10 Safest Cities To Buy a Home for Less Than $500K

Safety and affordability are two of the most important factors when house-hunting, but not all affordable cities are necessarily safe. However, that doesn’t mean you have to make compromises.

Using data from Zillow, the U.S. Census Bureau, the Bureau of Labor Statistics and Sperling’s Best Places, GOBankingRates identified the best buy a home for less than $500,000. The cities on this list were also ranked in terms of safety using data from a 2023 Safest Cities in America analysis published by WalletHub. The analysis compared 182 cities across the U.S.

The median sales price for a new single-family home was $433,500 in April 2024, according to the U.S. Census Bureau. Although you may be able to afford the median-priced home with a $500,000 budget, you may not have as much wiggle room. Luckily, the average home value in many cities on this list is under $400,000, and some are even closer to $200,000.

• Feb 2024 Average Home Value: $217,672
• Average Annual Mortgage: $15,451
• Average Annual Cost of Expenditure: $21,944

El Paso in West Texas was ranked 125 on WalletHub’s list. The city also has a cost of living that’s 18.1% lower than the U.S. average.

• Feb 2024 Average Home Value: $238,682
• Average Annual Mortgage: $16,943
• Average Annual Cost of Expenditure: $22,485

Coming in at number 123 in terms of safety, Louisville residents enjoy a lower cost of living, which is 10% lower than the national average.

• Feb 2024 Average Home Value: $380,682
• Average Annual Mortgage: $27,022
• Average Annual Cost of Expenditure: $24,926

Fresno’s cost of living is higher than that of the U.S., but it’s 31% lower than California’s. WalletHub ranked Fresno 122 in its analysis.

• Feb 2024 Average Home Value: $443,565
• Average Annual Mortgage: $31,486
• Average Annual Cost of Expenditure: $24,153

Nashville ranked 116th in safety, and its cost of living is 5% higher than the national average.

• Feb 2024 Average Home Value: $334,779
• Average Annual Mortgage: $23,764
• Average Annual Cost of Expenditure: $22,799

Tucson has a cost of living that’s 3% lower than the national average. In terms of safety, Tucson comes in at 111.

• Feb 2024 Average Home Value: $302,376
• Average Annual Mortgage: $21,464
• Average Annual Cost of Expenditure: $24,571

Fort Worth, Texas, ranks 109 for safety. The city’s cost of living is higher nationally and within the state of Texas, but it’s only 2% higher than the national average.

• Feb 2024 Average Home Value: $478,382
• Average Annual Mortgage: $33,958
• Average Annual Cost of Expenditure: $26,770

WalletHub placed Sacramento at 103 on its list, but the cost of living in this city is 27 higher than the U.S. average. However, you can still purchase a home here for under $500,000.

• Feb 2024 Average Home Value: $302,792
• Average Annual Mortgage: $21,494
• Average Annual Cost of Expenditure: $24,292

Jacksonville has a lower cost of living nationally and within the state of Florida. It’s also a fairly safe city and came in at number 91 on WalletHub’s list.

• Feb 2024 Average Home Value: $254,946
• Average Annual Mortgage: $18,097
• Average Annual Cost of Expenditure: $23,295

San Antonio’s cost of living is 9% lower than the national average, and 3% lower than the state of Texas. The city also placed 79th in terms of safety.

• Feb 2024 Average Home Value: $399,412
• Average Annual Mortgage: $28,352
• Average Annual Cost of Expenditure: $24,391

Coming in first, Charlotte placed 45th on WalletHub’s list. The city does have a slightly higher cost of living (3%) compared to the national average, and it’s about 13% higher compared to North Carolina’s average.