Special Report
Least Expensive Metro Areas to Buy a Home in the Nation
Published:
Last Updated:
A surge in demand for homes in the United States, in addition to limited housing inventory, has created a sellers market unlike anything seen in recent memory. Homes are now selling faster than ever before — and also for more money than ever before.
While rapidly rising housing prices may discourage many would-be buyers, there are parts of the country where home values are relatively low and affordable to a wider range of budgets.
Using data on median home value from the U.S. Census Bureau, 24/7 Wall St. identified the least expensive metropolitan areas to buy a home. Over half of the metro areas on this list are located in Southern states — including six located primarily in West Virginia and another six in Texas.
Home values in a given area are often a reflection of what residents can afford, and in every metro area on this list, the median household income is lower than the $65,712 that the typical American household earns annually. Here is a look at the poorest city in every state.
Despite the lower incomes, home values in these areas are often low enough to make it less likely that buyers would need to rely on a mortgage. In nearly every metro area on this list, the share of homeowners who are financing with a mortgage is below the 61.7% share of homeowners nationwide. This is the American city with the most foreclosures.
Click here to see the least expensive metro areas to buy a home in the nation.
Click here to see our detailed methodology.
50. Rockford, IL
> Median home value: $132,900
> Median monthly housing costs with a mortgage: $1,211 — 106th lowest of 384 metros
> Share of housing units with a mortgage: 63.9% — 123rd highest of 380 metros (tied)
> Homeownership rate: 68.1% — 141st highest of 384 metros
> Median household income: $61,078 — 165th highest of 384 metros
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49. Utica-Rome, NY
> Median home value: $131,800
> Median monthly housing costs with a mortgage: $1,216 — 109th lowest of 384 metros
> Share of housing units with a mortgage: 54.7% — 78th lowest of 380 metros (tied)
> Homeownership rate: 69.4% — 111th highest of 384 metros
> Median household income: $57,778 — 171st lowest of 384 metros
48. Cumberland, MD-WV
> Median home value: $131,400
> Median monthly housing costs with a mortgage: $991 — 11th lowest of 384 metros
> Share of housing units with a mortgage: 55.5% — 91st lowest of 380 metros
> Homeownership rate: 70.6% — 88th highest of 384 metros (tied)
> Median household income: $49,729 — 55th lowest of 384 metros
47. Valdosta, GA
> Median home value: $131,200
> Median monthly housing costs with a mortgage: $1,125 — 61st lowest of 384 metros
> Share of housing units with a mortgage: 58.6% — 146th lowest of 380 metros (tied)
> Homeownership rate: 56.3% — 28th lowest of 384 metros (tied)
> Median household income: $43,787 — 9th lowest of 384 metros
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46. Muskegon, MI
> Median home value: $131,100
> Median monthly housing costs with a mortgage: $1,053 — 30th lowest of 384 metros
> Share of housing units with a mortgage: 58.5% — 144th lowest of 380 metros (tied)
> Homeownership rate: 74.2% — 29th highest of 384 metros (tied)
> Median household income: $50,366 — 63rd lowest of 384 metros
45. Parkersburg-Vienna, WV
> Median home value: $129,900
> Median monthly housing costs with a mortgage: $890 — 2nd lowest of 384 metros
> Share of housing units with a mortgage: 54.3% — 73rd lowest of 380 metros (tied)
> Homeownership rate: 74.9% — 21st highest of 384 metros (tied)
> Median household income: $48,680 — 40th lowest of 384 metros
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44. Flint, MI
> Median home value: $128,900
> Median monthly housing costs with a mortgage: $1,199 — 96th lowest of 384 metros
> Share of housing units with a mortgage: 55.1% — 85th lowest of 380 metros (tied)
> Homeownership rate: 70.0% — 96th highest of 384 metros (tied)
> Median household income: $50,389 — 65th lowest of 384 metros
43. Huntington-Ashland, WV-KY-OH
