Where homes are affordable

Residents who live in these 25 growing towns see their incomes go the furthest.

1. Altamonte Springs, FL
best places affordable homes alalmonte springs florida
Median home price: $67,000
Median family income: $63,642

Altamonte Springs's big night comes every Fourth of July with its Red, Hot and Boom celebration, which features the largest fireworks display in central Florida and major music acts, like the Jonas Brothers. The event attracted 150,000 attendees this year.

So maybe it's no surprise that homebuyers get a lot of bang for their buck in this town.

The housing market in this Orlando suburb is unusual for the area: Two-thirds of the units are rentals, many of them condos that were snapped up by investors who now lease them out. Rents are reasonable -- a two-bedroom apartment goes for $800 or so. That, as well as low taxes, helps keep the cost of homeownership down in the area.

Subscribe to Money Magazine


Source: Onboard Informatics, actual sales collected from county and municipal assessors' offices. Only includes sales within city boundaries. Only cities where there were more than 100 home sales in 2012, and that were experiencing job and population growth, were considered. No more than 2 places within a state, and no more than 1 place within a county could qualify.
  @Money - Last updated August 24 2013 10:07 AM ET
Join the Conversation
Full list: Top 50

America's best small towns are not only thriving economically, they've also got all you could want in a place to raise a family.

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.32%4.26%
15 yr fixed3.36%3.27%
5/1 ARM3.37%3.27%
30 yr refi4.31%4.24%
15 yr refi3.34%3.25%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.