![Pennsylvania city named among cities with the most ‘affordable’ mansions in the US by: Ashleigh Jackson Posted: Oct 13, 2023 / 07:33 AM EDT Updated: Oct 13, 2023 / 09:46 AM EDT SHARE (NEXSTAR) — The idea of living in a mansion may seem like a fantasy to some, especially as U.S. mortgage rates continue to climb and housing affordability takes a hit nationwide. Even still, there are places across the country where you can live large for less. A new report from Realtor.com ranked the top 10 U.S. cities where you can find the most affordable mansions — homes with more than 5,000 square feet for under $1 million. Experts analyzed every single-family home listing on Realtor.com from the past year. They calculated what percentage of those big, budget-friendly properties made up each metropolitan area’s single-family home listings. Counties with the lowest home prices in Indiana “Many of the metros on the list stand out for being generally affordable locales, with plenty of space to grow and sprawl,” Hannah Jones, senior economic research analyst with Realtor.com, wrote in the report. “They tend to be less densely populated, especially as you get farther from the city center. So buyers can get more space at a lower price.” Indianapolis, Indiana, ranked No.1 on the list. According to the report, one in every 33 single-family homes listed in this city has more than 5,000 square feet but costs less than $1 million. The analysis also noted that Indianapolis’ metro area has a mix of older homes in historic neighborhoods and newer properties in nearby suburbs, like Westfield and Noblesville. “People moving here from out of state [are] usually very impressed by what they get for their money,” Kelly Lavengood, a real estate agent and the owner of Good Living Indy, told the site. Here’s the full list of cities with the most affordable mansions, according to Realtor.com: Indianapolis, IN Atlanta, GA Washington, DC Cleveland, OH Allentown, PA Baltimore, MD McAllen, TX Louisville, KY Denver, CO Ogden, UT Click here to see the full report.](https://nutfieldnews.net/wp-content/uploads/2024/05/This-Pennsylvania-City-Has-Has-Named-the-Most-Affordable-Place-to-Live-in-the-State.jpg)
As housing affordability becomes increasingly challenging across the United States, the dream of owning a mansion may seem out of reach for many. However, a recent report from Realtor.com highlights several cities where living large is still within grasp, even on a budget.
Realtor.com analyzed single-family home listings from the past year to identify cities where mansions, defined as homes with over 5,000 square feet, are available for under $1 million. The findings reveal that Allentown, Pennsylvania, is among the top 10 cities with the most affordable mansions in the country.
With one in every 33 single-family homes listed in Allentown boasting over 5,000 square feet and priced below $1 million, the city offers ample opportunities for spacious living at a reasonable cost.
Allentown’s affordability is complemented by its mix of historic neighborhoods and newer properties in nearby suburbs, providing a diverse range of options for prospective buyers.
Real estate professionals in Allentown emphasize the value that buyers from out of state find in the city’s real estate market. Kelly Lavengood, a local real estate agent, notes that newcomers are often impressed by the quality and affordability of homes available in Allentown.
While Allentown stands out as a city where mansion living is accessible, other cities on the list include Indianapolis, Atlanta, and Washington, D.C. These cities offer a similar combination of affordability and spaciousness, making them attractive options for those seeking upscale living without breaking the bank.
As prospective buyers explore their options, reports like these provide valuable insights into housing markets across the country. With the right information and guidance, finding an affordable mansion in cities like Allentown is within reach for those looking to turn their dream of upscale living into a reality.