> Median home value: $128,800
> Median monthly housing costs with a mortgage: $1,123 — 60th lowest of 384 metros
> Share of housing units with a mortgage: 48.5% — 30th lowest of 380 metros
> Homeownership rate: 71.1% — 74th highest of 384 metros
> Median household income: $48,329 — 32nd lowest of 384 metros
42. Lima, OH
> Median home value: $128,700
> Median monthly housing costs with a mortgage: $1,097 — 46th lowest of 384 metros
> Share of housing units with a mortgage: 59.9% — 176th lowest of 380 metros (tied)
> Homeownership rate: 69.9% — 98th highest of 384 metros (tied)
> Median household income: $60,429 — 180th highest of 384 metros
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41. Florence, SC
> Median home value: $128,500
> Median monthly housing costs with a mortgage: $1,137 — 66th lowest of 384 metros
> Share of housing units with a mortgage: 51.1% — 43rd lowest of 380 metros (tied)
> Homeownership rate: 66.5% — 190th highest of 384 metros
> Median household income: $48,547 — 37th lowest of 384 metros
40. Monroe, LA
> Median home value: $128,200
> Median monthly housing costs with a mortgage: $1,111 — 55th lowest of 384 metros
> Share of housing units with a mortgage: 43.4% — 7th lowest of 380 metros
> Homeownership rate: 60.8% — 68th lowest of 384 metros (tied)
> Median household income: $40,136 — 1st lowest of 384 metros
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39. Joplin, MO
> Median home value: $127,800
> Median monthly housing costs with a mortgage: $966 — 4th lowest of 384 metros
> Share of housing units with a mortgage: 56.1% — 97th lowest of 380 metros (tied)
> Homeownership rate: 65.4% — 163rd lowest of 384 metros (tied)
> Median household income: $48,909 — 44th lowest of 384 metros
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38. Gadsden, AL
> Median home value: $127,500
> Median monthly housing costs with a mortgage: $1,000 — 16th lowest of 384 metros
> Share of housing units with a mortgage: 48.3% — 26th lowest of 380 metros
> Homeownership rate: 72.8% — 48th highest of 384 metros
> Median household income: $41,447 — 4th lowest of 384 metros
37. Sumter, SC
> Median home value: $126,600
> Median monthly housing costs with a mortgage: $1,032 — 24th lowest of 384 metros
> Share of housing units with a mortgage: 52.2% — 52nd lowest of 380 metros (tied)
> Homeownership rate: 66.0% — 174th lowest of 384 metros (tied)
> Median household income: $49,263 — 48th lowest of 384 metros
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36. Fort Smith, AR-OK
> Median home value: $126,200
> Median monthly housing costs with a mortgage: $998 — 14th lowest of 384 metros
> Share of housing units with a mortgage: 51.4% — 47th lowest of 380 metros
> Homeownership rate: 62.2% — 95th lowest of 384 metros (tied)
> Median household income: $45,157 — 15th lowest of 384 metros
35. Albany, GA
> Median home value: $125,600
> Median monthly housing costs with a mortgage: $1,133 — 65th lowest of 384 metros
> Share of housing units with a mortgage: 55.4% — 90th lowest of 380 metros
> Homeownership rate: 53.6% — 15th lowest of 384 metros (tied)
> Median household income: $40,625 — 2nd lowest of 384 metros
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34. Lawton, OK
> Median home value: $125,500
> Median monthly housing costs with a mortgage: $1,148 — 70th lowest of 384 metros (tied)
> Share of housing units with a mortgage: 57.6% — 125th lowest of 380 metros (tied)
> Homeownership rate: 53.3% — 13th lowest of 384 metros (tied)
> Median household income: $51,332 — 80th lowest of 384 metros
33. Macon-Bibb County, GA
> Median home value: $125,200
> Median monthly housing costs with a mortgage: $1,209 — 102nd lowest of 384 metros (tied)
> Share of housing units with a mortgage: 55.6% — 92nd lowest of 380 metros (tied)
> Homeownership rate: 62.8% — 106th lowest of 384 metros (tied)
> Median household income: $48,435 — 34th lowest of 384 metros
32. El Paso, TX
> Median home value: $125,100
> Median monthly housing costs with a mortgage: $1,296 — 164th lowest of 384 metros (tied)
> Share of housing units with a mortgage: 53.7% — 67th lowest of 380 metros (tied)
