Special Report

The County With the Least Expensive Housing Market in Every State

Steven Peters

Published: March 24, 2017 6:00 am

Last Updated: August 10, 2020 8:56 pm

Purchasing a home is widely considered one of life’s milestones. While home prices have risen faster than incomes in recent years, prospective buyers willing to relocate — even within their state — can still find very affordable options.

To identify the county with the least expensive housing market in every state, 24/7 Wall St. reviewed median home prices as of the fourth quarter of 2016 from the National Association of Realtors. Nationwide, the typical home costs $235,000. Cochran County, Texas has the cheapest housing market of the 3,119 counties measured. The typical home there sells for only $36,803.

Broadly speaking, counties in Southern and Midwestern states tend to have cheaper housing markets than those in Western and Northeastern states. In fact, of the 100 counties with the cheapest housing markets nationwide, 98 are located in the South or Midwest.

Click here to see the county with the least expensive housing market in every state.

Home values are in part determined by the desirability of the housing market, and low prices are often a sign that few people want to live in these areas. The cheapest markets tend to be far from large metropolitan areas, where housing demand is higher.

In all 50 counties — each with the cheapest housing market in its respective state — the typical household earns less than the statewide median income. However, because homes are so cheap in these areas, they are surprisingly affordable.

Once households have saved enough for a down payment in these counties, they generally need strikingly low incomes to qualify for a home loan. Assuming a 10% down payment, in 20 of these counties, an individual earning the federal minimum wage of $7.25 an hour would make enough working full-time to qualify for a mortgage on the area’s typical home. In seven of the counties on this list, the typical home is so cheap that even a person living below the poverty line could qualify for a home loan.

Because homes are so affordable in these areas, homeownership rates in the large majority of counties on this list are higher compared to the respective states.

To determine the county with the least expensive housing market in every state, 24/7 Wall St. reviewed median home prices in the 3,199 county and county-equivalents as aggregated by the National Association of Realtors for the fourth quarter of 2016. Monthly payments and qualifying income with a 10% down payment for the median home price for the same time period were calculated using the NAR’s methodology and assume a fixed 30-year mortgage with a 4.0% interest rate. Median household incomes for each county come from the U.S. Census Bureau’s 2015 American Consumer Survey.

This is the county with the least expensive housing market in every state.

Source: Billy Milstead / Wikimedia Commons

1. Alabama
> County: Choctaw
> Median sale: $64,405
> Median household income: $33,536
> Qualifying income w. 10% down: $13,283
> Monthly payment: $277

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Source: Thinkstock

2. Alaska
> County: Yukon-Koyukuk
> Median sale: $97,576
> Median household income: $38,491
> Qualifying income w. 10% down: $20,124
> Monthly payment: $419

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Source: Thinkstock

3. Arizona
> County: Apache
> Median sale: $62,421
> Median household income: $31,757
> Qualifying income w. 10% down: $12,874
> Monthly payment: $268

Source: Thinkstock

4. Arkansas
> County: Monroe
> Median sale: $58,180
> Median household income: $27,647
> Qualifying income w. 10% down: $11,999
> Monthly payment: $250

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Source: https://www.flickr.com/photos/californiadfg/

5. California
> County: Lake
> Median sale: $183,649
> Median household income: $35,578
> Qualifying income w. 10% down: $37,876
> Monthly payment: $789

Source: Wikimedia Commons

6. Colorado
> County: Bent
> Median sale: $76,997
> Median household income: $36,791
> Qualifying income w. 10% down: $15,880
> Monthly payment: $331

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Source: JJBers / Wikimedia Commons

7. Connecticut
> County: Windham
> Median sale: $202,246
> Median household income: $59,392
> Qualifying income w. 10% down: $41,712
> Monthly payment: $869

Source: JERRYE and ROY KLOTZ MD / Wikimedia Commons

8. Delaware
> County: Kent
> Median sale: $225,432
> Median household income: $54,976
> Qualifying income w. 10% down: $46,494
> Monthly payment: $969

Source: Wikimedia Commons

9. Florida
> County: Hamilton
> Median sale: $83,699
> Median household income: $35,048
> Qualifying income w. 10% down: $17,262
> Monthly payment: $360

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Source: Rivers Langley; SaveRivers / Wikimedia Commons

10. Georgia
> County: Webster
> Median sale: $51,118
> Median household income: $37,063
> Qualifying income w. 10% down: $10,543
> Monthly payment: $220

