50 Cities Where You Can Find a House for Less Than $200K

As home prices continue to soar, many individuals interested in becoming homeowners may feel discouraged by the current pricey real estate. If you have the ability to relocate or move to a different city, however, you’ll be able to shop a wide range of homes under $200,000 all while enjoying a lifestyle with lower cost-of-living expenses.

Where should potential buyers look for cheap real estate? To find out, GOBankingRates found the average home value in U.S. cities with a population of at least 1,000 residents. The average mortgage cost was then calculated assuming a 10% down payment. Additional factors, including the average mortgage and livability index, were also sourced as supplemental information. Within the top 50 cities ranked in our list, Ohio has the most cities, 14, with homes under $200K for sale

Ranked by lowest to highest livability score (the higher the score, the more a city may have to offer), see 50 cities where buyers can find a home under $200K.

• Average home value (March 2024): $184,213.12
• 10% down payment: $18,421.3
• Average monthly mortgage cost: $1,122.01
• Average annual mortgage cost: $13,464.12
• Livability: 79

• Average home value (March 2024): $177,119.04
• 10% down payment: $17,711.9
• Average monthly mortgage cost: $1,078.80
• Average annual mortgage cost: $12,945.62
• Livability: 79

• Average home value (March 2024): $163,599.15
• 10% down payment: $16,359.9
• Average monthly mortgage cost: $996.45
• Average annual mortgage cost: $11,957.45
• Livability: 79

• Average home value (March 2024): $182,288.06
• 10% down payment: $18,228.8
• Average monthly mortgage cost: $1,110.29
• Average annual mortgage cost: $13,323.42
• Livability: 79

• Average home value (March 2024): $196,208.07
• 10% down payment: $19,620.8 
• Average monthly mortgage cost: $1,195.07
• Average annual mortgage cost: $14,340.83
• Livability: 79

• Average home value (March 2024): $176,815.50
• 10% down payment: $17,681.6
• Average monthly mortgage cost: $1,076.95
• Average annual mortgage cost: $12,923.43
• Livability: 79

• Average home value (March 2024): $170,124.43
• 10% down payment: $17,012.4
• Average monthly mortgage cost: $1,036.20
• Average annual mortgage cost: $12,434.38
• Livability: 79

• Average home value (March 2024): $181,766.57
• 10% down payment: $18,176.7
• Average monthly mortgage cost: $1,107.11
• Average annual mortgage cost: $13,285.30
• Livability: 79

• Average home value (March 2024): $171,493.97
• 10% down payment: $17,149.4
• Average monthly mortgage cost: $1,044.54
• Average annual mortgage cost: $12,534.48
• Livability: 79

• Average home value (March 2024): $193,527.43
• 10% down payment: $19,352.7
• Average monthly mortgage cost: $1,178.74
• Average annual mortgage cost: $14,144.90
• Livability: 79

• Average home value (March 2024): $178,953.71
• 10% down payment: $17,895.4
• Average monthly mortgage cost: $1,089.98
• Average annual mortgage cost: $13,079.71
• Livability: 79

• Average home value (March 2024): $151,621.12
• 10% down payment: $15,162.1
• Average monthly mortgage cost: $923.50
• Average annual mortgage cost: $11,081.98
• Livability: 79

• Average home value (March 2024): $183,965.78
• 10% down payment: $18,396.6
• Average monthly mortgage cost: $1,120.50
• Average annual mortgage cost: $13,446.04
• Livability: 79

• Average home value (March 2024): $195,502.43
• 10% down payment: $19,550.2
• Average monthly mortgage cost: $1,190.77
• Average annual mortgage cost: $14,289.26
• Livability: 80

• Average home value (March 2024): $181,888.02
• 10% down payment: $18,188.8
• Average monthly mortgage cost: $1,107.85
• Average annual mortgage cost: $13,294.18
• Livability: 80

• Average home value (March 2024): $199,841.41
• 10% down payment: $19,984.1
• Average monthly mortgage cost: $1,217.20
• Average annual mortgage cost: $14,606.39
• Livability: 80

• Average home value (March 2024): $146,399.59
• 10% down payment: $14,640.0
• Average monthly mortgage cost: $891.69
• Average annual mortgage cost: $10,700.33
• Livability: 80

• Average home value (March 2024): $166,106.57
• 10% down payment: $16,610.7
• Average monthly mortgage cost: $1,011.73
• Average annual mortgage cost: $12,140.72
• Livability: 80

• Average home value (March 2024): $120,275.72
• 10% down payment: $12,027.6
• Average monthly mortgage cost: $732.58
• Average annual mortgage cost: $8,790.94
• Livability: 80

• Average home value (March 2024): $55,817.97
• 10% down payment: $5,581.8
• Average monthly mortgage cost: $339.98
• Average annual mortgage cost: $4,079.73
• Livability: 80

• Average home value (March 2024): $137,054.67
• 10% down payment: $13,705.5
• Average monthly mortgage cost: $834.78
• Average annual mortgage cost: $10,017.32
• Livability: 80

• Average home value (March 2024): $187,291.60
• 10% down payment: $18,729.2
• Average monthly mortgage cost: $1,140.76
• Average annual mortgage cost: $13,689.13
• Livability: 80

• Average home value (March 2024): $126,630.70
• 10% down payment: $12,663.1
• Average monthly mortgage cost: $771.29
• Average annual mortgage cost: $9,255.43
• Livability: 80

• Average home value (March 2024): $174,018.19
• 10% down payment: $17,401.8
• Average monthly mortgage cost: $1,059.91
• Average annual mortgage cost: $12,718.98
• Livability: 81

• Average home value (March 2024): $176,717.19
• 10% down payment: $17,671.7
• Average monthly mortgage cost: $1,076.35
• Average annual mortgage cost: $12,916.25
• Livability: 81

