Housing Market 2024: 50 Most Affordable ZIP Codes in America To Buy Your First Home

For many Americans, homeownership still feels like a distant dream. Between student loan payments and the rising cost of many items — least of all groceries — you may think you simply can’t afford it. But making the dream of homeownership a reality can still be possible — if you’re willing to be a little flexible in where you live.

There are still some ZIP codes across America where buying a first home is more affordable. From the famed steps of the Philadelphia Museum of Art, where Rocky Balboa had his great run, to the peach trees of Georgia, some places offer cultural richness as well as greater opportunities to buy a first home.

• City and State: Philadelphia, Pennsylvania
• Average Home Value: $100,235
• Average Monthly Mortgage: $589.32
• Average Annual Mortgage: $7,071.78

• City and State: Philadelphia, Pennsylvania
• Average Home Value: $120,117
• Average Monthly Mortgage: $706.21
• Average Annual Mortgage: $8,474.51

• City and State: Chicago, Illinois 
• Average Home Value: $127,848
• Average Monthly Mortgage: $751.66
• Average Annual Mortgage: $9,019.88

• City and State: Augusta, Georgia
• Average Home Value: $134,954
• Average Monthly Mortgage: $793.44
• Average Annual Mortgage: $9,521.28

• City and State: Columbus, Georgia 
• Average Home Value: $145,474
• Average Monthly Mortgage: $855.29
• Average Annual Mortgage: $10,263.48

• City and State: Chicago, Illinois 
• Average Home Value: $151,593
• Average Monthly Mortgage: $891.27
• Average Annual Mortgage: $10,695.19

• City and State: Philadelphia, Pennsylvania
• Average Home Value: $151,594
• Average Monthly Mortgage: $891.27
• Average Annual Mortgage: $10,696.23

• City and State: Philadelphia, Pennsylvania
• Average Home Value: $152,061
• Average Monthly Mortgage: $894.02
• Average Annual Mortgage: $10,728.21

• City and State: Chicago, Illinois 
• Average Home Value: $153,582
• Average Monthly Mortgage: $902.96
• Average Annual Mortgage: $10,835.49

• City and State: Chicago, Illinois 
• Average Home Value: $153,787
• Average Monthly Mortgage: $904.16
• Average Annual Mortgage: $10,849.93

• City and State: Elyria, Ohio
• Average Home Value: $156,216
• Average Monthly Mortgage: $918.44
• Average Annual Mortgage: $11,021.31

• City and State: Brownsville, Texas
• Average Home Value: $159,051
• Average Monthly Mortgage: $935.11
• Average Annual Mortgage: $11,221.31

• City and State: Pharr, Texas
• Average Home Value: $159,913
• Average Monthly Mortgage: $940.18
• Average Annual Mortgage: $11,282.16

• City and State: Taylor, Michigan 
• Average Home Value: $161,449 
• Average Monthly Mortgage: $949.21
• Average Annual Mortgage: $11,390.54

• City and State: El Paso, Texas
• Average Home Value: $176,303
• Average Monthly Mortgage: $1,036.54
• Average Annual Mortgage: $12,438.53

• City and State: Brownsville, Texas
• Average Home Value: $177,257
• Average Monthly Mortgage: $1,042.15
• Average Annual Mortgage: $12,505.79

• City and State: Chicago, Illinois 
• Average Home Value: $183,815
• Average Monthly Mortgage: $1,080.71
• Average Annual Mortgage: $12,968.49

• City and State: Mission, Texas
• Average Home Value: $186,178
• Average Monthly Mortgage: $1,094.60
• Average Annual Mortgage: $13,135.20

• City and State: Waukegan, Illinois 
• Average Home Value: $189,241
• Average Monthly Mortgage: $1,112.61
• Average Annual Mortgage: $13,351.33

• City and State: McAllen, Texas
• Average Home Value: $192,183
• Average Monthly Mortgage: $1,129.91
• Average Annual Mortgage: $13,558.87

• City and State: Dallas, Texas
• Average Home Value: $202,936
• Average Monthly Mortgage: $1,193.13
• Average Annual Mortgage: $14,317.54

• City and State: El Paso, Texas
• Average Home Value: $207,930
• Average Monthly Mortgage: $1,222.49
• Average Annual Mortgage: $14,669.83

• City and State: Dundalk, Maryland
• Average Home Value: $209,378
• Average Monthly Mortgage: $1,231
• Average Annual Mortgage: $14,771.98

• City and State: Greensboro, North Carolina 
• Average Home Value: $210,502
• Average Monthly Mortgage: $1,237.61
• Average Annual Mortgage: $14,851.27

• City and State: Moore, Oklahoma
• Average Home Value: $211,383
• Average Monthly Mortgage: $1,242.79
• Average Annual Mortgage: $14,913.48

