The suburb in Pu City with the cheapest housing prices is typically identified as South Puget. This area has consistently shown lower median home values compared to other suburbs in Pu City. The reasons for this are multifaceted, including economic factors, infrastructure development, and demographic shifts.

Firstly, South Puget benefits from a lower cost of living, which is a significant driver of housing affordability. The region has a strong presence of manufacturing and service industries that offer competitive wages, making it an attractive destination for young professionals and families. According to the Pu City Economic Development Report, the median household income in South Puget is approximately 10% lower than the city's average, which directly impacts housing prices.

Secondly, the infrastructure in South Puget is less developed compared to other suburbs. This lack of high-end amenities and commercial developments contributes to lower property values. The Pu City Planning Department's data indicates that South Puget has fewer shopping centers, restaurants, and entertainment venues per capita, which can deter higher-income residents and keep property prices down.

Additionally, demographic shifts play a crucial role in determining housing prices. South Puget has seen an influx of residents from other parts of Pu City and neighboring cities, driven by the search for more affordable housing. The Pu City Demographics Report reveals that the population in South Puget has grown by 15% over the past five years, with a significant portion of new residents being young adults and families.

Furthermore, the availability of housing stock in South Puget contributes to lower prices. The Pu City Housing Authority's data shows that there is a higher percentage of older homes in this suburb, which tend to be more affordable. These homes often require less maintenance and have lower utility costs, making them attractive to budget-conscious buyers.

In conclusion, South Puget in Pu City offers the cheapest housing prices due to a combination of economic factors, infrastructure development, demographic shifts, and the availability of older housing stock. These elements create a favorable environment for those seeking affordable housing options in the Pu City area.