In this piece, we will take a look at the five most underpriced housing markets in the U.S. For more markets, head on over to 20 Most Underpriced Housing Markets in the U.S.
5. Iowa
Median Home Price: $161,700
Iowa is a midsized state with a population of just over three million people. It joined the Union in 1846 and the state often ranks low in lists of states with the cost of doing business. Iowa has a diversified manufacturing industry, with some of the largest consumer products, household appliances, industrial, and agricultural equipment manufacturing companies having their operations in the state. At the same time, Iowa also has large food and health insurance companies, and a strong agricultural economy as well.
4. Oklahoma
Median Home Price: $146,600
Oklahoma is a Southern American state that existed as an Indian territory before becoming one of the last ones to join the Union in the early twentieth century.
3. Arkansas
Median Home Price: $145,300
Arkansas is a Southern American state that joined the Union in 1836. It is a midsized state in terms of both area and population. The Arkansas economy is dominated by retailing, with the world’s largest retailer by both stores and employees Walmart being headquartered in the area. Arkansas also has some of the lowest costs of doing business in America, and the state is also known for having a large number of parks.
2. Mississippi
Median Home Price: $141,900
Mississippi is historically known as being one of the largest cotton producing areas in America. It was admitted to the Union in 1817 and the state is one of the least developed areas in America in terms of education and health. This also makes Mississippi one of the smallest state economies in America. Much of Mississippi’s woes are traced to the Civil War. Before the war, it was one of the most prosperous regions in America, but ended up lagging behind in development in the post war era – after it incurred significant financial and manpower losses in the conflict.
1. West Virginia
Median Home Price: $114,600
West Virginia is another Southern American state. It is one of the smallest and least populated areas in America. West Virginia has a population of a little under two million people and it covers an area of 24,230 square miles. West Virginia was also one of the first Southern states to ratify the 13th Amendment that abolished slavery in America. Tourism plays a central role in the state’s economy as it benefits from its vast landscape full of mountains and rock climbing destinations.
Disclosure: None. You can also take a look at 25 Most Diverse Cities in the U.S. to Retire In and 30 Countries with the Highest GDP in 2022.
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