As mortgage rates and home prices remain high, budget-conscious homebuyers are looking for more affordable places to live — and these tend to be up-and-coming markets.
GOBankingRates looked at all cities with a 2024 average home value below the national average of $361,779 that had good livability scores to find this list of ten where you can live a great life on a budget.
The index found that savvy homebuyers are seeking out affordable cities located in the South Midwest and East Coast. Here’s a look at the top 10 markets where the budget-minded are moving.
10. Lubbock, Texas
- Average home value: $209,769
Lubbock’s average home value is $152,010 cheaper than the national average.
9. Tulsa, Oklahoma
- Average home value: $209,570
Tulsa’s average home value is $152,209 cheaper than the national average.
8. Oklahoma City
- Average home value: $207,630
Oklahoma City’s average home value is $154,149 cheaper than the national average.
7. Milwaukee
- Average home value: $206,169
Milwaukee’s average home value is $155,610 cheaper than the national average.
6. Des Moines, Iowa
- Average home value: $205,473
Des Moines’ average home value is $156,306 cheaper than the national average.
5. Syracuse, New York
- Average home value: $187,525
Syracuse’s average home value is $174,254 cheaper than the national average.
4. Brownsville, Texas
- Average home value: $186,251
Brownsville’s average home value is $175,528 cheaper than the national average.
3. Baltimore
- Average home value: $186,193
Baltimore’s average home value is $175,586 cheaper than the national average.
2. Eerie, Pennsylvania
- Average home value: $177,169
Erie’s average home value is $184,610 cheaper than the national average.
1. Akron, Ohio
- Average home value: $131,482
Akron’s average home value is $230,297 cheaper than the national average.
Jordan Rosenfeld contributed to the reporting for this article.
Methodology: For this piece GOBankingRates looked at all cities with a 2024 average home value below the national average of $361,779 using home values sourced from Zillow. With these cities isolated GOBankingRates found the 10 cities with the greatest difference in home price from the national average from both a monetary and percent value. To be considered a city had to be one the biggest 200 cities in America as well as having a livability score above 75 as sourced from AreaVibes. All data was collected and up to date as of July 16, 2024.