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When it comes to home prices, Tampa Bay's cities are a bargain, study finds

Looking for the most affordable place to buy a home in the Tampa Bay area? New Port Richey might be a good choice.

The average listing price of a four-bedroom, two-bath house in the Pasco County city is just $154,830, according to Coldwell Banker. That ranks New Port Richey fourth-lowest in Florida and about $550,000 less than top-priced Key Largo.

In fact, all of the Tampa Bay area is a relative bargain given its wealth of beaches, activities and amenities. No bay area city ranks among the state's 15 most expensive, and Largo barely squeaks into the top 30 with an average listing price of $324,383.

St. Petersburg comes in 34th ($307,225), followed by No. 38 Tampa ($299,579), No. 52 Temple Terrace ($275,329), No. 61 Clearwater ($246,869) and No. 70 Plant City ($225,080).

All of the nation's 10 most expensive markets are in California, and six of those are in the Silicon Valley area where the average listing price for a four-bedroom home is $2.45 million. The most affordable U.S. city is Detroit ($64,110), followed by Cleveland; Jamestown, N.Y.; Utica, N.Y.; and Wilkes-Barre, Pa.

Only two Sunbelt cities are among the nation's least expensive — Augusta, Ga., and Palatka, in northeast Florida.

Coldwell Banker said it analyzed more than 50,000 listings in more than 2,000 U.S. markets to come up with its report. The national average listing price for a four-bedroom, two-bath home is $320,120, which would buy a home that size in nearly 1,300 markets, the company said.