• City and State: Houston, Texas
• Average Home Value: $217,747
• Average Monthly Mortgage: $1,280.20
• Average Annual Mortgage: $15,362.44

• City and State: Chicago, Illinois 
• Average Home Value: $219,760
• Average Monthly Mortgage: $1,292.04
• Average Annual Mortgage: $15,504.45

• City and State: Bowling Green, Kentucky
• Average Home Value: $219,922
• Average Monthly Mortgage: $1,292.99
• Average Annual Mortgage: $15,515.91

• City and State: Newark, Ohio 
• Average Home Value: $220,980
• Average Monthly Mortgage: $1,299.21
• Average Annual Mortgage: $15,590.55

• City and State: Chicago, Illinois 
• Average Home Value: $228,884
• Average Monthly Mortgage: $1,345.68
• Average Annual Mortgage: $16,148.20

• Zipcode: 60629
• City and State: Chicago, Illinois 
• Average Home Value: $232,364
• Average Monthly Mortgage: $1,366.15 
• Average Annual Mortgage: $16,393.74

• City and State: Dallas, Texas
• Average Home Value: $232,435 
• Average Monthly Mortgage: $1,366.56
• Average Annual Mortgage: $16,398.74

• City and State: Lancaster, Ohio 
• Average Home Value: $236,208
• Average Monthly Mortgage: $1,388.74
• Average Annual Mortgage: $16,664.89

• City and State: Cicero, Illinois 
• Average Home Value: $236,648
• Average Monthly Mortgage: $1,391.33
• Average Annual Mortgage: $16,695.96

• City and State: Denham Springs, Louisiana 
• Average Home Value: $238,007
• Average Monthly Mortgage: $1,399.32
• Average Annual Mortgage: $16,791.83

• City and State: Round Lake, Illinois 
• Average Home Value: $240,306
• Average Monthly Mortgage: $1,412.84
• Average Annual Mortgage: $16,954.03

• City and State: Chicago, Illinois 
• Average Home Value: $247,637
• Average Monthly Mortgage: $1,455.94
• Average Annual Mortgage: $17,471.27

• City and State: Spring, Texas 
• Average Home Value: $248, 799
• Average Monthly Mortgage: $1,462.77
• Average Annual Mortgage: $17,553.21

• City and State: Baytown, Texas
• Average Home Value: $249,753
• Average Monthly Mortgage: $1,463.38
• Average Annual Mortgage: $17,620.50

• City and State: Broken Arrow, Oklahoma
• Average Home Value: $252,672
• Average Monthly Mortgage: $1,485.54
• Average Annual Mortgage: $17,826.48

• City and State: McAllen, Texas
• Average Home Value: $255,632
• Average Monthly Mortgage: $1,502.94
• Average Annual Mortgage: $18,035.30

• City and State: Yuma, Arizona
• Average Home Value: $256,610
• Average Monthly Mortgage: $1,508.69
• Average Annual Mortgage: $18,104.32

• City and State: Richmond, Kentucky 
• Average Home Value: $256,842
• Average Monthly Mortgage: $1,510.06
• Average Annual Mortgage: $18,120.68

• City and State: Yukon, Oklahoma
• Average Home Value: $258,787
• Average Monthly Mortgage: $1,521.49
• Average Annual Mortgage: $18,257.87

• City and State: Historic New Castle, Delaware 
• Average Home Value: $259,775
• Average Monthly Mortgage: $1,527.30
• Average Annual Mortgage: $18,327.58

• City and State: San Antonio, Texas 
• Average Home Value: $265,457
• Average Monthly Mortgage: $1,560.70
• Average Annual Mortgage: $18,728.45

• City and State: Mentor, Ohio
• Average Home Value: $266,602
• Average Monthly Mortgage: $1,567.44
• Average Annual Mortgage: $18,809.23

• City and State: Lithonia, Georgia
• Average Home Value: $266,786
• Average Monthly Mortgage: $1,568.52
• Average Annual Mortgage: $18,882.27

• City and State: Hagerstown, Maryland
• Average Home Value: $267,888
• Average Monthly Mortgage: $1,575
• Average Annual Mortgage: $18,900

• City and State: Jacksonville, Florida
• Average Home Value: $268,422
• Average Monthly Mortgage: $1,578.14
• Average Annual Mortgage: $18,937.69

Methodology: For this study, GOBankingRates analyzed the top 500 zip codes in terms of population as sourced from the US Census American Community Survey. For each of the top 500 most populated zip codes, the average single family home value was found from the Zillow Home Value Index. The average mortgage can be calculated by assuming a 10% down payment and using the national 30 year fixed rate mortgage as sourced from the Federal Reserve Economic Data. The total population, total households, population aged 20 to 39, and median household income was all sourced from the US Census American Community Survey. All data was collected on and is up to date as of April 18, 2024.