The Cheapest Place To Buy a Home in Every Midwestern State

Known for its down-to-Earth welcoming locals, family-friendly environment and outdoor adventures, the Midwest is a region that’s alluring and affordable. The cost of living is lower in the region and owning a home is a real possibility.

Whether you’re putting down roots as a first-time buyer, looking to downsize in retirement or just looking for a cheaper alternative, GOBankingRates has rounded up the most affordable place to buy a home in every Midwestern state, using Zillow home values. 

From quiet small towns to up-and-coming cities, these are the spots where your housing dollar goes furthest.

• Cheapest place: Venice
• 2025 Zillow Home Value Index: $33,318
• Total population: 1,682

Venice is a quaint town tucked away from the hustle and bustle of city life. However, it borders Missouri so, if you’re craving excitement, you’re less than a 15-minute car ride away. While Venice offers historical sites and outdoor activities, the main draw is the affordability.

According to BestPlaces, cost of living is 17.5% lower than the national average.

• Cheapest place: Hymera
• 2025 ZHVI: $81,003
• Total population: 835

Hymera is a quiet rural area whose nearest big city is Indianapolis — about 90 miles away. The median home price is $81,000, which is 317% lower than the national average, and rent is around $850 a month (68% cheaper).

• Cheapest place: Mystic
• 2025 ZHVI: $41,357
• Total population: 257

If you’re seeking cheap housing, if you like the outdoors and if you don’t want neighbors, Mystic could be your place. While the population is under 300 people, it’s a tight-knit community with plenty of hiking, boating and swimming to do in the nearby Honey Creek State Park.

• Cheapest place: Sedan
• 2025 ZHVI: $48,162
• Total population: 1,066

Surrounded by nature trails and falls, Sedan is a small town just under two hours from Wichita. The cost of living is 31.6% lower than the national average, according to BestPlaces.

• Cheapest place: Beecher
• 2025 ZHVI: $38,929
• Total population: 8,507

Beecher is a suburb of Flint and is known for its beautiful well maintained colonial-style homes with perfect manicured lawns that are super cheap. A home will cost 89% less than the national average. Cost of living is 14.9% lower than the national average and 7% cheaper than the Michigan average. 

• Cheapest place: Elmore
• 2025 ZHVI: $73,383
• Total population: 442

Situated on the Iowa border, Elmore is a small town with a population of less than 450 that primarily depends on agriculture for work. Living in Elmore will cost 28% less than the national average.

• Cheapest place: Hillsdale
• 2025 ZHVI: $51,956
• Total population: 922

Hillsdale, a suburb of St. Louis, is mostly residential with affordable housing. It’s just a 16-minute commute to the city, making it an ideal spot to live while still being close to amenities. Cost of living is 6.9% cheaper than the national average.

• Cheapest place: Walthill
• 2025 ZHVI: $59,525
• Total population: 889

Situated near the Omaha Indian Reservation, Walthill is the cheapest area in Nebraska. A house costs 89.3% less than the national average, and the cost of living is 28.8% lower.

• Cheapest place: Drake
• 2025 ZHVI: $76,205
• Total population: 245

Deeply rooted in agriculture, the small population of Drake relies on farming for the local economy and has a strong sense of community. A house is 75% less than the national average and cost of living is 17.1% cheaper.

• Cheapest place: Drexel
• 2025 ZHVI: $57,437
• Total population: 1,659

Drexel is a small town with limited attractions, but is just 12 minutes to Dayton where you have conveniences like dining, festivals, museums and more. Cost of living is 20.2% cheaper than the American average.

• Cheapest place: Lemmon
• 2025 ZHVI: $111,270
• Total population: 1,214

Lemmon is small in size, but has plenty to offer. You can explore the Petrified Wood Park, museums or enjoy lake activities. Plus, it’s affordable. The cost of living is 26.7% lower than the national average.

• Cheapest place: Montreal
• 2025 ZHVI: $123,337
• Total population: 800

Montreal is an idyllic small town that’s nearly 20% cheaper than the national average. Housing is 67% lower than the U.S. average.

Editor’s note: Photos are for representational purposes only and might not reflect the exact locations/items listed.

Methodology: To find the cheapest place to buy a home in every state, GOBankingRates analyzed every state to find the cities with the cheapest median home values, as sourced from Zillow Home Value Index. For each city, the total population was sourced from the U.S. Census American Consumer Survey as supplemental data. All data was collected on and is up to date as of May 27, 2025.