50 Cheapest Places to Buy a House in Every State

Published on December 20, 2023 at 5:56 pm by Zarah Hamid in Business, Lists, News

In this article, we will be covering the 50 cheapest places to buy a house in every state. If you wish to skip our detailed analysis, you can move directly to the 10 Cheapest Places to Buy a House in Every State.

Housing Dynamics in the US

The US housing market has long been subject to a rigid crisis where the supply of houses has been unable to cater to the growing demand. Other than a persistent housing shortage, high mortgage rates have restricted potential home buyers from investing in homes for which median prices have been on the rise.

However, an increasing housing supply has been witnessed in the market. A further increase has also been predicted as long-term interest rates fall. On December 20, Reuters reported that single-family housing starts jumped 18.0% to a seasonally adjusted annual rate of 1.143 million units in November. Single-family homebuilding went up, especially in the Northeast, Midwest, and the densely populated South. Permits for future construction of single-family housing increased to the highest level in November 2023, since May 2022. This new construction had previously been opposed by rising mortgage rates.

Leading Homebuilders in the US

Amid a crisis in the US housing industry, numerous homebuilders continue to offer reasonable living options across the country. Some of these include LGI Homes, Inc. (NASDAQ:LGIH), Beazer Homes USA, Inc. (NYSE:BZH), and KB Home (NYSE:KBH). Let’s take a look at what these firms have been up to.

LGI Homes, Inc. (NASDAQ:LGIH) is a leading American home construction company that operates across 36 markets in 21 states. The company has closed more than 65,000 homes up till now. On December 14, LGI Homes, Inc. (NASDAQ:LGIH) reported the opening of two new communities in the Houston market. Emberly in Beasley is the first community that allows a convenient commute to Houston’s top employers and nationally recognized medical facilities. New homes at Emberly start in the $290,000s. Wayside Village is the second community which is situated in northeast Houston and is close to downtown Houston. New homes at Wayside Village start in the $220,000s.

Beazer Homes USA, Inc. (NYSE:BZH) is another popular home construction company in the US. On November 16, Beazer Homes USA, Inc. (NYSE:BZH) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $1.80 and outperformed EPS estimates by $0.41. The company’s revenue for the quarter amounted to $645.41 million and beat revenue estimates by $18.11 million. As of December 20, Beazer Homes USA, Inc. (NYSE:BZH) has returned over 153% to investors on a year-to-date basis.

KB Home (NYSE:KBH) is one of the largest homebuilders in the United States. The company has built over 670,000 quality homes. It focuses on fostering interpersonal relationships with its customers by building homes unique to each customer based on their budget. On December 8, KB Home (NYSE:KBH) reported the grand opening of its community within the popular Twelve Bridges master plan in Lincoln, California. Family-friendly amenities such as parks, picnic areas, sports fields, and open space will be available to the residents. The new community Aurora at Twelve Bridges has new homes with prices starting in the mid $400,000s. The greater Sacramento area’s major employment centers and downtown Lincoln can be conveniently accessed.

You can also look at some of the best housing stocks to buy. Now that we have taken a look at the housing market in the US, let’s move to the 50 cheapest places to buy a house in every state.

50 Cheapest Places to Buy a House in Every State

Our Methodology:

In order to compile a list of the 50 cheapest places to buy a house in every state, we sourced data from Zillow, a leading real estate source. The latest available data is as of November 2023. The results were screened by metro. Filters were applied to find the most cheap place for every state. Hence, the results included the cheapest metro areas in every state.

Moving on, we sorted all the states and their respective cheap place to buy a house based on the median list price. The 50 cheapest places to buy a house in every state have been ranked in descending order of their median list price.

50 Cheapest Places to Buy a House in Every State

50. Hilo, Hawaii

Median List Price: $646,925

Hilo is the cheapest place to buy a house in Hawaii since its median list price of $646,925 is the lowest in the state.

49. Providence-Warwick, Rhode Island

Median List Price: $526,750

Providence-Warwick is the cheapest place to buy a house in Rhode Island since its median list price of $526,750 is the lowest in the state.

48. Dover, Delaware

Median List Price: $415,000

Dover is the cheapest place to buy a house in Delaware since its median list price of $415,000 is the lowest in the state.

