Special Report

The Cheapest City to Buy a Home in Every State

Source: Public Domain / Wikimedia Commons

South Dakota: Aberdeen
> Median home value: $161,800 (South Dakota: $167,100)
> Median monthly housing costs with a mortgage: $1,275 (South Dakota: $1,340)
> Share of housing units with a mortgage: 60.4% (South Dakota: 55.6%)
> Homeownership rate: 56.7% (South Dakota: 67.8%)
> Median household income: $52,651 (South Dakota: $58,275)

Source: Sean Pavone / Getty Images

Tennessee: Memphis
> Median home value: $101,800 (Tennessee: $167,200)
> Median monthly housing costs with a mortgage: $1,191 (Tennessee: $1,244)
> Share of housing units with a mortgage: 62.0% (Tennessee: 59.2%)
> Homeownership rate: 46.6% (Tennessee: 66.3%)
> Median household income: $41,228 (Tennessee: $53,320)

Source: DenisTangneyJr / iStock via Getty Images

Texas: Port Arthur
> Median home value: $65,800 (Texas: $172,500)
> Median monthly housing costs with a mortgage: $1,175 (Texas: $1,606)
> Share of housing units with a mortgage: 28.6% (Texas: 57.4%)
> Homeownership rate: 57.7% (Texas: 62.0%)
> Median household income: $36,557 (Texas: $61,874)

Source: johnnya123 / Getty Images

Utah: Ogden
> Median home value: $170,100 (Utah: $279,100)
> Median monthly housing costs with a mortgage: $1,185 (Utah: $1,551)
> Share of housing units with a mortgage: 69.2% (Utah: 70.5%)
> Homeownership rate: 57.7% (Utah: 70.2%)
> Median household income: $50,061 (Utah: $71,621)

Source: Sean Pavone / Getty Images

Vermont: Burlington*
> Median home value: $284,500 (Vermont: $227,700)
> Median monthly housing costs with a mortgage: $1,884 (Vermont: $1,621)
> Share of housing units with a mortgage: 65.6% (Vermont: 62.6%)
> Homeownership rate: 35.8% (Vermont: 70.8%)
> Median household income: $51,394 (Vermont: $61,973)

*Because Burlington is the only eligible city in Vermont, it is the most affordable city to buy a home by default.

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