Michigan Has the No. 3 Most Affordable Small Town in the U.S.

There's no denying Michigan has some fantastic small towns. Now, it's official, based on a current study.

The folks at Realtor.com have put together a list of the most affordable small towns in the U.S. For the study, they looked at cities with a population under 50,000, looked at metrics including median home list prices, year-over-year list price changes, ownership costs as a percentage of income and more. The study also only allowed for one town per state.

Michigan's Houghton had a fantastic showing at No. 3 on the list. View the top 10 below, and find the full list here.

New Ulm, Minnesota: Median Listing Price: $139,900
Lexington, Nebraska: Median Listing Price: $145,000
Houghton, Michigan: Median Listing Price: $149,500
Spencer, Iowa: Median Listing Price: $92,500
Wahpeton, North Dakota: Median Listing Price: $179,900
Wapakoneta, Ohio: Median Listing Price: $145,000
Los Alamos, New Mexico: Median Listing Price: $307,500
Lincoln, Illinois: Median Listing Price: $84,900
Maryville, Missouri: Median Listing Price: $150,000
Seneca Falls, New York: Median Listing Price: $114,900