Source: https://www.flickr.com/photos/kenlund/

11. Hawaii
> County: Hawaii
> Median sale: $343,589
> Median household income: $52,108
> Qualifying income w. 10% down: $70,863
> Monthly payment: $1,476

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Source: Wikimedia Commons

12. Idaho
> County: Clark
> Median sale: $113,200
> Median household income: $33,672
> Qualifying income w. 10% down: $23,347
> Monthly payment: $486

Source: Wikimedia Commons

13. Illinois
> County: Alexander
> Median sale: $53,254
> Median household income: $27,265
> Qualifying income w. 10% down: $10,983
> Monthly payment: $229

Source: Wikimedia Commons

14. Indiana
> County: Blackford
> Median sale: $74,260
> Median household income: $38,190
> Qualifying income w. 10% down: $15,316
> Monthly payment: $319

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Source: Courtesy of USDA

15. Iowa
> County: Pocahontas
> Median sale: $71,350
> Median household income: $45,069
> Qualifying income w. 10% down: $14,715
> Monthly payment: $307

Source: Thinkstock

16. Kansas
> County: Woodson
> Median sale: $52,950
> Median household income: $35,787
> Qualifying income w. 10% down: $10,921
> Monthly payment: $228

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Source: W.marsh / Wikimedia Commons

17. Kentucky
> County: Leslie
> Median sale: $48,314
> Median household income: $25,872
> Qualifying income w. 10% down: $9,964
> Monthly payment: $208

Source: Billy Hathorn / Wikimedia Commons

18. Louisiana
> County: East Carroll
> Median sale: $54,917
> Median household income: $21,099
> Qualifying income w. 10% down: $11,326
> Monthly payment: $236

Source: Wikimedia Commons

19. Maine
> County: Aroostook
> Median sale: $109,526
> Median household income: $36,923
> Qualifying income w. 10% down: $22,589
> Monthly payment: $471

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Source: Acroterion / Wikimedia Commons

20. Maryland
> County: Allegany
> Median sale: $118,467
> Median household income: $40,551
> Qualifying income w. 10% down: $24,433
> Monthly payment: $509

Source: Wikimedia Commons

21. Massachusetts
> County: Hampden
> Median sale: $204,176
> Median household income: $50,461
> Qualifying income w. 10% down: $42,110
> Monthly payment: $877

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Source: Stratosphere / Wikimedia Commons

22. Michigan
> County: Gogebic
> Median sale: $77,727
> Median household income: $35,686
> Qualifying income w. 10% down: $16,031
> Monthly payment: $334

Source: Wikimedia Commons

23. Minnesota
> County: Traverse
> Median sale: $78,355
> Median household income: $49,186
> Qualifying income w. 10% down: $16,160
> Monthly payment: $337

Source: Wikimedia Commons

24. Mississippi
> County: Holmes
> Median sale: $55,757
> Median household income: $20,732
> Qualifying income w. 10% down: $11,500
> Monthly payment: $240

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Source: Patrick Hull / Wikimedia Commons

25. Missouri
> County: Worth
> Median sale: $62,624
> Median household income: $45,952
> Qualifying income w. 10% down: $12,916
> Monthly payment: $269

Source: JERRYE AND ROY KLOTZ MD / Wikimedia Commons

26. Montana
> County: Petroleum
> Median sale: $91,112
> Median household income: $43,750
> Qualifying income w. 10% down: $18,791
> Monthly payment: $391

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Source: Wikimedia Commons

27. Nebraska
> County: Grant
> Median sale: $58,432
> Median household income: $44,750
> Qualifying income w. 10% down: $12,051
> Monthly payment: $251

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Source: FloNight (Sydney Poore) and Russell Poore / Wikimedia Commons

28. Nevada
> County: Esmeralda
> Median sale: $103,870
> Median household income: $39,271
> Qualifying income w. 10% down: $21,423
> Monthly payment: $446

Source: AlexiusHoratius / Wikimedia Commons

29. New Hampshire
> County: Coos
> Median sale: $133,598
> Median household income: $42,312
> Qualifying income w. 10% down: $27,554
> Monthly payment: $574

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Source: Wikimedia Commons

30. New Jersey
> County: Cumberland
> Median sale: $161,937
> Median household income: $49,984
> Qualifying income w. 10% down: $33,398
> Monthly payment: $696

