A surge in demand for homes in the United States, in addition to limited housing inventory, has created a sellers market unlike anything seen in recent memory. Homes are now selling faster than ever before — and also for more money than ever before.
While rapidly rising housing prices may discourage many would-be buyers, there are parts of the country where home values are relatively low and affordable to a wider range of budgets.
Using data on median home value from the U.S. Census Bureau, 24/7 Wall St. identified the least expensive ZIP codes to buy a home. In every ZIP code on this list, the typical home is worth less than $50,000. Meanwhile, the national median home value is $217,500. Just over half of the ZIP codes on this list are located in the Midwest.
Home values in a given area are often a reflection of what residents can afford, and in every ZIP on this list, the median household income is at least $10,000 lower than the $62,843 that the typical American household earns annually. Here is a look at the poorest town in every state.
Despite the lower incomes, home values in these areas are often low enough to make it less likely that buyers would need to rely on a mortgage. In every ZIP on this list, the share of homeowners who are financing with a mortgage is below the 62.7% share of homeowners with a mortgage nationwide. This is the American city with the most foreclosures.
Click here to see the most affordable zip codes to buy a home in the nation.
Click here to see our detailed methodology.
Source: DenisTangneyJr / Getty Images
50. 48503
> Location: Flint, Michigan
> Median home value: $45,300
> Median monthly housing costs with a mortgage: $897 — 801st lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 50.0% — 4,017th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 55.2% — 2,882nd lowest of 17,809 ZIP codes (tied)
> Median household income: $30,028 — 452nd lowest of 17,808 ZIP codes
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Source: By Magnolia677 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=65961568 / Wikimedia Commons
49. 24620
> Location: Hurley, Virginia
> Median home value: $45,100
> Median monthly housing costs with a mortgage: $1,074 — 3,675th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 23.3% — 121st lowest of 17,809 ZIP codes
> Homeownership rate: 88.6% — 1,269th highest of 17,809 ZIP codes (tied)
> Median household income: $23,673 — 102nd lowest of 17,808 ZIP codes
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48. 64127
> Location: Kansas City, Missouri
> Median home value: $45,100
> Median monthly housing costs with a mortgage: $1,049 — 3,192nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 36.7% — 859th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 42.6% — 1,289th lowest of 17,809 ZIP codes (tied)
> Median household income: $27,013 — 238th lowest of 17,808 ZIP codes
Source: Jacqueline Nix / iStock Editorial via Getty Images
47. 31815
> Location: Lumpkin, Georgia
> Median home value: $44,800
> Median monthly housing costs with a mortgage: $915 — 986th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 22.8% — 112th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 73.9% — 8,356th highest of 17,809 ZIP codes (tied)
> Median household income: $25,216 — 155th lowest of 17,808 ZIP codes
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46. 17851
> Location: Mount Carmel, Pennsylvania
> Median home value: $44,500
> Median monthly housing costs with a mortgage: $819 — 242nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 46.2% — 2,767th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 64.0% — 5,022nd lowest of 17,809 ZIP codes (tied)
> Median household income: $36,071 — 1,238th lowest of 17,808 ZIP codes
Source: By Billy Hathorn - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=11208587 / Wikimedia Commons
45. 79248
> Location: Paducah, Texas
> Median home value: $44,100
> Median monthly housing costs with a mortgage: $844 — 347th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 32.9% — 483rd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 54.9% — 2,829th lowest of 17,809 ZIP codes (tied)
> Median household income: $31,680 — 634th lowest of 17,808 ZIP codes (tied)
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44. 16503
> Location: Erie, Pennsylvania
> Median home value: $44,100
> Median monthly housing costs with a mortgage: $782 — 125th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 37.3% — 945th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 34.7% — 711th lowest of 17,809 ZIP codes (tied)
> Median household income: $25,121 — 148th lowest of 17,808 ZIP codes
Source: TriggerPhoto / Getty Images
43. 64128
> Location: Kansas City, Missouri
> Median home value: $44,000
> Median monthly housing costs with a mortgage: $928 — 1,153rd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 29.0% — 266th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 40.3% — 1,116th lowest of 17,809 ZIP codes (tied)
