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These Are the Cheapest American Cities to Buy a Home in Right Now

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Syracuse, New York

Syracuse, New York
Photo: Wankun Jia (shutter stock)

It can be difficult to keep up with the ever-changing housing market. The process of buying and selling homes has become more complex as so many factors are at play, including the pandemic, rising interest rates and housing shortages. And, in many situations, more expensive.

But not everywhere.according to New report from Realtor.com“Some cities still have vibrant housing markets, and low prices have somewhat shielded them from the impact of higher mortgage rates.”

So where are these affordable housing havens? Here’s what you need to know about the 10 cheapest US cities to buy a home right now.

The 10 cheapest US cities to buy a home right now

First, there are a few things you should know about these cities. Today, most of the affordable housing market in the United States is located in cities that at some point in history were thriving as industrial or manufacturing centers, transportation and commercial centers, or state capitals, before declining sharply.

Plenty of housing was constructed during the city’s boom times in order accommodate people relocating there for jobs. But when industry left town, plants closed, or train routes were no longer in service, the city fell into economic hard times, and saw its population dwindle.

Flash forward to today, and these cities have a larger supply of housing available at prices more affordable than other urban areas in the country. Here are the 10 cheapest markets, according to Data Realtor .com:

1. Youngstown, Ohio

Median house price per square foot: $95
Median Home Price: $149,900

2. Scranton, Pennsylvania

Median house price per square foot: $124
Median Home Price: $225,000

3. Syracuse, New York

Median house price per square foot: $130
Median Home Price: $217,250

4. Wichita, Kansas

Median house price per square foot: $134
Median Home Price: $304,475

5. Jackson, Mississippi

Median house price per square foot: $138
Median Home Price: $299,000

6. Little Rock, Arkansas

Median house price per square foot: $141
Median Home Price: $298,873

7. Indianapolis, Indiana

Median house price per square foot: $144
Median Home Price: $300,000

8. McAllen, Texas

Median house price per square foot: $144
Median Home Price: $270,000

9. Columbia, South Carolina

Median house price per square foot: $146
Median Home Price: $308,900

10. Augusta, Georgia

Median house price per square foot: $150
Median Home Price: $311,575

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