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24/7 Wall St.: Cities Where Homes Cost Less Than a Car

8. Youngstown, Ohio

Median listing price: $57,550
Comparably priced car: Chevy Suburban ($68,900)
Housing price change (year over year): n/a
Median household income: $25,002
Unemployment: 7.4%

Just as the age of a tree is revealed by rings in its trunk, the age of a town’s housing stock, coupled by new construction rates, speaks volumes about the sturdiness of a city. In the U.S., only 14.4% of homes were built before 1940; in Youngstown, it’s more than 40%. New home construction is at a standstill. Nearly 19% of homes stand vacant, which places further downward pressure on a local recovery.

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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