The 50 Best Places To Buy a Home for Under $300,000
The median home value is now nearly $350,000, making homes unaffordable for many Americans. Fortunately, there are still major cities where you can find homes for under $300,000.
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To find the 50 best cities to buy a home for under $300,000, GOBankingRates analyzed the 100 most populous cities where average home values remained below that threshold for the past year. Once these cities were identified, GOBankingRates ranked cities based on median household income, livability, crime rates, unemployment rates, percent of the population living below the poverty line and annual cost of living expenditures.
1. Midland, Texas
Average home value (February 2023 to February 2024): $288,282
Livability score (out of 100): 78
Median household income: $90,448
Unemployment rate: 2.6%
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2. Aurora, Illinois
Average home value (February 2023 to February 2024): $271,493
Livability score (out of 100): 71
Median household income: $85,943
Unemployment rate: 4.8%
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3. Huntsville, Alabama
Average home value (February 2023 to February 2024): $280,969
Livability score (out of 100): 83
Median household income: $67,874
Unemployment rate: 2.7%
4. Lexington, Kentucky
Average home value (February 2023 to February 2024): $288,166
Livability score (out of 100): 87
Median household income: $66,087
Unemployment rate: 3.8%
5. Fort Wayne, Indiana
Average home value (February 2023 to February 2024): $213,370
Livability score (out of 100): 84
Median household income: $58,233
Unemployment rate: 3.5%
6. Lincoln, Nebraska
Average home value (February 2023 to February 2024): $268,558
Livability score (out of 100): 84
Median household income: $67,846
Unemployment rate: 2.4%
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7. Des Moines, Iowa
Average home value (February 2023 to February 2024): $188,385
Livability score (out of 100): 83
Median household income: $62,378
Unemployment rate: 3.3%
8. Pensacola, Florida
Average home value (February 2023 to February 2024): $251,740
Livability score (out of 100): 83
Median household income: $67,722
Unemployment rate: 3.4%
9. Cedar Rapids, Iowa
Average home value (February 2023 to February 2024): $194,418
Livability score (out of 100): 76
Median household income: $66,895
Unemployment rate: 3.9%
10. Clarksville, Tennessee
Average home value (February 2023 to February 2024): $296,021
Livability score (out of 100): 83
Median household income: $62,688
Unemployment rate: 4.3%
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11. Omaha, Nebraska
Average home value (February 2023 to February 2024): $268,291
Livability score (out of 100): 83
Median household income: $70,202
Unemployment rate: 3%
12. Sterling Heights, Michigan
Average home value (February 2023 to February 2024): $283,957
Livability score (out of 100): 74
Median household income: $75,381
Unemployment rate: 3.9%
Pictured: Detroit
13. Greenville, South Carolina
Average home value (February 2023 to February 2024): $290,072
Livability score (out of 100): 82
Median household income: $65,519
Unemployment rate: 3.1%
14. Kansas City, Kansas
Average home value (February 2023 to February 2024): $171,726
Livability score (out of 100): 75
Median household income: $56,120
Unemployment rate: 3.3%
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15. Hampton, Virginia
Average home value (February 2023 to February 2024): $251,977
Livability score (out of 100): 74
Median household income: $64,430
Unemployment rate: 2.9%
16. Odessa, Texas
Average home value (February 2023 to February 2024): $210,861
Livability score (out of 100): 74
Median household income: $71,293
Unemployment rate: 3.5%
17. Tyler, Texas
Average home value (February 2023 to February 2024): $243,231
Livability score (out of 100): 74
Median household income: $63,056
Unemployment rate: 3.9%
18. El Paso, Texas
Average home value (February 2023 to February 2024): $212,267
Livability score (out of 100): 81
Median household income: $55,710
Unemployment rate: 4.5%
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19. Abilene, Texas
Average home value (February 2023 to February 2024): $189,581
Livability score (out of 100): 75
Median household income: $59,254
Unemployment rate: 3.6%
20. Oklahoma City
Average home value (February 2023 to February 2024): $197,113
Livability score (out of 100): 81
Median household income: $64,251
Unemployment rate: 3.4%
21. Newport News, Virginia
Average home value (February 2023 to February 2024): $267,317
Livability score (out of 100): 76
Median household income: $63,355
Unemployment rate: 2.9%
22. Columbus, Ohio
Average home value (February 2023 to February 2024): $244,947
Livability score (out of 100): 81
Median household income: $62,994
Unemployment rate: 3.6%
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23. Grand Rapids, Michigan
Average home value (February 2023 to February 2024): $255,480
Livability score (out of 100): 83
Median household income: $61,634
Unemployment rate: 3%
24. Saint Paul, Minnesota
Average home value (February 2023 to February 2024): $280,710
Livability score (out of 100): 81
Median household income: $69,919
Unemployment rate: 3%
25. Columbia, Missouri
Average home value (February 2023 to February 2024): $288,796
Livability score (out of 100): 82
Median household income: $60,455
Unemployment rate: 3%
26. Greensboro, North Carolina
Average home value (February 2023 to February 2024): $250,830
Livability score (out of 100): 83
Median household income: $55,051
Unemployment rate: 4.1%
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27. Corpus Christi, Texas
Average home value (February 2023 to February 2024): $215,070
Livability score (out of 100): 80