> Median household income: $26,535 — 209th lowest of 17,808 ZIP codes
Source: By Paul Sableman - Madison City Hall, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=59636234 / Wikimedia Commons
42. 62060
> Location: Madison, Illinois
> Median home value: $43,400
> Median monthly housing costs with a mortgage: $827 — 274th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 36.5% — 828th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 50.9% — 2,227th lowest of 17,809 ZIP codes (tied)
> Median household income: $30,461 — 490th lowest of 17,808 ZIP codes
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Source: Sean Pavone / Getty Images
41. 75253
> Location: Dallas, Texas
> Median home value: $43,100
> Median monthly housing costs with a mortgage: $1,080 — 3,798th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 49.5% — 3,845th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 65.3% — 5,452nd lowest of 17,809 ZIP codes (tied)
> Median household income: $48,174 — 4,809th lowest of 17,808 ZIP codes
Source: By youngamerican at the English-language Wikipedia, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=42314451 / Wikimedia Commons
40. 26261
> Location: Richwood, West Virginia
> Median home value: $43,000
> Median monthly housing costs with a mortgage: $720 — 32nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 23.8% — 128th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 74.9% — 7,830th highest of 17,809 ZIP codes (tied)
> Median household income: $29,252 — 386th lowest of 17,808 ZIP codes
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39. 15110
> Location: Duquesne, Pennsylvania
> Median home value: $42,600
> Median monthly housing costs with a mortgage: $781 — 122nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 48.1% — 3,352nd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 39.0% — 999th lowest of 17,809 ZIP codes (tied)
> Median household income: $29,844 — 436th lowest of 17,808 ZIP codes
Source: Steven_Kriemadis / Getty Images
38. 48238
> Location: Detroit, Michigan
> Median home value: $42,100
> Median monthly housing costs with a mortgage: $1,032 — 2,898th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 26.2% — 171st lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 50.2% — 2,113th lowest of 17,809 ZIP codes (tied)
> Median household income: $25,730 — 171st lowest of 17,808 ZIP codes
Source: https://www.flickr.com/photos/ffg/
37. 48229
> Location: Ecorse, Michigan
> Median home value: $42,100
> Median monthly housing costs with a mortgage: $920 — 1,054th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 29.5% — 290th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 58.8% — 3,634th lowest of 17,809 ZIP codes (tied)
> Median household income: $28,991 — 361st lowest of 17,808 ZIP codes
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Source: By Brandonrush - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=25256949 / Wikimedia Commons
36. 72366
> Location: Marvell, Arkansas
> Median home value: $41,600
> Median monthly housing costs with a mortgage: $692 — 21st lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 15.3% — 38th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 53.7% — 2,638th lowest of 17,809 ZIP codes (tied)
> Median household income: $32,932 — 791st lowest of 17,808 ZIP codes
Source: DenisTangneyJr / Getty Images
35. 48601
> Location: Saginaw, Michigan
> Median home value: $41,300
> Median monthly housing costs with a mortgage: $875 — 585th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 39.3% — 1,249th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 61.7% — 4,347th lowest of 17,809 ZIP codes (tied)
> Median household income: $29,822 — 435th lowest of 17,808 ZIP codes
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34. 15104
> Location: North Braddock, Pennsylvania
> Median home value: $41,100
> Median monthly housing costs with a mortgage: $773 — 102nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 39.5% — 1,291st lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 45.4% — 1,534th lowest of 17,809 ZIP codes (tied)
> Median household income: $30,078 — 453rd lowest of 17,808 ZIP codes
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33. 86504
> Location: Fort Defiance, Arizona
> Median home value: $40,900
> Median monthly housing costs with a mortgage: $648 — 10th lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 9.8% — 14th lowest of 17,809 ZIP codes
> Homeownership rate: 64.0% — 5,022nd lowest of 17,809 ZIP codes (tied)
> Median household income: $33,611 — 853rd lowest of 17,808 ZIP codes (tied)
Source: BrantleyHighline / iStock via Getty Images
32. 17976
> Location: Shenandoah, Pennsylvania
> Median home value: $40,700
> Median monthly housing costs with a mortgage: $947 — 1,417th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 33.3% — 513th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 68.3% — 6,628th lowest of 17,809 ZIP codes (tied)
