I've lived in Michigan almost my whole life and I love it. There are pricey areas to live throughout the state. Where are the most affordable places to live in Michigan?

Recently my family went through the home buying process and we purchased a home in Okemos. There are factors involved when making decisions like this and this home was the best fit for us. Although Okemos isn't the cheapest area to live in, it's definitely not the most expensive.

Good news for those on the hunt for a new home. The market has simmered down and it's working more towards the advantage of the buyer vs. two years ago when it was a seller's market and you had to throw everything including the kitchen sink, your unborn grandchildren and an extra $40K down on the offer.

Smart Asset recently did a study that revealed the least expensive places to live in Michigan. Here is their criteria:

To find the most affordable places to buy a home, SmartAsset analyzed closing costs, real estate taxes, homeowners insurance, and mortgage rates across the United States. We started the analysis by including all cities with a population of 5,000 or greater. We then measured the total cost of owning a home (using the average home cost) in each city throughout a five-year period. That five-year cost was then measured as a proportion of median household income in each place to determine affordability.

The most affordable places were those in which total housing costs were smallest compared to the median income in each area. Each city was then indexed on a scale from 0 to 100, with the most affordable location receiving a score of 100.

The results are in, let's take a look at the results.

The Most Affordable Places to Live in Michigan

10. Shields, Michigan

via Google Streetview/Canva
via Google Streetview/Canva
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The verage closing cost is $2,331, annual property tax is $2,205, annual home insurance is $916, avergage monthly mortgage payment is $7,640, median income is $71,439 and the affordability index is 55.03.

9. Romulus, MI

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via Google Streetview/Canva
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The verage closing cost is $3,154, annual property tax is $2,240, annual home insurance is $721, avergage monthly mortgage payment is $6,010, median income is $61,314 and the affordability index is 55.27.

8. Albion, MI

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via Google Streetview/Canva
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The verage closing cost is $2,673, annual property tax is $1,295, annual home insurance is $384, avergage monthly mortgage payment is $3,199, median income is $35,546 and the affordability index is 57.13.

7. Eastwood, MI

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via Google Streetview/Canva
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The verage closing cost is $2,499, annual property tax is $1,690, annual home insurance is $551, avergage monthly mortgage payment is $4,594, median income is $51,107 and the affordability index is 61.22.

6. Ecorse, MI

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via Google Streetview/Canva
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The verage closing cost is $2,330, annual property tax is $1,758, annual home insurance is $285, avergage monthly mortgage payment is $2,379, median income is $34,278 and the affordability index is 61.67.

5. Saginaw, MI

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via Google Streetview/Canva
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The verage closing cost is $2,285, annual property tax is $1,213, annual home insurance is $272, avergage monthly mortgage payment is $2,270, median income is $30,845 and the affordability index is 64.87.

4. Muskegon Heights, MI

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via Google Streetview/Canva
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The verage closing cost is $1,930, annual property tax is $1,062, annual home insurance is $281, avergage monthly mortgage payment is $2,346, median income is $31,431 and the affordability index is 68.83.

3. Buena Vista, MI

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via Google Streetview/Canva
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The verage closing cost is $1,879, annual property tax is $1,151, annual home insurance is $257, avergage monthly mortgage payment is $2,144, median income is $34,884 and the affordability index is 80.78.

2. Flint, MI

Adam Maloney via Unsplash
Adam Maloney via Unsplash
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The verage closing cost is $2,061, annual property tax is $988, annual home insurance is $208, avergage monthly mortgage payment is $1,734, median income is $30,383 and the affordability index is 82.94.

1. Beecher, MI

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via Google Streetview/Canva
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The verage closing cost is $1,780, annual property tax is $832, annual home insurance is $210, avergage monthly mortgage payment is $1,750, median income is $30,829 and the affordability index is 90.12.

The Poor Farms & County Homes of Michigan

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