Housing Market 2024: 50 Most Affordable Cities for Homebuyers
The average home price in the U.S. is now $347,442, but there are still many major cities where the cost of living is decent and you can find homes for less.
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To find the 50 most affordable cities for homebuyers, GOBankingRates looked at the 200 largest housing markets and found the cities with the greatest difference between the national average home price and city-level home prices. Home prices had to be above $100,000 for the city to qualify.
Here’s a look at the affordable cities that made the cut.
1. Toledo, Ohio
Average home value: $111,704
Difference from national average ($): -$235,738
Difference from national average (%): 67.85%
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2. Birmingham, Alabama
Average home value: $120,106
Difference from national average ($): -$227,336
Difference from national average (%): 65.43%
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3. Akron, Ohio
Average home value: $120,422
Difference from national average ($): -$227,019
Difference from national average (%): 65.34%
4. Shreveport, Louisiana
Average home value: $129,635
Difference from national average ($): -$217,807
Difference from national average (%): 62.69%
5. Dayton, Ohio
Average home value: $134,238
Difference from national average ($): -$213,204
Difference from national average (%): 61.36%
6. Montgomery, Alabama
Average home value: $137,928
Difference from national average ($): -$209,514
Difference from national average (%): 60.30%
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7. Rockford, Illinois
Average home value: $142,218
Difference from national average ($): -$205,223
Difference from national average (%): 59.07%
8. Memphis, Tennessee
Average home value: $142,858
Difference from national average ($): -$204,584
Difference from national average (%): 58.88%
9. Columbus, Georgia
Average home value: $156,385
Difference from national average ($): -$191,057
Difference from national average (%): 54.99%
10. Erie, Pennsylvania
Average home value: $165,731
Difference from national average ($): -$181,711
Difference from national average (%): 52.30%
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11. St. Louis
Average home value: $166,639
Difference from national average ($): -$180,802
Difference from national average (%): 52.04%
12. Syracuse, New York
Average home value: $172,364
Difference from national average ($): -$175,078
Difference from national average (%): 50.39%
13. Baltimore
Average home value: $175,763
Difference from national average ($): -$171,679
Difference from national average (%): 49.41%
14. Evansville, Indiana
Average home value: $180,121
Difference from national average ($): -$167,321
Difference from national average (%): 48.16%
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15. Brownsville, Texas
Average home value: $180,961
Difference from national average ($): -$166,481
Difference from national average (%): 47.92%
16. Mobile, Alabama
Average home value: $183,826
Difference from national average ($): -$163,616
Difference from national average (%): 47.09%
17. Wichita, Kansas
Average home value: $186,772
Difference from national average ($): -$160,670
Difference from national average (%): 46.24%
18. Milwaukee
Average home value: $191,487
Difference from national average ($): -$155,955
Difference from national average (%): 44.89%
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19. Des Moines, Iowa
Average home value: $193,394
Difference from national average ($): -$154,048
Difference from national average (%): 44.34%
20. Amarillo, Texas
Average home value: $194,550
Difference from national average ($): -$152,892
Difference from national average (%): 44.01%
21. Tulsa, Oklahoma
Average home value: $199,735
Difference from national average ($): -$147,706
Difference from national average (%): 42.51%
22. Oklahoma City
Average home value: $200,917
Difference from national average ($): -$146,525
Difference from national average (%): 42.17%
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23. Rochester, New York
Average home value: $204,149
Difference from national average ($): -$143,292
Difference from national average (%): 41.24%
24. Lubbock, Texas
Average home value: $204,585
Difference from national average ($): -$142,857
Difference from national average (%): 41.12%
25. Little Rock, Arkansas
Average home value: $205,626
Difference from national average ($): -$141,816
Difference from national average (%): 40.82%
26. Laredo, Texas
Average home value: $206,379
Difference from national average ($): -$141,063
Difference from national average (%): 40.60%
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27. Fayetteville, North Carolina
Average home value: $208,202
Difference from national average ($): -$139,239
Difference from national average (%): 40.08%
28. Philadelphia
Average home value: $209,615
Difference from national average ($): -$137,827
Difference from national average (%): 39.67%
29. Buffalo, New York
Average home value: $211,629
Difference from national average ($): -$135,813
Difference from national average (%): 39.09%
30. Corpus Christi, Texas
Average home value: $214,407
Difference from national average ($): -$133,035
Difference from national average (%): 38.29%
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31. El Paso, Texas
Average home value: $217,115
Difference from national average ($): -$130,327
Difference from national average (%): 37.51%
32. Fort Wayne, Indiana
Average home value: $219,713
Difference from national average ($): -$127,728
Difference from national average (%): 36.76%
33. Indianapolis
Average home value: $221,203
Difference from national average ($): -$126,239
Difference from national average (%): 36.33%
34. Pittsburgh
Average home value: $221,713
Difference from national average ($): -$125,729
Difference from national average (%): 36.19%
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35. Baton Rouge, Louisiana
Average home value: $221,946
Difference from national average ($): -$125,495
Difference from national average (%): 36.12%
36. Killeen, Texas
Average home value: $223,307
Difference from national average ($): -$124,135
Difference from national average (%): 35.73%
37. Springfield, Missouri
Average home value: $223,542
Difference from national average ($): -$123,900
Difference from national average (%): 35.66%
38. Columbia, South Carolina
Average home value: $228,281
Difference from national average ($): -$119,161
Difference from national average (%): 34.30%
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39. Cincinnati
Average home value: $230,372
Difference from national average ($): -$117,070
Difference from national average (%): 33.69%
40. Kansas City, Missouri
Average home value: $231,413
Difference from national average ($): -$116,028
Difference from national average (%): 33.40%
41. Reading, Pennsylvania
Average home value: $235,757
Difference from national average ($): -$111,685
Difference from national average (%): 32.14%
42. New Orleans
Average home value: $236,243
Difference from national average ($): -$111,199
Difference from national average (%): 32.01%
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43. Louisville, Kentucky
Average home value: $238,487
Difference from national average ($): -$108,955
Difference from national average (%): 31.36%
44. York, Pennsylvania
Average home value: $249,583
Difference from national average ($): -$97,859
Difference from national average (%): 28.17%
45. Winston-Salem, North Carolina
Average home value: $249,988
Difference from national average ($): -$97,453
Difference from national average (%): 28.05%
46. Columbus, Ohio
Average home value: $251,660
Difference from national average ($): -$95,782
Difference from national average (%): 27.57%
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47. Pensacola, Florida
Average home value: $253,524
Difference from national average ($): -$93,918
Difference from national average (%): 27.03%
48. San Antonio
Average home value: $255,223
Difference from national average ($): -$92,219
Difference from national average (%): 26.54%
49. Greensboro, North Carolina
Average home value: $256,284
Difference from national average ($): -$91,158
Difference from national average (%): 26.24%
50. Grand Rapids, Michigan
Average home value: $263,538
Difference from national average ($): -$83,904
Difference from national average (%): 24.15%
Methodology: For this piece, GOBankingRates looked at the 200 largest housing markets, according to Zillow, and found the 50 cities where there was the greatest difference between national average home prices and city-level home prices. All data was collected and is up-to-date as of April 10, 2024. Home prices had to be above $100,000 for the city to qualify.
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This article originally appeared on GOBankingRates.com: Housing Market 2024: 50 Most Affordable Cities for Homebuyers
