Special Report

Cheapest Cities to Buy a Home

Source: Public Domain / Wikimedia Commons

10. Lima, Ohio
> Median home value: $66,600
> Median monthly housing costs with a mortgage: $879 — 10th lowest of 1,774 cities
> Share of housing units with a mortgage: 56.6% — 208th lowest of 1,774 cities (tied)
> Homeownership rate: 47.3% — 305th lowest of 1,774 cities (tied)
> Median household income: $35,799 — 60th lowest of 1,774 cities

Source: DenisTangneyJr / iStock via Getty Images

9. Gary, Indiana
> Median home value: $66,100
> Median monthly housing costs with a mortgage: $971 — 50th lowest of 1,774 cities
> Share of housing units with a mortgage: 45.1% — 36th lowest of 1,774 cities
> Homeownership rate: 50.6% — 415th lowest of 1,774 cities (tied)
> Median household income: $31,936 — 20th lowest of 1,774 cities

Source: DenisTangneyJr / iStock via Getty Images

8. Port Arthur, Texas
> Median home value: $65,800
> Median monthly housing costs with a mortgage: $1,175 — 261st lowest of 1,774 cities (tied)
> Share of housing units with a mortgage: 28.6% — 2nd lowest of 1,774 cities
> Homeownership rate: 57.7% — 751st lowest of 1,774 cities (tied)
> Median household income: $36,557 — 69th lowest of 1,774 cities

Source: 2ndLookGraphics / E+ via Getty Images

7. Jamestown, New York
> Median home value: $63,200
> Median monthly housing costs with a mortgage: $840 — 5th lowest of 1,774 cities (tied)
> Share of housing units with a mortgage: 53.8% — 129th lowest of 1,774 cities (tied)
> Homeownership rate: 49.7% — 376th lowest of 1,774 cities (tied)
> Median household income: $33,420 — 36th lowest of 1,774 cities

Source: Jack Pearce from Boardman, OH, USA / Wikimedia Commons

6. Warren, Ohio
> Median home value: $62,100
> Median monthly housing costs with a mortgage: $840 — 5th lowest of 1,774 cities (tied)
> Share of housing units with a mortgage: 48.5% — 57th lowest of 1,774 cities
> Homeownership rate: 50.0% — 390th lowest of 1,774 cities (tied)
> Median household income: $28,898 — 8th lowest of 1,774 cities

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.