• Average home value (March 2024): $158,291.94
• 10% down payment: $15,829.2
• Average monthly mortgage cost: $964.13
• Average annual mortgage cost: $11,569.55
• Livability: 81

• Average home value (March 2024): $151,827.99
• 10% down payment: $15,182.8
• Average monthly mortgage cost: $924.76
• Average annual mortgage cost: $11,097.10
• Livability: 81

• Average home value (March 2024): $97,091.75
• 10% down payment: $9,709.2
• Average monthly mortgage cost: $591.37
• Average annual mortgage cost: $7,096.43
• Livability: 81

• Average home value (March 2024): $138,746.06
• 10% down payment: $13,874.6
• Average monthly mortgage cost: $845.08
• Average annual mortgage cost: $10,140.94
• Livability: 81

• Average home value (March 2024): $141,284.83
• 10% down payment: $14,128.5
• Average monthly mortgage cost: $860.54
• Average annual mortgage cost: $10,326.50
• Livability: 81

• Average home value (March 2024): $135,149.70
• 10% down payment: $13,515.0
• Average monthly mortgage cost: $823.17
• Average annual mortgage cost: $9,878.08
• Livability: 81

• Average home value (March 2024): $194,315.35
• 10% down payment: $19,431.5
• Average monthly mortgage cost: $1,183.54
• Average annual mortgage cost: $14,202.49
• Livability: 81

• Average home value (March 2024): $199,738.82
• 10% down payment: $19,973.9
• Average monthly mortgage cost: $1,216.57
• Average annual mortgage cost: $14,598.89
• Livability: 81

• Average home value (March 2024): $110,099.76
• 10% down payment: $11,010.0
• Average monthly mortgage cost: $670.60
• Average annual mortgage cost: $8,047.18
• Livability: 82

• Average home value (March 2024): $170,823.94
• 10% down payment: $17,082.4
• Average monthly mortgage cost: $1,040.46
• Average annual mortgage cost: $12,485.51
• Livability: 82

• Average home value (March 2024): $197,589.09
• 10% down payment: $19,758.9
• Average monthly mortgage cost: $1,203.48
• Average annual mortgage cost: $14,441.77
• Livability: 82

• Average home value (March 2024): $195,989.44
• 10% down payment: $19,598.9
• Average monthly mortgage cost: $1,193.74
• Average annual mortgage cost: $14,324.85
• Livability: 82

• Average home value (March 2024): $195,964.23
• 10% down payment: $19,596.4
• Average monthly mortgage cost: $1,193.58
• Average annual mortgage cost: $14,323.01
• Livability: 82

• Average home value (March 2024): $173,679.34
• 10% down payment: $17,367.9
• Average monthly mortgage cost: $1,057.85
• Average annual mortgage cost: $12,694.21
• Livability: 82

• Average home value (March 2024): $186,921.38
• 10% down payment: $18,692.1
• Average monthly mortgage cost: $1,138.51
• Average annual mortgage cost: $13,662.07
• Livability: 83

• Average home value (March 2024): $149,601.02
• 10% down payment: $14,960.1
• Average monthly mortgage cost: $911.19
• Average annual mortgage cost: $10,934.33
• Livability: 83

• Average home value (March 2024): $196,298.28
• 10% down payment: $19,629.8
• Average monthly mortgage cost: $1,195.62
• Average annual mortgage cost: $14,347.43
• Livability: 84

• Average home value (March 2024): $163,312.26
• 10% down payment: $16,331.2
• Average monthly mortgage cost: $994.71
• Average annual mortgage cost: $11,936.48
• Livability: 84

• Average home value (March 2024): $148,407.12
• 10% down payment: $14,840.7
• Average monthly mortgage cost: $903.92
• Average annual mortgage cost: $10,847.06
• Livability: 85

• Average home value (March 2024): $181,826.58
• 10% down payment: $18,182.7
• Average monthly mortgage cost: $1,107.47
• Average annual mortgage cost: $13,289.69
• Livability: 85

• Average home value (March 2024): $162,497.18
• 10% down payment: $16,249.7
• Average monthly mortgage cost: $989.74
• Average annual mortgage cost: $11,876.91
• Livability: 86

• Average home value (March 2024): $132,944.35
• 10% down payment: $13,294.4
• Average monthly mortgage cost: $809.74
• Average annual mortgage cost: $9,716.89
• Livability: 87

• Average home value (March 2024): $186,328.89
• 10% down payment: $18,632.9
• Average monthly mortgage cost: $1,134.90
• Average annual mortgage cost: $13,618.76
• Livability: 87

• Average home value (March 2024): $180,422.75
• 10% down payment: $18,042.3
• Average monthly mortgage cost: $1,098.92
• Average annual mortgage cost: $13,187.08
• Livability: 88

• Average home value (March 2024): $197,182.72
• 10% down payment: $19,718.3
• Average monthly mortgage cost: $1,201.01
• Average annual mortgage cost: $14,412.07
• Livability: 88

Heather Taylor contributed to the reporting for this piece.

Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.

Methodology: For this study, GOBankingRates analyzed US cities to find the best places where you can afford a home for less than $200k. First GOBankingRates found the average home value in cities across the country with a population of at least 1,000 residents, with the population data sourced from the US Census American Community Survey and the home value sourced from Zillow Home Value Index for March 2024. Cities with a home value over $200,000 were removed for this study. Assuming a 10% down payment and using the 30 year national fixed mortgage rate as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. The average mortgage was included as supplemental information. The livability index for each city was sourced from AreaVibes and included as a factor for quality of life. The remaining cities are all within the price range and were sorted to show the highest to lowest livability, representing the highest quality of life cities that you can afford a house for less than $200k. All data was collected on and is up to date as of April 30, 2024.