13 States Where You Can Buy a House on a $50K Salary or Less

In June 2020, the median sales price of homes in the U.S. was $317,100. Fast-forward just four years, and the median home sales price is now $412,300 — a massive 30% jump in value.

Unfortunately, wages aren’t growing quickly enough to keep up with home price increases. In June 2020, the average full-time worker earned $1,008 weekly. Today’s full-time employees earn an average of $1,151 weekly — a rise of 14.2%. The increase in house prices outpaces earnings, making it harder for many to afford a home, especially first-time homebuyers who don’t already have equity in an existing house or a sizable down payment to offer.

High interest rates aren’t helping, either. Current interest rates for a 30-year mortgage average 6.49%, compared with 2.99% in July 2020. That drives up monthly mortgage payments even further, making borrowing much more expensive.

However, the housing market isn’t all bad news for homebuyers. In some states, you may still be able to afford a home, even if your household income is $50,000 or less. States with affordable housing also generally have a lower cost of living, so groceries, utilities and transportation costs may be within your budget.

Take a look at these 13 states where you can afford a home on a $50,000 salary or less, according to data from a recent GOBankingRates study.

• Minimum salary needed to comfortably afford a home: $32,418
• 2024 average home value: $155,080
• Overall cost of living: 20.6% cheaper than the national average
• Groceries: 4.2% cheaper than the national average
• Healthcare: 27% more expensive than the national average
• Utilities: 14.1% cheaper than the national average
• Transportation: 9.9% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $35,674
• 2024 average home value: $170,653
• Overall cost of living: 21.3% cheaper than the national average
• Groceries: 5.1% cheaper than the national average
• Healthcare: 1.9% more expensive than the national average
• Utilities: 2.9% cheaper than the national average
• Transportation: 16.6% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $40,813
• 2024 average home value: $195,240
• Overall cost of living: 10.1% cheaper than the national average
• Groceries: 7.3% cheaper than the national average
• Healthcare: 13.2% more expensive than the national average
• Utilities: 10.1% cheaper than the national average
• Transportation: 8.2% more expensive than the national average

• Minimum salary needed to comfortably afford a home: $41,058
• 2024 average home value: $196,412
• Overall cost of living: 17.7% cheaper than the national average
• Groceries: 5.8% cheaper than the national average
• Healthcare: 2.2% more expensive than the national average
• Utilities: 7.1% cheaper than the national average
• Transportation: 10.9% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $41,467
• 2024 average home value: $198,364
• Overall cost of living: 22.5% cheaper than the national average
• Groceries: 7.3% cheaper than the national average
• Healthcare: 7.9% cheaper than the national average
• Utilities: 4.4% cheaper than the national average
• Transportation: 18.4% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $41,840
• 2024 average home value: $200,153
• Overall cost of living: 17.8% cheaper than the national average
• Groceries: 7.7% cheaper than the national average
• Healthcare: 13.8% more expensive than the national average
• Utilities: 0.3% cheaper than the national average
• Transportation: 10.8% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $44,394
• 2024 average home value: $212,367
• Overall cost of living: 19.9% cheaper than the national average
• Groceries: 5.6% cheaper than the national average
• Healthcare: 8.2% more expensive than the national average
• Utilities: 1.5% cheaper than the national average
• Transportation: 28.6% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $45,533
• 2024 average home value: $217,817
• Overall cost of living: 16.9% cheaper than the national average
• Groceries: 7% cheaper than the national average
• Healthcare: 3.9% more expensive than the national average
• Utilities: 4.4% more expensive than the national average
• Transportation: 20.7% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $45,572
• 2024 average home value: $218,004
• Overall cost of living: 15.9% cheaper than the national average
• Groceries: 5.6% cheaper than the national average
• Healthcare: 18.9% more expensive than the national average
• Utilities: 1.2% more expensive than the national average
• Transportation: 14.1% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $45,683
• 2024 average home value: $218,535
• Overall cost of living: 17.3% cheaper than the national average
• Groceries: 3.9% cheaper than the national average
• Healthcare: 11.3% cheaper than the national average
• Utilities: Same as the national average
• Transportation: 16.1% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $48,106
• 2024 average home value: $230,125
• Overall cost of living: 8.5% cheaper than the national average
• Groceries: 6.6% cheaper than the national average
• Healthcare: 15.2% cheaper than the national average
• Utilities: 0.1% more expensive than the national average
• Transportation: 15.1% more expensive than the national average

• Minimum salary needed to comfortably afford a home: $48,347
• 2024 average home value: $231,278
• Overall cost of living: 16.3% cheaper than the national average
• Groceries: 7.1% cheaper than the national average
• Healthcare: 5.6% cheaper than the national average
• Utilities: 2.8% cheaper than the national average
• Transportation: 14.6% cheaper than the national average

• Minimum salary needed to comfortably afford a home: $49,921
• 2024 average home value: $238,808
• Overall cost of living: 14.4% cheaper than the national average
• Groceries: 5.1% cheaper than the national average
• Healthcare: 4.3% more expensive than the national average
• Utilities: 1.5% cheaper than the national average
• Transportation: 13.8% cheaper than the national average

Cost of living information was sourced from Sperling’s BestPlaces.