Cheapest Places To Buy a Home in Every State
These cities offer the most affordable homes around.
According to Zillow, the typical home value in the United States is $259,906. Depending on the home, the state, the neighborhood, and the market, however, that amount can be far from typical.
Despite the pandemic and the economic fallout it created, the early pessimism expressed by so many housing experts has been largely unfounded. In much of the country, the housing market is sizzling — a red-hot seller’s market. Although many are still bracing for what they consider to be the inevitable crash, inventory is not staying on the market for long despite the fact that prices have been on the rise throughout the summer.
Despite all that, every state is home to at least a handful of places where buyers can expect to scoop up a house on the cheap. In order to find the least expensive places to buy a home, GOBankingRates used data from Zillow and the U.S. Census Bureau to analyze every significant city in all 50 states and chose three to five places where houses are a steal. Here’s where homebuyers on a budget should start their search.
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Wyoming
- Evanston
- 2020 typical home value: $187,843
- Riverton
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- 2020 typical home value: $193,598
- Casper
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- 2020 typical home value: $211,879
- Rock Springs
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- 2020 typical home value: $238,702
- Green River
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- 2020 typical home value: $244,810
More From GOBankingRates
Methodology: In order to find the cheapest places to buy a home in every state, GOBankingRates looked at every city in each state with a population over 30,000 (10,000 in select states due to low population or limited data availability), as sourced from the U.S. Census Bureau’s 2018 American Community Survey 5-year estimates. Then, GOBankingRates identified the 3 to 5 qualifying cities in each state with the lowest average 2020 typical home value, sourced from Zillow’s home value index. All data were collected on and is up to date as of Oct. 7, 2020.
Researcher’s note: Because cities were selected for the final ranking based solely on their home values compared to others in their state, some cities may have prices above the national average or other economic problems that drive home prices down.
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