Which city? Most bang for my buck? (live, best, cost)

[christosNY]

I have a family of four. Our current net income is $2,000/month.
We are looking for a somewhat big city to live near.
I'm hoping people on this forum at least know people with a similar size family/income as myself that could recommend their area. Then we'll be able to persuade all them employers to hire us. I'm optimistic. I just want a chance to try.
We want an area where houses can be bought for under $100,000 in safe, family neighborhoods.
It's going to be tight, I know, but right now it's real tough where I am, and I know there's a better place for us. I just need your help. Thanks.

[Milwaukee City]

Milwaukee, Indy, Madison,

[rnc2mbfl]

I heard that Indianapolis was the most reasonable cost housing market of any large city nationally. But, under 100K is going to be a real test of that designation.
I hope things get better for you and your family. I wish you and your family the best as you make your decision!
Also, at your current income, I'd reallly consider renting until you know for sure that you landed in the right place.

[Milwaukee City]

100K anywhere is going to be tough however it can be done, you will just get a doll house instead of a McMansion.

[STLCardsBlues1989]

Just browsing real estate listings for St. Louis, it looks like it can be done, but the house won't be big, or in an upscale neighborhood. I see lots of listings for Hazelwood and Florissant, which from my understanding are okay, depending on the neighborhood itself. Most seem to be 1,000 square feet or less. The kids maybe can share a bedroom, though (of course I don't know your kids). My sis and I did that when we were younger. And my Grandparents shared bedrooms with siblings. They all made it through just fine. Having your own room is nice, but probably not completely necessary, especially when kids are still pretty young and don't need a lot of "my own space."

You can find houses here for under $100k pretty easily, but I live 3 hours from St. Louis.

A little place like this might be the best you can expect
http://cbgundaker.com/search/advance...20570&type=res

I think it's in St. Louis County, just on the edge of the city. Sorry I don't know a lot about the neighborhood or the schools. The house might need some work, since the description says some of the rooms are not finished.

Similar area as the one above
http://cbgundaker.com/search/advance...64773&type=res

Little bit bigger house
http://cbgundaker.com/search/advance...58626&type=res
Don't know much about the area, though. Looks almost like the middle of nowhere, or down a pretty empty street anyway.

[The Dissenter]

Originally Posted by christosNY

I have a family of four. Our current net income is $2,000/month.
We are looking for a somewhat big city to live near.
I'm hoping people on this forum at least know people with a similar size family/income as myself that could recommend their area. Then we'll be able to persuade all them employers to hire us. I'm optimistic. I just want a chance to try.
We want an area where houses can be bought for under $100,000 in safe, family neighborhoods.
It's going to be tight, I know, but right now it's real tough where I am, and I know there's a better place for us. I just need your help. Thanks.

You may want to look into the Louisville/Ft. Knox/Elizabethown area of Kentucky. With that said $100k is going to be tough to work with.

[Central Illinois 1]

I'm no financial advisor, but if your net income is only 2K per month, you will probably want to stay in the 40-60K range for a home. Utilities alone (phone, cable, electricity, gas, water, sewer, garbage disposal) will probably run you at least $500 per mo. average most places. So if your mortgage was also $500 per month (on an a $50,000 home plus insurance and taxes), you might be able to do it. I would say that a $100K home would really be stretching it. That would run you about $1000 per month with taxes and insurance, raising your total monthly payout to about $1500 of your $2000 per month (yikes!). In the midwest, there are numerous small towns outside of cities where you can probably find affordable homes. Outside St. Louis is one area, on both the Missouri and Illinois sides of the river. You won't find these kind of deals on the fringes of Chicago though unless you want to live in a very run down area.

[MantaRay]

Originally Posted by rnc2mbfl

I heard that Indianapolis was the most reasonable cost housing market of any large city nationally.

That's true. The National Association of Home Builders puts out what is called a Housing Opportunity Index (HOI). They take median home prices and median incomes and calculate a % of homes on the market that are affordable to a median earner. The 1st Quarter 2009 data for Indy is Median Income: $68,100, Median Home Price: $98k, HOI Index: 94.8%. Indy was #1 I believe in 2008. For the 1st quarter 2009, the HOI Top Ten Most Affordable ranking goes:

Sandusky, OH 97.9
Monroe, MI 97.5
Mansfield, OH 97.0
Springfield, OH 95.4
Canton-Massillon, OH 95.2
Bay City, MI 95.1
Sherman-Denison, TX 94.9
Indianapolis-Carmel, IN 94.8
Lima, OH 94.8
Lansing-East Lansing, MI 94.7

[BPerone201]

St. Paul, MN

[ckhthankgod]

Originally Posted by christosNY

I have a family of four. Our current net income is $2,000/month.
We are looking for a somewhat big city to live near.
I'm hoping people on this forum at least know people with a similar size family/income as myself that could recommend their area. Then we'll be able to persuade all them employers to hire us. I'm optimistic. I just want a chance to try.
We want an area where houses can be bought for under $100,000 in safe, family neighborhoods.
It's going to be tight, I know, but right now it's real tough where I am, and I know there's a better place for us. I just need your help. Thanks.

Just go West on I-90 to Syracuse. It's affordable, has a decent job market, depending on skills and has good schools for the overwhelming part. For instance, I live in a adjacent suburb and got our house for 83k in a safe area and good school district.