> Homeownership rate: 60.5% — 62nd lowest of 384 metros (tied)
> Median household income: $48,823 — 43rd lowest of 384 metros
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31. Beaumont-Port Arthur, TX
> Median home value: $123,600
> Median monthly housing costs with a mortgage: $1,354 — 188th highest of 384 metros
> Share of housing units with a mortgage: 44.2% — 8th lowest of 380 metros
> Homeownership rate: 66.7% — 181st highest of 384 metros (tied)
> Median household income: $58,818 — 186th lowest of 384 metros
30. St. Joseph, MO-KS
> Median home value: $122,400
> Median monthly housing costs with a mortgage: $1,094 — 44th lowest of 384 metros (tied)
> Share of housing units with a mortgage: 53.6% — 66th lowest of 380 metros
> Homeownership rate: 63.3% — 114th lowest of 384 metros (tied)
> Median household income: $50,425 — 66th lowest of 384 metros
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29. Anniston-Oxford, AL
> Median home value: $121,600
> Median monthly housing costs with a mortgage: $1,052 — 29th lowest of 384 metros
> Share of housing units with a mortgage: 52.7% — 60th lowest of 380 metros (tied)
> Homeownership rate: 70.5% — 91st highest of 384 metros (tied)
> Median household income: $48,156 — 30th lowest of 384 metros
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28. Jackson, TN
> Median home value: $121,400
> Median monthly housing costs with a mortgage: $1,076 — 40th lowest of 384 metros
> Share of housing units with a mortgage: 54.6% — 77th lowest of 380 metros
> Homeownership rate: 65.0% — 148th lowest of 384 metros (tied)
> Median household income: $48,700 — 42nd lowest of 384 metros
27. Binghamton, NY
> Median home value: $119,400
> Median monthly housing costs with a mortgage: $1,180 — 87th lowest of 384 metros
> Share of housing units with a mortgage: 57.0% — 117th lowest of 380 metros (tied)
> Homeownership rate: 66.6% — 187th highest of 384 metros (tied)
> Median household income: $53,768 — 110th lowest of 384 metros
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26. Enid, OK
> Median home value: $119,400
> Median monthly housing costs with a mortgage: $1,126 — 62nd lowest of 384 metros
> Share of housing units with a mortgage: 49.5% — 35th lowest of 380 metros
> Homeownership rate: 67.3% — 165th highest of 384 metros (tied)
> Median household income: $64,929 — 113th highest of 384 metros
25. Mansfield, OH
> Median home value: $118,600
> Median monthly housing costs with a mortgage: $1,003 — 17th lowest of 384 metros
> Share of housing units with a mortgage: 56.9% — 115th lowest of 380 metros (tied)
> Homeownership rate: 67.3% — 165th highest of 384 metros (tied)
> Median household income: $51,783 — 85th lowest of 384 metros
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24. Goldsboro, NC
> Median home value: $118,400
> Median monthly housing costs with a mortgage: $1,055 — 31st lowest of 384 metros
> Share of housing units with a mortgage: 53.7% — 67th lowest of 380 metros (tied)
> Homeownership rate: 60.9% — 70th lowest of 384 metros (tied)
> Median household income: $44,596 — 11th lowest of 384 metros
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23. Springfield, OH
> Median home value: $118,300
> Median monthly housing costs with a mortgage: $1,026 — 22nd lowest of 384 metros (tied)
> Share of housing units with a mortgage: 63.2% — 135th highest of 380 metros (tied)
> Homeownership rate: 67.0% — 176th highest of 384 metros
> Median household income: $50,128 — 59th lowest of 384 metros
22. Texarkana, TX-AR
> Median home value: $117,200
> Median monthly housing costs with a mortgage: $1,160 — 76th lowest of 384 metros
> Share of housing units with a mortgage: 43.2% — 6th lowest of 380 metros
> Homeownership rate: 64.7% — 143rd lowest of 384 metros
> Median household income: $51,544 — 81st lowest of 384 metros
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21. Wichita Falls, TX
> Median home value: $117,000
> Median monthly housing costs with a mortgage: $1,314 — 176th lowest of 384 metros
> Share of housing units with a mortgage: 48.0% — 24th lowest of 380 metros