47. Hartford-West Hartford et al, Connecticut

Median List Price: $398,450

Hartford-West Hartford et al is the cheapest place to buy a house in Connecticut since its median list price of $398,450 is the lowest in the state.

46. Winnemucca, Nevada

Median List Price: $383,725

Winnemucca is the cheapest place to buy a house in Nevada since its median list price of $383,725 is the lowest in the state.

45. Othello, Washington

Median List Price: $362,500

Othello is the cheapest place to buy a house in Washington since its median list price of $362,500 is the lowest in the state.

44. Barre, Vermont

Median List Price: $357,200

Barre is the cheapest place to buy a house in Vermont since its median list price of $357,200 is the lowest in the state.

43. Price, Utah

Median List Price: $352,500

Price is the cheapest place to buy a house in Utah since its median list price of $352,500 is the lowest in the state.

42. Springfield, Massachusetts

Median List Price: $350,000

Springfield is the cheapest place to buy a house in Massachusetts since its median list price of $350,000 is the lowest in the state.

41. Mountain Home, Idaho

Median List Price: $348,675

Mountain Home is the cheapest place to buy a house in Idaho since its median list price of $348,675 is the lowest in the state.

40. Berlin, New Hampshire

Median List Price: $327,475

Berlin is the cheapest place to buy a house in New Hampshire since its median list price of $327,475 is the lowest in the state.

39. Sierra Vista-Douglas, Arizona

Median List Price: $327,000

Sierra Vista-Douglas is the cheapest place to buy a house in Arizona since its median list price of $327,000 is the lowest in the state.

38. Butte-Silver Bow, Montana

Median List Price: $324,250

Butte-Silver Bow is the cheapest place to buy a house in Montana since its median list price of $324,250 is the lowest in the state.

37. La Grande, Oregon

Median List Price: $323,875

La Grande is the cheapest place to buy a house in Oregon since its median list price of $323,875 is the lowest in the state.

36. Fairbanks North Star Borough, Alaska

Median List Price: $312,400

Fairbanks North Star Borough is the cheapest place to buy a house in Alaska since its median list price of $312,400 is the lowest in the state.

35. Susanville, California

Median List Price: $310,000

Susanville is the cheapest place to buy a house in California since its median list price of $310,000 is the lowest in the state.

34. Sterling, Colorado

Median List Price: $302,475

Sterling is the cheapest place to buy a house in Colorado since its median list price of $302,475 is the lowest in the state.

33. Palatka, Florida

Median List Price: $299,975

Palatka is the cheapest place to buy a house in Florida since its median list price of $299,975 is the lowest in the state.

32. Rock Springs, Wyoming

Median List Price: $296,000

Rock Springs is the cheapest place to buy a house in Wyoming since its median list price of $296,000 is the lowest in the state.

31. Bangor, Maine

Median List Price: $293,950

Bangor is the cheapest place to buy a house in Maine since its median list price of $293,950 is the lowest in the state.

30. Vineland-Bridgeton, New Jersey

Median List Price: $254,975

Vineland-Bridgeton is the cheapest place to buy a house in New Jersey since its median list price of $254,975 is the lowest in the state.

29. Minot, North Dakota

Median List Price: $226,725

Minot is the cheapest place to buy a house in North Dakota since its median list price of $226,725 is the lowest in the state.

28. Marinette, Wisconsin

Median List Price: $225,450

Marinette is the cheapest place to buy a house in Wisconsin since its median list price of $225,450 is the lowest in the state.

27. North Platte, Nebraska

Median List Price: $219,000

North Platte is the cheapest place to buy a house in Nebraska since its median list price of $219,000 is the lowest in the state.

26. Austin, Minnesota

Median List Price: $210,000

Austin is the cheapest place to buy a house in Minnesota since its median list price of $210,000 is the lowest in the state.

25. Huron, South Dakota

Median List Price: $203,675

Huron is the cheapest place to buy a house in South Dakota since its median list price of $203,675 is the lowest in the state.

24. Dyersburg, Tennessee

Median List Price: $194,450

Dyersburg is the cheapest place to buy a house in Tennessee since its median list price of $194,450 is the lowest in the state.

