The Least Expensive Zip Codes In America

The 61401 ZIP code, which includes the city of Galesburg, Illinois, has some of the least expensive housing in the United States. The typical area home that sold in 2020 went for just $68,000. The area’s home prices are among the lowest in the country likely due in part to reduced demand, precipitated by population decline. Over the last five years, the number of people living in the area contracted by 4.9%.

Like many areas with multi-year population decline and low home values, the 61401 postal code has had little in the way of new residential construction in the last several decades. About 71% of area homes were built before 1970, and less than 4% of homes were built since 2000. Nationwide, only 38.4% of housing units were built before 1970 and 19.1% have gone up since 2000.

The 48089 ZIP code in Warren, Michigan, is one of several parts of the Detroit metro area with some of the lowest home values in the country. In the 48089 ZIP, the median home sale price in 2020 was just $68,000.

Many parts of the country with low home values are in areas where demand for housing has not climbed much in recent decades and development has stalled. In Michigan’s 48089 ZIP code, 76.4% of homes were built before 1970, and less than 3% of homes were built since 2000. Nationwide, only 38.4% of housing units were built before 1970, and 19.1% have gone up since 2000.

Philadelphia’s 19134 ZIP code, located across the Delaware River from East Camden, New Jersey, has some of the least expensive housing in the United States. A total of 920 area homes were bought and sold in 2020, and the median sale price was just $65,000.

Parts of the country with low home values are often home to relatively large populations that are struggling financially, and the 19134 ZIP code is one of the poorest in the U.S. Nearly 40% of the population live below the poverty line, and 18.2% earn $10,000 or less a year. Nationwide, 13.4% of the population live below the poverty line, and 6% of households earn less than $10,000 annually.

The 47374 ZIP code covers the city of Richmond in eastern Indiana along the Ohio border. There were 684 home sales in the area in 2020 and the median sales price was just $62,330.

Low home prices make the area one of the most affordable in the country. The typical home sale price in the 47374 ZIP code is just 1.4 times higher than the median household income in the area of $44,085. Nationwide, the median home sale price is 4.2 times higher than the median income of $62,843.

The 43211 postal code, which covers parts of Columbus, Ohio, is one of only 16 ZIP codes in the U.S. where most homes sold in 2020 went for less than $60,000. The median price of the nearly 600 housing units sold in the area last year was just $58,500.

Parts of the country with low home values are often home to relatively large populations that are struggling financially — and the 43211 ZIP code is one of the poorest places in the country. About 40% of local residents live below the poverty line, and 17.1% of households earn $10,000 or less a year. For context, 13.4% of the U.S. population live below the poverty line, and 6.0% of all American households earn less than $10,000 annually.