> Homeownership rate: 63.7% — 122nd lowest of 384 metros
> Median household income: $52,233 — 91st lowest of 384 metros
20. Battle Creek, MI
> Median home value: $115,700
> Median monthly housing costs with a mortgage: $1,062 — 33rd lowest of 384 metros (tied)
> Share of housing units with a mortgage: 59.8% — 174th lowest of 380 metros (tied)
> Homeownership rate: 73.2% — 40th highest of 384 metros
> Median household income: $49,055 — 46th lowest of 384 metros
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19. Carbondale-Marion, IL
> Median home value: $115,500
> Median monthly housing costs with a mortgage: $1,127 — 63rd lowest of 384 metros
> Share of housing units with a mortgage: 51.7% — 49th lowest of 380 metros
> Homeownership rate: 63.3% — 114th lowest of 384 metros (tied)
> Median household income: $46,882 — 21st lowest of 384 metros
18. Wheeling, WV-OH
> Median home value: $115,500
> Median monthly housing costs with a mortgage: $992 — 12th lowest of 384 metros
> Share of housing units with a mortgage: 50.9% — 42nd lowest of 380 metros
> Homeownership rate: 74.1% — 33rd highest of 384 metros
> Median household income: $50,440 — 67th lowest of 384 metros
17. Rocky Mount, NC
> Median home value: $113,900
> Median monthly housing costs with a mortgage: $1,084 — 41st lowest of 384 metros
> Share of housing units with a mortgage: 56.8% — 111th lowest of 380 metros (tied)
> Homeownership rate: 62.8% — 106th lowest of 384 metros (tied)
> Median household income: $46,466 — 20th lowest of 384 metros
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16. Elmira, NY
> Median home value: $110,900
> Median monthly housing costs with a mortgage: $1,201 — 97th lowest of 384 metros
> Share of housing units with a mortgage: 48.1% — 25th lowest of 380 metros
> Homeownership rate: 71.9% — 65th highest of 384 metros (tied)
> Median household income: $60,782 — 169th highest of 384 metros
15. Kokomo, IN
> Median home value: $109,800
> Median monthly housing costs with a mortgage: $877 — 1st lowest of 384 metros
> Share of housing units with a mortgage: 57.8% — 130th lowest of 380 metros (tied)
> Homeownership rate: 73.0% — 42nd highest of 384 metros (tied)
> Median household income: $53,440 — 102nd lowest of 384 metros
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14. Youngstown-Warren-Boardman, OH-PA
> Median home value: $108,900
> Median monthly housing costs with a mortgage: $999 — 15th lowest of 384 metros
> Share of housing units with a mortgage: 52.7% — 60th lowest of 380 metros (tied)
> Homeownership rate: 70.6% — 88th highest of 384 metros (tied)
> Median household income: $48,558 — 38th lowest of 384 metros
13. Bay City, MI
> Median home value: $108,900
> Median monthly housing costs with a mortgage: $983 — 9th lowest of 384 metros
> Share of housing units with a mortgage: 52.6% — 57th lowest of 380 metros (tied)
> Homeownership rate: 74.3% — 27th highest of 384 metros (tied)
> Median household income: $49,610 — 53rd lowest of 384 metros
12. Saginaw, MI
> Median home value: $108,300
> Median monthly housing costs with a mortgage: $1,069 — 38th lowest of 384 metros
> Share of housing units with a mortgage: 52.6% — 57th lowest of 380 metros (tied)
> Homeownership rate: 72.1% — 61st highest of 384 metros (tied)
> Median household income: $48,303 — 31st lowest of 384 metros
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11. Decatur, IL
> Median home value: $105,500
> Median monthly housing costs with a mortgage: $1,063 — 35th lowest of 384 metros
> Share of housing units with a mortgage: 52.0% — 51st lowest of 380 metros
> Homeownership rate: 68.3% — 135th highest of 384 metros
> Median household income: $50,839 — 73rd lowest of 384 metros
10. Charleston, WV
> Median home value: $105,200
> Median monthly housing costs with a mortgage: $1,017 — 20th lowest of 384 metros (tied)
> Share of housing units with a mortgage: 43.0% — 4th lowest of 380 metros (tied)
> Homeownership rate: 70.9% — 76th highest of 384 metros (tied)
> Median household income: $47,500 — 25th lowest of 384 metros
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9. Muncie, IN