Source: https://www.flickr.com/photos/wolfgangstaudt/

31. New Mexico
> County: McKinley
> Median sale: $57,311
> Median household income: $28,772
> Qualifying income w. 10% down: $11,820
> Monthly payment: $246

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Source: Eyesofibad / Wikimedia Commons

32. New York
> County: Allegany
> Median sale: $73,644
> Median household income: $42,776
> Qualifying income w. 10% down: $15,189
> Monthly payment: $316

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Source: Wikimedia Commons

33. North Carolina
> County: Robeson
> Median sale: $81,975
> Median household income: $30,608
> Qualifying income w. 10% down: $16,907
> Monthly payment: $352

Source: Andrew Filer / Wikimedia Commons

34. North Dakota
> County: McIntosh
> Median sale: $70,383
> Median household income: $42,277
> Qualifying income w. 10% down: $14,516
> Monthly payment: $302

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Source: Wikimedia Commons

35. Ohio
> County: Vinton
> Median sale: $88,385
> Median household income: $40,680
> Qualifying income w. 10% down: $18,229
> Monthly payment: $380

Source: Wikimedia Commons

36. Oklahoma
> County: Harmon
> Median sale: $54,953
> Median household income: $31,250
> Qualifying income w. 10% down: $11,334
> Monthly payment: $236

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Source: https://www.flickr.com/photos/kenlund/2580127305

37. Oregon
> County: Harney
> Median sale: $121,383
> Median household income: $37,580
> Qualifying income w. 10% down: $25,034
> Monthly payment: $522

Source: Nicholas T / Wikimedia Commons

38. Pennsylvania
> County: Cameron
> Median sale: $74,965
> Median household income: $39,897
> Qualifying income w. 10% down: $15,461
> Monthly payment: $322

Source: Wikimedia Commons

39. Rhode Island
> County: Providence
> Median sale: $227,317
> Median household income: $49,743
> Qualifying income w. 10% down: $46,883
> Monthly payment: $977

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Source: Upstateherd / Wikimedia Commons

40. South Carolina
> County: Allendale
> Median sale: $60,150
> Median household income: $25,327
> Qualifying income w. 10% down: $12,406
> Monthly payment: $258

Source: Ammodramus / Wikimedia Commons

41. South Dakota
> County: Todd
> Median sale: $49,754
> Median household income: $31,128
> Qualifying income w. 10% down: $10,261
> Monthly payment: $214

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Source: Wikimedia Commons

42. Tennessee
> County: Lake
> Median sale: $78,536
> Median household income: $30,086
> Qualifying income w. 10% down: $16,198
> Monthly payment: $337

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Source: Wikimedia Commons

43. Texas
> County: Cochran
> Median sale: $36,803
> Median household income: $39,113
> Qualifying income w. 10% down: $7,590
> Monthly payment: $158

Source: Tricia Simpson / Wikimedia Commons

44. Utah
> County: Carbon
> Median sale: $146,141
> Median household income: $46,900
> Qualifying income w. 10% down: $30,141
> Monthly payment: $628

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Source: https://www.flickr.com/photos/mar_ibert/

45. Vermont
> County: Essex
> Median sale: $123,992
> Median household income: $36,599
> Qualifying income w. 10% down: $25,573
> Monthly payment: $533

Source: Jarek Tuszyński / Wikimedia Commons

46. Virginia
> County: Covington
> Median sale: $72,187
> Median household income: $34,746
> Qualifying income w. 10% down: $14,888
> Monthly payment: $310

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Source: Joe Mabel / Wikimedia Commons

47. Washington
> County: Adams
> Median sale: $162,211
> Median household income: $46,564
> Qualifying income w. 10% down: $33,455
> Monthly payment: $697

Source: Magnolia677 / Wikimedia Commons

48. West Virginia
> County: McDowell
> Median sale: $37,104
> Median household income: $24,921
> Qualifying income w. 10% down: $7,652
> Monthly payment: $159

Source: Royalbroil / Wikimedia Commons

49. Wisconsin
> County: Menominee
> Median sale: $89,969
> Median household income: $35,343
> Qualifying income w. 10% down: $18,556
> Monthly payment: $387

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Source: Wikimedia Commons

50. Wyoming
> County: Big Horn
> Median sale: $153,631
> Median household income: $51,679
> Qualifying income w. 10% down: $31,685
> Monthly payment: $660