> Median household income: $35,282 — 1,104th lowest of 17,808 ZIP codes
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31. 86505
> Location: Ganado, Arizona
> Median home value: $40,100
> Median monthly housing costs with a mortgage: $623 — 6th lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 7.1% — 7th lowest of 17,809 ZIP codes
> Homeownership rate: 83.3% — 3,262nd highest of 17,809 ZIP codes (tied)
> Median household income: $23,767 — 105th lowest of 17,808 ZIP codes
Source: kenlund / Flickr
30. 87305
> Location: Rock Springs, New Mexico
> Median home value: $40,100
> Median monthly housing costs with a mortgage: $592 — 2nd lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 13.5% — 31st lowest of 17,809 ZIP codes
> Homeownership rate: 91.8% — 537th highest of 17,809 ZIP codes (tied)
> Median household income: $24,447 — 117th lowest of 17,808 ZIP codes
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29. 66607
> Location: Topeka, Kansas
> Median home value: $40,000
> Median monthly housing costs with a mortgage: $783 — 128th lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 35.9% — 753rd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 45.9% — 1,599th lowest of 17,809 ZIP codes (tied)
> Median household income: $33,610 — 852nd lowest of 17,808 ZIP codes
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28. 29810
> Location: Allendale, South Carolina
> Median home value: $39,600
> Median monthly housing costs with a mortgage: $837 — 316th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 33.5% — 522nd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 63.6% — 4,865th lowest of 17,809 ZIP codes (tied)
> Median household income: $22,688 — 78th lowest of 17,808 ZIP codes
Source: Steven_Kriemadis / Getty Images
27. 48211
> Location: Detroit, Michigan
> Median home value: $39,200
> Median monthly housing costs with a mortgage: $1,088 — 3,969th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 17.6% — 53rd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 33.9% — 670th lowest of 17,809 ZIP codes (tied)
> Median household income: $24,104 — 110th lowest of 17,808 ZIP codes
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Source: Mshake / Getty Images
26. 43605
> Location: Toledo, Ohio
> Median home value: $38,600
> Median monthly housing costs with a mortgage: $800 — 185th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 47.5% — 3,190th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 43.2% — 1,337th lowest of 17,809 ZIP codes (tied)
> Median household income: $29,179 — 374th lowest of 17,808 ZIP codes
Source: tulioassis / Flickr
25. 57555
> Location: Mission, South Dakota
> Median home value: $38,400
> Median monthly housing costs with a mortgage: $1,125 — 4,754th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 10.5% — 15th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 47.3% — 1,758th lowest of 17,809 ZIP codes (tied)
> Median household income: $32,007 — 672nd lowest of 17,808 ZIP codes
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24. 48234
> Location: Detroit, Michigan
> Median home value: $37,600
> Median monthly housing costs with a mortgage: $978 — 1,967th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 27.7% — 209th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 54.0% — 2,678th lowest of 17,809 ZIP codes (tied)
> Median household income: $28,935 — 357th lowest of 17,808 ZIP codes
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23. 61605
> Location: Peoria, Illinois
> Median home value: $37,300
> Median monthly housing costs with a mortgage: $721 — 34th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 35.2% — 685th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 37.2% — 887th lowest of 17,809 ZIP codes (tied)
> Median household income: $21,276 — 56th lowest of 17,808 ZIP codes
Source: JerryB7 / iStock via Getty Images
22. 48218
> Location: River Rouge, Michigan
> Median home value: $36,300
> Median monthly housing costs with a mortgage: $972 — 1,852nd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 36.4% — 815th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 54.9% — 2,829th lowest of 17,809 ZIP codes (tied)
> Median household income: $25,517 — 166th lowest of 17,808 ZIP codes
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Source: Larry D. Moore / Wikimedia Commons
21. 78384
> Location: San Diego, Texas
> Median home value: $35,900
> Median monthly housing costs with a mortgage: $953 — 1,500th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 9.4% — 11th lowest of 17,809 ZIP codes
> Homeownership rate: 57.6% — 3,348th lowest of 17,809 ZIP codes (tied)
> Median household income: $31,192 — 580th lowest of 17,808 ZIP codes (tied)
Source: Sean Pavone / Getty Images
20. 44127
> Location: Cleveland, Ohio
> Median home value: $35,100
> Median monthly housing costs with a mortgage: $961 — 1,648th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 41.8% — 1,724th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 39.6% — 1,055th lowest of 17,809 ZIP codes (tied)