> Median home value: $101,800
> Median monthly housing costs with a mortgage: $976 — 7th lowest of 384 metros
> Share of housing units with a mortgage: 58.6% — 146th lowest of 380 metros (tied)
> Homeownership rate: 61.6% — 84th lowest of 384 metros (tied)
> Median household income: $45,065 — 14th lowest of 384 metros
8. Terre Haute, IN
> Median home value: $101,000
> Median monthly housing costs with a mortgage: $971 — 5th lowest of 384 metros
> Share of housing units with a mortgage: 62.0% — 163rd highest of 380 metros (tied)
> Homeownership rate: 68.7% — 126th highest of 384 metros (tied)
> Median household income: $50,129 — 60th lowest of 384 metros
7. Beckley, WV
> Median home value: $99,400
> Median monthly housing costs with a mortgage: $996 — 13th lowest of 384 metros
> Share of housing units with a mortgage: 45.4% — 10th lowest of 380 metros
> Homeownership rate: 72.2% — 57th highest of 384 metros (tied)
> Median household income: $44,785 — 12th lowest of 384 metros
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6. Johnstown, PA
> Median home value: $96,800
> Median monthly housing costs with a mortgage: $1,058 — 32nd lowest of 384 metros
> Share of housing units with a mortgage: 46.9% — 17th lowest of 380 metros
> Homeownership rate: 74.9% — 21st highest of 384 metros (tied)
> Median household income: $49,076 — 47th lowest of 384 metros
5. Weirton-Steubenville, WV-OH
> Median home value: $95,400
> Median monthly housing costs with a mortgage: $979 — 8th lowest of 384 metros
> Share of housing units with a mortgage: 45.8% — 12th lowest of 380 metros
> Homeownership rate: 70.9% — 76th highest of 384 metros (tied)
> Median household income: $49,510 — 49th lowest of 384 metros
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4. McAllen-Edinburg-Mission, TX
> Median home value: $93,400
> Median monthly housing costs with a mortgage: $1,122 — 58th lowest of 384 metros (tied)
> Share of housing units with a mortgage: 42.0% — 3rd lowest of 380 metros
> Homeownership rate: 68.2% — 136th highest of 384 metros (tied)
> Median household income: $41,800 — 6th lowest of 384 metros
3. Brownsville-Harlingen, TX
> Median home value: $89,000
> Median monthly housing costs with a mortgage: $1,128 — 64th lowest of 384 metros
> Share of housing units with a mortgage: 40.7% — 2nd lowest of 380 metros
> Homeownership rate: 65.0% — 148th lowest of 384 metros (tied)
> Median household income: $41,123 — 3rd lowest of 384 metros
2. Pine Bluff, AR
> Median home value: $83,500
> Median monthly housing costs with a mortgage: $975 — 6th lowest of 384 metros
> Share of housing units with a mortgage: 48.4% — 27th lowest of 380 metros (tied)
> Homeownership rate: 67.7% — 149th highest of 384 metros (tied)
> Median household income: $41,541 — 5th lowest of 384 metros
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1. Danville, IL
> Median home value: $80,100
> Median monthly housing costs with a mortgage: $923 — 3rd lowest of 384 metros
> Share of housing units with a mortgage: 47.2% — 19th lowest of 380 metros (tied)
> Homeownership rate: 67.6% — 155th highest of 384 metros (tied)
> Median household income: $43,111 — 8th lowest of 384 metros
Methodology
To determine the most affordable metro areas to buy a home in the nation, 24/7 Wall St. reviewed one-year estimates of median owner-occupied home values from the U.S. Census Bureau’s 2019 American Community Survey.
We used the 384 metropolitan statistical areas as delineated by the United States Office of Management and Budget and used by the Census Bureau as our definition of metros.
Metros were ranked based on their owner-occupied median home values. To break ties, we used median monthly housing costs with a mortgage, deeming the metro area with the lower monthly cost to be the least expensive.
Additional information on median monthly housing costs with a mortgage, the share of owner-occupied housing units that have a mortgage, rates of homeownership, and median household income are also one-year estimates from the 2019 ACS.
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