Montgomery was named 2023’s most affordable city for home buyers in a recent study from the personal finance outlet WalletHub.com.
The distinction comes after Montgomery recently earned national praise from Forbes Magazine as a top city to buy a home and ranked as one of the best cities for Black-owned businesses and entrepreneurs according to Black Information Network and NerdWallet. Additionally, Montgomery was named one of the Association for Defense Communities’ top five Great American Defense Communities in March.
“Earning the title of the Most Affordable City for Home Buyers in the U.S. is another big win for Montgomery,” Mayor Reed said. “We appreciate the recent exposure, but we are not complacent. Our team continues working to increase quality of life, enhance education and deliver new opportunities for growth and development across the community. These reports indicate that we are creating a climate that not only attracts new businesses but empowers entrepreneurs. We will continue leveraging this momentum to build on our record year of growth and economic development.”
This recognition is the latest victory for Montgomery. In 2022, Montgomery led the state in economic development with $1.7 BILLION in capital investment and nearly 2,000 new jobs. It also remains a tourism leader as Alabama’s capital city is one of the state’s top two visitor destinations.
To determine the most affordable cities for home buyers, WalletHub compared a sample of 300 U.S. cities (varying in size) across ten key metrics, including cost of living, maintenance affordability and housing affordability. Birmingham (33), Tuscaloosa (46), Huntsville (75) and Mobile (85) were also analyzed by WalletHub.
For more information on WalletHub’s 2023 Most Affordable Cities for Home Buyers, visit https://wallethub.com/edu/most-affordable-cities-for-home-buyers/121950.
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