> Median household income: $20,813 — 44th lowest of 17,808 ZIP codes
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19. 48228
> Location: Detroit, Michigan
> Median home value: $34,700
> Median monthly housing costs with a mortgage: $1,028 — 2,821st lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 30.0% — 311th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 48.5% — 1,894th lowest of 17,809 ZIP codes (tied)
> Median household income: $27,337 — 263rd lowest of 17,808 ZIP codes (tied)
Source: Sean Pavone / iStock via Getty Images
18. 48210
> Location: Detroit, Michigan
> Median home value: $34,300
> Median monthly housing costs with a mortgage: $916 — 998th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 15.3% — 38th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 54.4% — 2,749th lowest of 17,809 ZIP codes (tied)
> Median household income: $30,142 — 463rd lowest of 17,808 ZIP codes
Source: Mshake / Getty Images
17. 43608
> Location: Toledo, Ohio
> Median home value: $34,300
> Median monthly housing costs with a mortgage: $775 — 110th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 45.0% — 2,450th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 50.4% — 2,158th lowest of 17,809 ZIP codes (tied)
> Median household income: $27,393 — 268th lowest of 17,808 ZIP codes
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16. 79346
> Location: Morton, Texas
> Median home value: $33,600
> Median monthly housing costs with a mortgage: $879 — 613th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 22.9% — 116th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 77.2% — 6,535th highest of 17,809 ZIP codes (tied)
> Median household income: $38,478 — 1,795th lowest of 17,808 ZIP codes (tied)
15. 48204
> Location: Detroit, Michigan
> Median home value: $33,300
> Median monthly housing costs with a mortgage: $968 — 1,768th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 24.0% — 132nd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 51.7% — 2,333rd lowest of 17,809 ZIP codes (tied)
> Median household income: $24,283 — 115th lowest of 17,808 ZIP codes
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14. 48504
> Location: Flint, Michigan
> Median home value: $32,600
> Median monthly housing costs with a mortgage: $887 — 697th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 43.0% — 1,970th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 61.2% — 4,190th lowest of 17,809 ZIP codes (tied)
> Median household income: $31,685 — 636th lowest of 17,808 ZIP codes
Source: Rawf8 / iStock Editorial via Getty Images
13. 86503
> Location: Chinle, Arizona
> Median home value: $32,400
> Median monthly housing costs with a mortgage: $771 — 93rd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 5.4% — 2nd lowest of 17,809 ZIP codes
> Homeownership rate: 73.1% — 8,783rd highest of 17,809 ZIP codes (tied)
> Median household income: $24,982 — 141st lowest of 17,808 ZIP codes
Source: Robert_Ford / Getty Images
12. 87311
> Location: Church Rock, New Mexico
> Median home value: $31,900
> Median monthly housing costs with a mortgage: $780 — 121st lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 10.7% — 17th lowest of 17,809 ZIP codes
> Homeownership rate: 80.2% — 4,883rd highest of 17,809 ZIP codes (tied)
> Median household income: $26,591 — 211th lowest of 17,808 ZIP codes (tied)
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11. 48205
> Location: Detroit, Michigan
> Median home value: $31,800
> Median monthly housing costs with a mortgage: $959 — 1,600th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 33.9% — 557th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 34.4% — 695th lowest of 17,809 ZIP codes (tied)
> Median household income: $38,258 — 1,742nd lowest of 17,808 ZIP codes
Source: Sean Pavone / iStock via Getty Images
10. 48213
> Location: Detroit, Michigan
> Median home value: $31,300
> Median monthly housing costs with a mortgage: $973 — 1,867th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 23.7% — 124th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 52.7% — 2,467th lowest of 17,809 ZIP codes (tied)
> Median household income: $25,405 — 159th lowest of 17,808 ZIP codes
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Source: Davel5957 / Getty Images
9. 44502
> Location: Youngstown, Ohio
> Median home value: $31,100
> Median monthly housing costs with a mortgage: $669 — 15th lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 41.6% — 1,674th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 57.7% — 3,373rd lowest of 17,809 ZIP codes (tied)
> Median household income: $30,692 — 521st lowest of 17,808 ZIP codes
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8. 17948
> Location: Mahanoy City, Pennsylvania
> Median home value: $30,600
