10 Places Where Home Prices are Still Low

10 Places Where Home Prices are Still Low

Home prices may be rising, but that doesn’t mean homeownership is entirely out of reach —  no matter what your salary may be. In fact, according to Realtor.com, in some areas, buying a starter home is actually more affordable than local rents.

Are you on the hunt for your first home? Can’t afford to break the bank? Then think about picking up and moving to a new locale.

Here are 10 metros where you can still get a great deal on a home:

1. Pottsville, Pennsylvania

Just a few hours from Philadelphia is Pottsville, a small, west Pennsylvania town where homes cost a mere $109,900. It’s a fraction of the national average, which now sits at nearly $357,000, according to the National Association of REALTORS®.

2. Peoria, Illinois

Don’t let this bustling town of 110,000 confuse you. Though it’s got great schools, tons of art, and even its own zoo, it also has some of the lowest home prices in the nation. The median home price in Peoria is just $119,000.

3. Terre Haute, Indiana

Here’s another Midwest town for the bargain home hunter. Located in far eastern Indiana, it’s home to 60,000 people and some of the lowest house prices around. Homebuyers pay just $120,000 on average in the area.

4. Youngstown, Ohio

If you’re sensing a trend here, you’re right: The majority of the most affordable housing markets are in the central U.S. Located just an hour outside of Cleveland, Youngstown comes in at No. 4, boasting a median home price of just $135,000.

5. Huntington, West Virginia

Over in Huntington, the prices aren’t much higher. According to Realtor.com, the median home price sits just below $140,000 — a steal when you consider all Huntington has to do. The town is home to several museums, parks, and even a university.

Other affordable towns

The rest of the top 10 most affordable spots included Saginaw, Michigan; Davenport, Iowa; Albany, Georgia; Wichita Falls, Texas; and Joplin, Missouri. 

Just remember: While these spots may offer lower-than-average home prices, that doesn’t mean they’re ideal. As Realtor.com’s Sara Ventiera put it, “Some of them have been struggling, losing jobs and residents for years. And the main cities in these metros tend to have higher crime rates; some also have lower-performing schools. But they also offer prime opportunities for bargain hunters who can work from anywhere and can help to revitalize these areas.”

On the hunt for a house?

If you’re ready to start looking for that dream home, make sure to get preapproved first. A preapproval can help point you toward the right price range and give you a leg up on other buyers.

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By Aly Yale / November 3rd, 2021 / Categories: / Tags:

Aly Yale

Aly J. Yale is a freelance writer focusing on real estate, mortgage, and the housing market. Her work has been featured in Forbes, Bankrate, The Motley Fool, Business Insider, The Balance, and more. Prior to freelancing, she served as an editor and reporter for The Dallas Morning News. She graduated from Texas Christian University's Bob Schieffer College of Communication with a major in radio-TV-film and news-editorial journalism. Connect with her at AlyJYale.com or on Twitter at @AlyJwriter.