Special Report

The Least Expensive Zip Code in Every State

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Nevada: ZIP 89103
> Location: Las Vegas
> Metro area: Las Vegas-Henderson-Paradise, NV
> Median home sales price: $199,000 (state: $307,000)
> Median household income: $42,537 (state: $60,365)
> Homes that are at least 50 years old: 4.6% (state: 10.9%)

The 89103 ZIP code in Las Vegas is the only postal code in Nevada where most homes sold in the last year went for less than $200,000. The postal code’s median home sale price of $199,000 is over $100,000 below the statewide median of $307,000.

Home values are often driven up by demand, and demand is driven by population growth. Between 2010 and 2019, however, the number of people living in the area climbed by just 6.4%, less than half the comparable 12.9% population growth statewide.

New Jersey: ZIP 08332
> Location: Millville
> Metro area: Vineland-Bridgeton, NJ
> Median home sales price: $124,750 (state: $330,000)
> Median household income: $57,265 (state: $82,545)
> Homes that are at least 50 years old: 49.8% (state: 53.7%)

New Jersey has some of the most expensive homes in the United States. More than 115,000 single-family homes were bought and sold in the Garden State in 2020, and most went for $330,000 or more — the eighth highest median sale price of any state. Still, some parts of New Jersey are more affordable for a broader range of budgets. For example, in the 08332 ZIP code, located on the southern end of the state, the median home sale price was just $124,750 — less than half the comparable median sale price nationwide.

Many parts of the country with lower than average home prices have undergone long-term population decline — and the 08331 ZIP code is no exception. Between 2010 and 2019, the number of people living in the area has fallen by 3.7% — even as New Jersey’s population expanded by 1.8%.

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New Mexico: ZIP 88310
> Location: Alamogordo
> Metro area: Alamogordo, NM
> Median home sales price: $169,097 (state: $237,585)
> Median household income: $43,307 (state: $49,754)
> Homes that are at least 50 years old: 33.5% (state: 28.1%)

The typical home in the 88310 ZIP code in southern New Mexico sold for just $169,097 in 2020 — less than every other ZIP code in the state and well below the statewide median home sale price of $237,585.

Because of low housing prices, the area is more affordable than much of the rest of the state. The median home price is worth just 3.9 times the local median household income of $43,754. Meanwhile, the statewide median home sale price is 4.8 times higher than the statewide median income of $49,754.

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New York: ZIP 14616
> Location: Rochester
> Metro area: Rochester, NY
> Median home sales price: $127,000 (state: $325,000)
> Median household income: $52,660 (state: $68,486)
> Homes that are at least 50 years old: 68.5% (state: 67.4%)

New York state has some of the most expensive real estate in the country — particularly in and around New York City. In other parts of the state, however, home prices are much lower. The typical home in the 14616 ZIP code in Rochester sold for just $127,000 in 2020, less than the median price in every other ZIP code in the state, and less than half the $325,000 statewide median sale price.

Low prices make the area far more affordable than they are on average nationwide. The local median home value is only 2.4 times greater than the median household income of $52,660. Across New York, the median home price is 4.7 times higher than the median household income of $68,486, and nationally, the median home price is 4.2 more than $62,843 median household income.

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North Carolina: ZIP 28052
> Location: Gastonia
> Metro area: Charlotte-Concord-Gastonia, NC-SC
> Median home sales price: $115,000 (state: $230,000)
> Median household income: $39,426 (state: $54,602)
> Homes that are at least 50 years old: 49.6% (state: 24.4%)

The median home sale price in North Carolina in 2020 was $230,000. In the state’s 28052 ZIP code, which includes the Charlotte suburb of Gastonia, the median home sale price was just $115,000 the same year — half the comparable statewide median.

Like other parts of the country with low home values, a relatively large share of area residents are struggling financially. In the 28052 ZIP code, 23.0% of the population live below the poverty line, and 9.9% of households earn $10,000 or less a year. Nationwide, 13.4% of the population live below the poverty line, and 6.0% of households earn less than $10,000 annually.