Median household income: $64,449
Unemployment rate: 4.5%
28. Pittsburgh
Average home value (February 2023 to February 2024): $216,145
Livability score (out of 100): 84
Median household income: $60,187
Unemployment rate: 3.5%
29. Warren, Michigan
Average home value (February 2023 to February 2024): $187,999
Livability score (out of 100): 74
Median household income: $61,633
Unemployment rate: 3.9%
30. Laredo, Texas
Average home value (February 2023 to February 2024): $210,571
Livability score (out of 100): 73
Median household income: $60,928
Unemployment rate: 4.3%
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31. Norfolk, Virginia
Average home value (February 2023 to February 2024): $279,510
Livability score (out of 100): 81
Median household income: $60,998
Unemployment rate: 2.9%
32. Tallahassee, Florida
Average home value (February 2023 to February 2024): $284,541
Livability score (out of 100): 85
Median household income: $52,899
Unemployment rate: 3.3%
33. Indianapolis
Average home value (February 2023 to February 2024): $219,987
Livability score (out of 100): 76
Median household income: $59,110
Unemployment rate: 3.4%
34. Amarillo, Texas
Average home value (February 2023 to February 2024): $191,950
Livability score (out of 100): 66
Median household income: $60,628
Unemployment rate: 3.1%
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35. McAllen, Texas
Average home value (February 2023 to February 2024): $214,677
Livability score (out of 100): 75
Median household income: $56,326
Unemployment rate: 6.4%
36. Augusta, Georgia
Average home value (February 2023 to February 2024): $166,120
Livability score (out of 100): 64
Median household income: $50,492
Unemployment rate: 3.7%
37. Erie, Pennsylvania
Average home value (February 2023 to February 2024): $159,510
Livability score (out of 100): 82
Median household income: $43,135
Unemployment rate: 4%
38. Chicago
Average home value (February 2023 to February 2024): $285,865
Livability score (out of 100): 78
Median household income: $71,673
Unemployment rate: 4.8%
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39. Mesquite, Texas
Average home value (February 2023 to February 2024): $271,419
Livability score (out of 100): 69
Median household income: $69,649
Unemployment rate: 3.9%
40. Killeen, Texas
Average home value (February 2023 to February 2024): $224,573
Livability score (out of 100): 63
Median household income: $57,086
Unemployment rate: 4.5%
41. Harrisburg, Pennsylvania
Average home value (February 2023 to February 2024): $228,827
Livability score (out of 100): 85
Median household income: $46,654
Unemployment rate: 2.9%
42. Akron, Ohio
Average home value (February 2023 to February 2024): $115,840
Livability score (out of 100): 81
Median household income: $46,596
Unemployment rate: 4.3%
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43. Lubbock, Texas
Average home value (February 2023 to February 2024): $205,783
Livability score (out of 100): 78
Median household income: $58,734
Unemployment rate: 3.4%
44. Ocala, Florida
Average home value (February 2023 to February 2024): $273,458
Livability score (out of 100): 71
Median household income: $50,618
Unemployment rate: 4.2%
45. San Antonio
Average home value (February 2023 to February 2024): $259,225
Livability score (out of 100): 80
Median household income: $59,593
Unemployment rate: 3.8%
46. Allentown, Pennsylvania
Average home value (February 2023 to February 2024): $263,393
Livability score (out of 100): 78
Median household income: $52,449
Unemployment rate: 3.9%
47. Wichita, Kansas
Average home value (February 2023 to February 2024): $183,693
Livability score (out of 100): 68
Median household income: $60,712
Unemployment rate: 3.2%
48. Columbia, South Carolina
Average home value (February 2023 to February 2024): $223,872
Livability score (out of 100): 79
Median household income: $54,095
Unemployment rate: 3.2%
49. Kansas City, Missouri
Average home value (February 2023 to February 2024): $225,136
Livability score (out of 100): 78
Median household income: $65,256
Unemployment rate: 3.3%
50. Roanoke, Virginia
Average home value (February 2023 to February 2024): $245,338
Livability score (out of 100): 74
Median household income: $51,523
Unemployment rate: 2.7%
Methodology: To find the 50 best places to buy a home for under $300,000, GOBankingRates looked at the 100 most populous cities where home values from February 2023 to February 2024 did not go above $300,000 and had an average during that same period below $300,000, according to Zillow’s February 2024 data. Once these 100 cities were identified, GOBankingRates looked at the following factors: (1) median household income, as sourced from the United States Census Bureau’s 2022 American Community Survey; (2) an overall livability score out of 100, sourced from AreaVibes; (3) violent crime rate per 1,000 residents and (4) property crime rate per 1,000 residents, both sourced from Neighborhood Scout; (5) Metropolitan Statistical Area unemployment rate, sourced from the Bureau of Labor Statistics’ preliminary data for January 2024; (6) percent of population living below the poverty line, sourced from the United States Census Bureau’s 2022 American Community Survey; and (7) an annual cost of living expenditures estimate (groceries, healthcare, utilities and transportation), based on the Bureau of Labor Statistics’ 2022 Consumer Expenditure Survey and local cost of living indices sourced from Sperling’s Best Places. All factors were then scored and combined, with the lower score being best, and then ranked to give the final placements. All data was collected on and is up to date as of March 28, 2024.
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This article originally appeared on GOBankingRates.com: The 50 Best Places To Buy a Home for Under $300,000
