37 Cities Where Saving Less Than $20 a Day Can Buy You a Home in 5 Years

Saving up to buy a home can be a formidable task, and one that can feel impossible to manage as costs of living rise and the U.S. continues to experience a housing inventory shortage that drives up real estate prices.

Find Out: 5 Cities Where Homes Will Be a Total Steal in 2 Years

Learn more: 7 Reasons You Must Speak To a Financial Advisor Before Spending $50,000 or More

But building a nest egg to buy a home could be easier than you think, depending on which city you wish to buy in. There are many metros where you can save less than $20 a day, with the purpose of buying a home, and succeed in buying in five years.

In order to find out where you need to save $20 or less daily to afford a home in five years, MutualFund analyzed the median home price in June 2024 across the nation’s 170 most populated cities. From there, it calculated how much buyers would need to save annually as well as daily over a five-year period to afford a 15% down payment on a home.

Here are the 37 cities where saving less than $20 a day can get you a home over a five-year period .

Kansas City, Missouri

• Median home price: $241,555
• Down payment: $36,233.25
• Annual savings goal (five years): $7,246.65
• Daily savings goal: $19.85

Check Out: 5 Worst Florida Cities To Buy Property in the Next 5 Years, According to Real Estate Agents

Be Aware: 5 Types of Homes That Will Plummet in Value in 2024

Money mistakes the super wealthy never make - that you might be doing now.

Pittsburgh

• Median home price: $239,496
• Down payment: $35,924.40
• Annual savings goal (five years): $7,184.88
• Daily savings goal: $19.68

Discover More: I’m an Economist: Here’s My Prediction for the Housing Market If Trump Wins the Election

Springfield, Missouri

• Median home price: $233,376
• Down payment: $35,006.40
• Annual savings goal (five years): $7,001.28
• Daily savings goal: $19.18

Fort Wayne, Indiana

• Median home price: $233,043
• Down payment: $34,956.45
• Annual savings goal (five years): $6,991.29
• Daily savings goal: $19.15

Indianapolis

• Median home price: $231,197
• Down payment: $34,679.55
• Annual savings goal (five years): $6,935.91
• Daily savings goal: $19

Buffalo, New York

• Median home price: $227,728
• Down payment: $34,159.20
• Annual savings goal (five years): $6,831.84
• Daily savings goal: $18.72

Explore More: 20 Best Cities Where You Can Buy a House for Under $100K

Philadelphia

• Median home price: $225,159
• Down payment: $33,773.85
• Annual savings goal (five years): $6,754.77
• Daily savings goal: $18.51

Rochester, New York

• Median home price: $224,734
• Down payment: $33,710.10
• Annual savings goal (five years): $6,742.02
• Daily savings goal: $18.47

Pasadena, Texas

• Median home price: $223,488
• Down payment: $33,523.20
• Annual savings goal (five years): $6,704.64
• Daily savings goal: $18.37

El Paso, Texas

• Median home price: $223,913
• Down payment: $33,586.95
• Annual savings goal (five years): $6,717.39
• Daily savings goal: $18.40

Find out: 6 Best Florida Suburbs To Buy Property in the Next 5 Years, According to Real Estate Agents

Baton Rouge, Louisiana

• Median home price: $222,135
• Down payment: $33,320.25
• Annual savings goal (five years): $6,664.05
• Daily savings goal: $18.26

Corpus Christi, Texas

• Median home price: $221,575
• Down payment: $33,236.25
• Annual savings goal (five years): $6,647.25
• Daily savings goal: $18.21

Fayetteville, North Carolina

• Median home price: $217,984
• Down payment: $32,697.60
• Annual savings goal (five years): $6,539.52
• Daily savings goal: $17.92

Little Rock, Arkansas

• Median home price: $213,834
• Down payment: $32,075.10
• Annual savings goal (five years): $6,415.02
• Daily savings goal: $17.58

Be Aware: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents

Lubbock, Texas

• Median home price: $210,393
• Down payment: $31,558.95
• Annual savings goal (five years): $6,311.79
• Daily savings goal: $17.29

Milwaukee

• Median home price: $208,972
• Down payment: $31,345.80
• Annual savings goal (five years): $6,269.16
• Daily savings goal: $17.18

