LOS ANGELES – Looking to buy a home but not break the bank?
Pro tip No. 1 – do not look in Los Angeles or San Francisco.
A new study from Go Banking Rates just revealed which California cities are cheaper alternatives some of the more popular alternatives.
California‘s most affordable cities for homebuyers are:
- Santa Clarita : Average home price $753,130
- Agoura Hills : Average home price: $1.1 million
- Barstow : Average home price: $253,617
- Clearlake : Average home price: $221,967
- Crescent City: Average home price: $346,556
- Riverside : Average home price: $584,915
Real estate experts said while home prices in the aforementioned cities have increased, they’re still considerably lower than the average home price in major cities like Los Angeles, where the average price there is over $900,000, according to Zillow.
Mike Hardy, managing partner at Churchill Mortgage, said the city still has reasonable affordability.
“There’s lots of migration from Los Angeles, which is due to a combination of the price point being less than LA County and people realizing they can get much more per dollar if they move further outside the city center,” Mike Hardy, managing partner at Churchill Mortgage, said.