23. Portales, New Mexico

Median List Price: $190,325

Portales is the cheapest place to buy a house in New Mexico since its median list price of $190,325 is the lowest in the state.

22. Fitzgerald, Georgia

Median List Price: $189,850

Fitzgerald is the cheapest place to buy a house in Georgia since its median list price of $189,850 is the lowest in the state.

21. Laurinburg, North Carolina

Median List Price: $188,725

Laurinburg is the cheapest place to buy a house in North Carolina since its median list price of $188,725 is the lowest in the state.

20. Morgan City, Louisiana

Median List Price: $187,750

Morgan City is the cheapest place to buy a house in Louisiana since its median list price of $187,750 is the lowest in the state.

19. Cumberland, Maryland

Median List Price: $159,900

Cumberland is the cheapest place to buy a house in Maryland since its median list price of $159,900 is the lowest in the state.

18. Middlesborough, Kentucky

Median List Price: $158,450

Middlesborough is the cheapest place to buy a house in Kentucky since its median list price of $158,450 is the lowest in the state.

17. Saginaw, Michigan

Median List Price: $152,450

Saginaw is the cheapest place to buy a house in Michigan since its median list price of $152,450 is the lowest in the state.

16. Weirton-Steubenville, Ohio

Median List Price: $149,950

Weirton-Steubenville is the cheapest place to buy a house in Ohio since its median list price of $149,950 is the lowest in the state.

15. Ogdensburg-Massena, New York

Median List Price: $149,950

Ogdensburg-Massena is the cheapest place to buy a house in New York since its median list price of $149,950 is the lowest in the state.

14. Charleston, West Virginia

Median List Price: $146,125

Charleston is the cheapest place to buy a house in West Virginia since its median list price of $146,125 is the lowest in the state.

13. Marshalltown, Iowa

Median List Price: $145,189

Marshalltown is the cheapest place to buy a house in Iowa since its median list price of $145,189 is the lowest in the state.

12. Bennettsville, South Carolina

Median List Price: $144,250

Bennettsville is the cheapest place to buy a house in South Carolina since its median list price of $144,250 is the lowest in the state.

11. Woodward, Oklahoma

Median List Price: $139,025

Woodward is the cheapest place to buy a house in Oklahoma since its median list price of $139,025 is the lowest in the state.

Click to continue reading and see 10 Cheapest Places to Buy a House in Every State.

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50 Cheapest Places to Buy a House in Every State

Published on December 20, 2023 at 5:56 pm by Zarah Hamid in Business, Lists, News

Housing Dynamics in the US

Leading Homebuilders in the US

50 Cheapest Places to Buy a House in Every State

50. Hilo, Hawaii

49. Providence-Warwick, Rhode Island

48. Dover, Delaware

47. Hartford-West Hartford et al, Connecticut

46. Winnemucca, Nevada

45. Othello, Washington

44. Barre, Vermont

43. Price, Utah

42. Springfield, Massachusetts

41. Mountain Home, Idaho

40. Berlin, New Hampshire

39. Sierra Vista-Douglas, Arizona

38. Butte-Silver Bow, Montana

37. La Grande, Oregon

36. Fairbanks North Star Borough, Alaska

35. Susanville, California

34. Sterling, Colorado

33. Palatka, Florida

32. Rock Springs, Wyoming

31. Bangor, Maine

30. Vineland-Bridgeton, New Jersey

29. Minot, North Dakota

28. Marinette, Wisconsin

27. North Platte, Nebraska

26. Austin, Minnesota

25. Huron, South Dakota

24. Dyersburg, Tennessee

23. Portales, New Mexico

22. Fitzgerald, Georgia

21. Laurinburg, North Carolina

20. Morgan City, Louisiana

19. Cumberland, Maryland

18. Middlesborough, Kentucky

17. Saginaw, Michigan

16. Weirton-Steubenville, Ohio

15. Ogdensburg-Massena, New York

14. Charleston, West Virginia

13. Marshalltown, Iowa

12. Bennettsville, South Carolina

11. Woodward, Oklahoma

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on May 1, 2024 at by Inan Dogan, PhD

A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff