If you want to own a cheap home go to Childress, Texas, at least that's what a new
from Smart Asset suggests.
Childress was one of five Texas cities listed in the top ten most affordable places to live for homeowners.
In a town of about 6,000 people, the median income in Childress is almost $40,000. Stephanie Murphy with Main Street Realtors says the average home price is about $65,000.
"Most of the homes are older homes," Murphy said. "They were built in the 50's. Most are two or three bedrooms, but only have one bathroom."
The recent ranking from Smart Asset, examined closing costs, real estate taxes, homeowners insurance and mortgage rates over five years for the average home in every US county. According to the results, the average closing costs in Childress, came in at a little more than $2,000. Residents are paying an average of $853 dollars in annual property taxes and $423 dollars in annual homeowner's insurance.
"Childress is growing but most people make minimum wage or barely above, so housing is more affordable," Murphy said. "It is older homes that maybe need to be remodeled but, that's all people can afford here because they don't have any big, high priced job."
City Manager Bryan Tucker says they're working on bringing more jobs to the area to improve the overall quality of life.
"You have to figure out - how do we create jobs," Tucker said. "That's been one of our main emphasis over the last three or four years since I've been here, try to bring in companies that would hire and create more job opportunities. "
As far as housing opportunities go, Tucker says there are some options right now, but they are working on more medium to higher end apartments.
"Are we over the hump when it comes to housing? We are not," Tucker said. "We are definitely addressing it and we are getting better month by month."