The 10 Cheapest Cities Where You Can Still Buy a House Under $150K
Written by
Sarah Li Cain
Edited by
Rebekah Evans
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In many parts of the U.S., the housing market has median home prices that sold at $410,800, according to data from the Federal Reserve Bank of St. Louis (FRED). If you’re in the market for a home, there may still be some hope. Using research from Zillow’s Home Values Index, there are 10 cities where you’re most likely to buy a home at $150,000 or under.
Detroit
- Typical home value: $78,973
When it comes to Detroit, you can have amenities you’d expect from an urban area, especially if you’re close to the downtown area. Homebuyers have access to cultural amenities, accessible public transport and proximity to the suburbs.
Youngstown, Ohio
- Typical home value: $66,489
This city in Ohio offers cheaper housing, though some may need some renovations or are considered fixer uppers. The area offers more opportunities for industries such as education and healthcare.
Flint, Michigan
- Typical home value: $64,358
Yes, it’s another place in Michigan, but it is worth mentioning because of its low housing costs. Many investors and homebuyers looking for bargains tend to look here and its proximity to the more metropolitan areas can be beneficial if you’re fine with commuting to work.
However, these homes may not necessarily be move-in ready, so you need to be prepared to budget for renovations.
Toledo, Ohio
- Typical home value: $127,767
Although, according to Zillow, home values have gone slightly higher, it’s still more affordable than many parts of the country. This city located on the western shore of Lake Erie offers neighborhoods where you can still probably find single family homes for around the typical home value.
Decatur, Illinois
- Typical home value: $104,769
This city in central Illinois offers a decent cost of living, though housing inventory may be lower than other parts of the state.
Saginaw, Michigan
- Typical home value: $126,013
Saginaw is trying to focus on reviving the area by investing in development for clean energy and other sectors like innovation. It is also revitalizing its downtown area and offers diverse neighborhoods.
Huntington, West Virginia
- Typical home value: $137,982
Huntington is known for its college and employment in the medical fields. The housing market typically has older homes but ones that seem to be in decent condition. Homes are less than half of the U.S. median.
Jackson, Mississippi
- Typical home value: $81,596
Mississippi’s capital has low prices possibly because of decades of population loss. It may be worth taking a look if you’re looking for affordable suburban areas and access to university jobs like ones at Jackson State and University of Mississippi Medical Center.
Lima, Ohio
- Typical home value: $144,864
Lima is a small industrial city between Dayton and Toledo. Its economy is mostly based around manufacturing and healthcare. Homes are on the older side, but you’ll find many single family homes and detached garages, usually common with homes in the midwest.
Shreveport, Louisiana
- Typical home value: $135,735
Shreveport is in northwest Louisiana and many jobs are in the healthcare and energy industries. It’s also where the Barksdale Air Force Base is. There is decent inventory and homes tend to sit on larger lots.
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