Photo: City of El Paso
On Wednesday, officials with the City of El Paso announced that the city has received national attention for its affordable housing market by two national organizations: Realtor.com and MSNBC.
“The recognition of our strong and affordable housing market shows the economic growth of our city and how El Paso continues to move forward as an attractive place to live and work,” said Cary Westin, Deputy City Manager of Economic Development and Tourism.
An article written by the economic team at Realtor.com, “The 10 Surprising Housing Markets Poised to Rule in 2019,” listed El Paso as the third best metropolitan area for affordable homes in the country.
The study highlights El Paso’s low cost of living, a boom in construction and new housing subdivisions, along with Fort Bliss, as reasons for a thriving and affordable housing market.
El Paso is the only city in Texas to make the top ten list. Other cities include Phoenix, Las Vegas and Miami.
In an MSNBC article titled “Americans flock to where they can buy a home on a $60,000 salary,” El Paso ranked fourth on the top ten list.
El Paso came in the top 10 because of its average price of a home ($158,200) and the amount of down payment required to purchase a home on a $60,000 salary or less.
Other cities that made the top ten list include Houston, New Orleans and Oklahoma City.
Both articles looked at cities that are flourishing with job growth and increased business, affordable housing as well as an abundance of places to live.