> Median monthly housing costs with a mortgage: $945 — 1,389th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 30.3% — 333rd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 65.8% — 5,620th lowest of 17,809 ZIP codes (tied)
> Median household income: $38,203 — 1,723rd lowest of 17,808 ZIP codes (tied)
Source: hickoryhardscrabble / Flickr
7. 62914
> Location: Cairo, Illinois
> Median home value: $30,200
> Median monthly housing costs with a mortgage: $1,060 — 3,394th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 27.0% — 188th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 70.4% — 7,574th lowest of 17,809 ZIP codes (tied)
> Median household income: $27,180 — 251st lowest of 17,808 ZIP codes
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6. 10475
> Location: New York, New York
> Median home value: $28,200
> Median monthly housing costs with a mortgage: $393 — 1st lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 32.7% — 466th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 44.8% — 1,475th lowest of 17,809 ZIP codes (tied)
> Median household income: $51,951 — 6,277th lowest of 17,808 ZIP codes
Source: RobHainer / Getty Images
5. 33815
> Location: Lakeland, Florida
> Median home value: $27,900
> Median monthly housing costs with a mortgage: $806 — 204th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 19.3% — 66th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 57.5% — 3,318th lowest of 17,809 ZIP codes (tied)
> Median household income: $32,193 — 692nd lowest of 17,808 ZIP codes
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4. 15901
> Location: Johnstown, Pennsylvania
> Median home value: $27,200
> Median monthly housing costs with a mortgage: $1,028 — 2,821st lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 27.2% — 192nd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 25.7% — 335th lowest of 17,809 ZIP codes (tied)
> Median household income: $14,853 — 4th lowest of 17,808 ZIP codes
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Source: DenisTangneyJr / iStock via Getty Images
3. 48505
> Location: Flint, Michigan
> Median home value: $22,500
> Median monthly housing costs with a mortgage: $857 — 438th lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 27.3% — 195th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 54.4% — 2,749th lowest of 17,809 ZIP codes (tied)
> Median household income: $25,949 — 179th lowest of 17,808 ZIP codes
Source: DenisTangneyJr / Getty Images
2. 44507
> Location: Youngstown, Ohio
> Median home value: $22,200
> Median monthly housing costs with a mortgage: $723 — 37th lowest of 17,805 ZIP codes
> Share of housing units with a mortgage: 17.4% — 49th lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 39.0% — 999th lowest of 17,809 ZIP codes (tied)
> Median household income: $18,900 — 21st lowest of 17,808 ZIP codes
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1. 98439
> Location: Lakewood, Washington
> Median home value: $18,400
> Median monthly housing costs with a mortgage: $742 — 53rd lowest of 17,805 ZIP codes (tied)
> Share of housing units with a mortgage: 15.9% — 43rd lowest of 17,809 ZIP codes (tied)
> Homeownership rate: 13.5% — 91st lowest of 17,809 ZIP codes (tied)
> Median household income: $39,219 — 1,957th lowest of 17,808 ZIP codes
Methodology
To determine the most affordable ZIP codes to buy a home in the nation, 24/7 Wall St. reviewed five-year estimates of median owner-occupied home values from the U.S. Census Bureau’s 2019 American Community Survey.
We used ZIP Code Tabulation Areas — a Census geography type that defines areal representations of United States Postal Service ZIP codes (USPS ZIP codes do not define geographic boundaries but instead are a network of mail delivery routes in a service area). We refer to Census ZCTAs as ZIP codes.
Of the 33,120 ZIP codes the census publishes data for, 32,989 had boundaries that fell within one of the 50 states or the District of Columbia.
ZIP codes were excluded if owner-occupied median home values were not available in the 2019 ACS, if there were fewer than 1,000 housing units, or if the sampling error associated with a ZIP code’s data was deemed too high.
The sampling error was defined as too high if the coefficient of variation — a statistical assessment of how reliable an estimate is — for a ZIP code’s owner-occupied median home value was above 15% and greater than two standard deviations above the mean CV for all ZIP codes’ owner-occupied median home values. We similarly excluded ZIP codes that had a sampling error too high for their population, using the same definition.
The remaining 17,809 places were ranked based on their owner-occupied median home values. To break ties, we used median monthly housing costs with a mortgage.
Additional data on median monthly housing costs with a mortgage, the share of owner-occupied housing units that have a mortgage, rates of homeownership, and median household income are also five-year estimates from the 2019 ACS.
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