Want to Buy a Home In 2023? 10 Cities to Consider

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One of these metro areas could be your new home. 

I’m sure a lot of people would love to forget about the state of the housing market in 2022, but unfortunately, we’ve probably still got a ways to go before things significantly improve from high prices and high mortgage rates. And since two-thirds of Americans plan to buy, sell, or refinance a home in 2023, there is a lot of money at stake as we stare down the 2023 housing market.

Realtor.com’s economic research team recently released data on the top 10 real estate markets for 2023. These are metro areas where prices haven’t topped out, and in fact, these markets didn’t see the same explosive growth that many places experienced in the pandemic buying boom of 2020 and 2021. If you’re looking for a place to get a mortgage in 2023, consider these cities and their surrounding metro areas.

1. Hartford, Connecticut

Median sale price in November 2022: $224,950

If you want to move to a state capital, put Hartford on your list. The city is home to many large corporations, notably insurance companies (ever heard of The Hartford?), and offers 17 distinct neighborhoods to choose from.

2. El Paso, Texas

Median sale price in November 2022: $235,750

This border city is a great place to live if you enjoy the great outdoors. You’ll have easy proximity to the Rio Grande for boating and fishing, and the city boasts several notable organized athletic events every year.

3. Louisville, Kentucky

Median sale price in November 2022: $224,950

If you like horses, have I got a city for you! Louisville is world famous for its annual Kentucky Derby, as well as its bourbon producers. Louisville also has an up-and-coming restaurant scene, perfect for foodies.

4. Worcester, Massachusetts

Median sale price in November 2022: $385,000

Want proximity to Boston without Boston real estate prices? Consider Worcester, as it’s just an hour’s drive away from Beantown. Worcester has world-class higher educational opportunities and culture to spare.

5. Buffalo, New York

Median sale price in November 2022: $200,000

Despite New York’s reputation for being unaffordable, if you look upstate, you’ll find charming cities and great home prices. Buffalo is the second largest city in the state and offers major sports teams and the majesty of Niagara Falls nearby. If you can handle the weather (Buffalo sees an average snowfall of 95.4″ per year), the Queen City might just be for you.

6. Augusta, Georgia

Median sale price in November 2022: $198,000

If golf is your game, you might want to give Augusta a closer look. Then again, Augusta is also a great place to live for young families as well as those who enjoy culinary experiences and the arts as a whole.

7. Grand Rapids, Michigan

Median sale price in November 2022: $252,500

Grand Rapids is a city on Michigan’s Grand River, and if you work in healthcare (or aspire to), it might be a fit for you. This city also has a lot to offer for craft beer enthusiasts and anyone who enjoys a larger city with a small-town feel.

8. Columbia, South Carolina

Median sale price in November 2022: $240,000

If you like the vibrancy of a college town, Columbia could be a good place to check out. The University of South Carolina is headquartered there. In addition, Columbia residents enjoy opportunities to soak up art and culture at the city’s many museums.

9. Chattanooga, Tennessee

Median sale price in November 2022: $305,000

Chattanooga offers city amenities with beautiful natural surroundings. If you’re a hiker, biker, climber, or boater, you’ll find lots to like. Trendy shopping spots are also on abundant offer in Chattanooga.

10. Toledo, Ohio

Median sale price in November 2022: $116,000

You can enjoy a low cost of living and a host of family-friendly activities in Toledo. Local businesses and cuisine are prized in Toledo, so if you make the move, expect to find unique buys not available anywhere else.

You might be looking at the emerging 2023 housing market with trepidation — and with good reason! But if you consider the above 10 cities, you just might find a great deal as well as a great place to live.

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