#10: Takoma Park, MD
Median home price: $593,500
Average sale price per square foot: $354
Driving distance from Washington DC: 25 minutes
Takoma Park, MD homes for sale
Takoma Park, MD apartments for rent
Takoma Park, MD, takes the last spot on our list of affordable Washington, DC, suburbs you’ll want to consider moving to. Without traffic, you’ll find yourself in Washington, DC, in roughly 25 minutes. This suburb has a population of 17,600, and you can spend the day at Sligo Creek North Neighborhood Park or check out one of the many other parks and green spaces in the area. There’s always something to do while living in Takoma Park.
Affordable things to do in Washington, DC suburbs
1. Gravelly Point Park
“My favorite thing in Washington, DC, is going to Gravelly Point Park over the weekend. The park is located on Potomac River and close to the Reagan Airport runway,” suggests Ehsan Gondal from Washington DC Private Tours. “If you want to watch birds, boats, plane landings, and run around with your kids, this is the place to go. It’s free to visit, and you can order pizza when your party gets hungry.
2. Rose Hill Park
“I love strolling through Rose Hill Park in the quaint town of Berryville, VA,” suggests Owner Allison Ritter of The Tea Cart. “On Saturdays, the Farmer’s Market draws a lively crowd of local artisans, farmers and creatives, providing a variety of eclectic goods worth stopping by for. If you’re up for a bit of sophistication, stop by The Tea Cart for a pot of tea and a scone ($12) as you head out of town.”
3. Kingman and Heritage Islands
“If you want to enjoy the scenic nature of DC, heading over to Kingman and Heritage Islands are worth the trip,” recommends the Rose Glow Tea Room. “These islands are accessible from The Fields at RFK Campus. There, you can check out some flora and fauna along the Anacostia river. They even have free kayak and canoe reservations in the summertime.
4. The National Gallery of Art – Sculpture Garden
“My favorite affordable thing to do in DC is tour the National Gallery of Art Sculpture Garden to enjoy their unique, modern sculptures surrounded by a lovely fountain, benches, and greenery,” shares the Queen of DC. “It’s a relaxing sanctuary in the heart of the city. It turns into an ice rink during the winter, and they host a free Jazz in the Garden concert series during the summer.”
5. The Great Hall
“It’s free to visit the National Building Museum’s Great Hall,” suggests The National Building Museum. “The Great Hall features a central fountain and is divided into three courts by two screens of four colossal Corinthian columns—among the tallest classical columns in the world. Also, throughout the year, the Museum hosts free festivals, such as The Big Build, which is popular among families.
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Washington, DC, and under a 35-minute drive from downtown Washington DC. Median home sale price data from the Redfin Data Center during November 2022. Average rental data from Rent.com November 2022. Population data sourced from United States Census Bureau.
Learn more about Washington, DC:
Locals Reveal 10 Insider Tips for Moving to Washington, DC
9 Cities Near Washington, DC to Buy or Rent in this Year
10 Fun Facts About Washington DC: How Well Do You Know Your City?