Laredo, Texas

• Median home price: $207,838
• Down payment: $31,175.70
• Annual savings goal (five years): $$6,235.14
• Daily savings goal: $17.08

Des Moines, Iowa

• Median home price: $206,706
• Down payment: $31,005.90
• Annual savings goal (five years): $6,201.18
• Daily savings goal: $16.99

Check Out: 8 Places Where Houses Are Suddenly Major Bargains

Oklahoma City

• Median home price: $205,889
• Down payment: $30,883.35
• Annual savings goal (five years): $6,176.67
• Daily savings goal: $16.92

Tulsa, Oklahoma

• Median home price: $204,809
• Down payment: $30,721.35
• Annual savings goal (five years): $6,144.27
• Daily savings goal: $16.83

Amarillo, Texas

• Median home price: $200,477
• Down payment: $30,071.55
• Annual savings goal (five years): $$6,014.31
• Daily savings goal: $16.48

Wichita, Kansas

• Median home price: $198,504
• Down payment: $29,775.60
• Annual savings goal (five years): $5,955.12
• Daily savings goal: $16.32

Read Next: 6 Best Cities To Buy Property in the Next 5 Years, According to Real Estate Agents

Mobile, Alabama

• Median home price: $194,279
• Down payment: $29,141.85
• Annual savings goal (five years): $5,828.37
• Daily savings goal: $15.97

Kansas City, Kansas

• Median home price: $191,080
• Down payment: $28,662.00
• Annual savings goal (five years): $5,732.40
• Daily savings goal: $15.71

Baltimore

• Median home price: $188,560
• Down payment: $28,284
• Annual savings goal (five years): $$5,656.80
• Daily savings goal: $15.50

Brownsville, Texas

• Median home price: $186,717
• Down payment: $28,007.55
• Annual savings goal (five years): $5,601.51
• Daily savings goal: $15.35

Learn More: Mortgage Rates Are Dropping: 20 Housing Markets With the Most Affordable Home Prices

St. Louis

• Median home price: $181,513
• Down payment: $27,226.95
• Annual savings goal (five years): $5,445.39
• Daily savings goal: $14.92

Augusta, Georgia

• Median home price: $176,796
• Down payment: $26,519.40
• Annual savings goal (five years): $5,303.88
• Daily savings goal: $14.53

Memphis, Tennessee

• Median home price: $152,280
• Down payment: $22,842
• Annual savings goal (five years): $4,568.40
• Daily savings goal: $12.52

Montgomery, Alabama

• Median home price: $144,466
• Down payment: $21,669.90
• Annual savings goal (five years): $4,333.98
• Daily savings goal: $11.87

Be Aware: America’s 50 Most Expensive Retirement Towns

Shreveport, Louisiana

• Median home price: $138,808
• Down payment: $20,821.20
• Annual savings goal (five years): $4,164.24
• Daily savings goal: $11.41

Akron, Ohio

• Median home price: $133,601
• Down payment: $20,040.15
• Annual savings goal (five years): $4,008.03
• Daily savings goal: $10.98

Birmingham, Alabama

• Median home price: $132,979
• Down payment: $19,946.85
• Annual savings goal (five years): $3,989.37
• Daily savings goal: $10.93

Toledo, Ohio

• Median home price: $123,237
• Down payment: $18,485.55
• Annual savings goal (five years): $3,697.11
• Daily savings goal: $10.13

Find Out: 8 States To Move to If You Don’t Want To Pay Taxes on Social Security

Cleveland

• Median home price: $110,545
• Down payment: $16,581.75
• Annual savings goal (five years): $3,316.35
• Daily savings goal: $9.09

Detroit

• Median home price: $72,457
• Down payment: $10,868.55
• Annual savings goal (five years): $2,173.71
• Daily savings goal: $5.96

Jackson, Mississippi

• Median home price: $64,014
• Down payment: $9,602.10
• Annual savings goal (five years): $1,920.42
• Daily savings goal: $5.26

This article originally appeared on GOBankingRates.com : 37 Cities Where Saving Less Than $20 a Day Can Buy You a Home in 5 Years