Homeownership was once a cornerstone of the American dream. But for a growing share of the population, it is now more akin to a pipe dream. Within the last two years, real incomes have been crushed under the weight of historic inflation. At the same time, the Federal Reserve’s interest rate hikes have sent mortgage rates soaring.
With reduced buying power and increased borrowing costs, consumer interest in the real estate market has cooled. The number of existing home sales in the U.S. declined by 23% from April 2022 to April 2023, according to the National Association of Realtors. But while demand from home buyers has fallen, home prices have not. (These are the states with the worst housing shortages for low income Americans.)
According to the real estate market website Realtor.com, the median list price for a home in the United States was $441,445 in May 2023 – 2.7% higher than it was a year earlier. But while such prices are prohibitively high for most Americans, there are parts of the country where homes are selling for far less and where homeownership is still possible for those on a modest budget.
Using data from Realtor.com, 24/7 Wall St. identified the county with the least expensive housing market in every state. Counties, or county equivalents, were ranked by the median list price in May 2023. Within each state, we only considered places with at least 10 homes actively listed on the market in May 2023.
In every state except Hawaii, there is at least one county or county equivalent where the median price of listed homes is below the national median. In the majority of states, there is at least one county where most homes are listed for less than $200,000. Depending on the state, the median list price in the cheapest housing market is anywhere from 17% to 95% lower than the median home price statewide.
Lower home prices in these areas are attributable in part to smaller sized homes. In all but three states, the typical home in the least expensive housing market is smaller than the typical home across the state as a whole. Still, these places offer a better value, as the median price per square foot is lower than it is across the state in every case. (Here is a look at how much home you can buy for $200,000 in each state.)
Click here to see the county with the least expensive housing market in every state.
Click here to read our detailed methodology.
Source: Jacqueline Nix / iStock Editorial via Getty Images
Alabama: Dallas County
> Median list price: $70,500 (State: $336,750)
> Median size of listed homes: 1,704 sq. ft. (State: 2,001 sq. ft.)
> Median household income: $34,957 (State: $54,943)
> Population: 39,162
> Counties considered in state: 63
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Source: Thinkstock
Alaska: Hoonah-Angoon Census Area
> Median list price: $219,975 (State: $415,400)
> Median size of listed homes: 1,254 sq. ft. (State: 1,845 sq. ft.)
> Median household income: $55,990 (State: $80,287)
> Population: 2,327
> County equivalents considered in state: 12
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Source: BOB WESTON / iStock via Getty Images
Arizona: Graham County
> Median list price: $323,500 (State: $500,000)
> Median size of listed homes: 2,049 sq. ft. (State: 1,978 sq. ft.)
> Median household income: $57,105 (State: $65,913)
> Population: 38,145
> Counties considered in state: 14
Source: Roberto Galan / iStock Editorial via Getty Images
Arkansas: Jackson County
> Median list price: $79,425 (State: $291,075)
> Median size of listed homes: 1,481 sq. ft. (State: 1,915 sq. ft.)
> Median household income: $39,154 (State: $52,123)
> Population: 16,878
> Counties considered in state: 66
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Source: Tomás Guardia Bencomo / iStock via Getty Images
California: Alpine County
> Median list price: $41,175 (State: $774,500)
> Median size of listed homes: 776 sq. ft. (State: 1,820 sq. ft.)
> Median household income: $96,000 (State: $84,097)
> Population: 1,344
> Counties considered in state: 57
Colorado: Crowley County
> Median list price: $164,900 (State: $649,450)
> Median size of listed homes: 1,358 sq. ft. (State: 2,262 sq. ft.)
> Median household income: $37,870 (State: $80,184)
> Population: 6,018
> Counties considered in state: 57
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Source: DenisTangneyJr / iStock via Getty Images
Connecticut: Hartford County
> Median list price: $386,950 (State: $579,900)
> Median size of listed homes: 1,963 sq. ft. (State: 2,228 sq. ft.)
> Median household income: $80,320 (State: $83,572)
> Population: 898,636
> Counties considered in state: 8
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Source: Kptan123 / iStock via Getty Images
Delaware: Kent County
> Median list price: $417,225 (State: $499,997)
> Median size of listed homes: 2,014 sq. ft. (State: 2,204 sq. ft.)
> Median household income: $63,715 (State: $72,724)
> Population: 180,078
> Counties considered in state: 3
Source: Simplyphotos / iStock via Getty Images
Florida: Hamilton County
> Median list price: $232,000 (State: $475,000)
> Median size of listed homes: 1,613 sq. ft. (State: 1,708 sq. ft.)
> Median household income: $39,346 (State: $61,777)
> Population: 13,973
> Counties considered in state: 66
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Georgia: Terrell County
> Median list price: $96,175 (State: $400,000)
> Median size of listed homes: 1,624 sq. ft. (State: 2,210 sq. ft.)
> Median household income: $38,879 (State: $65,030)
> Population: 9,102
> Counties considered in state: 131
Source: Lorraine Boogich / iStock via Getty Images
Hawaii: Hawaii County
> Median list price: $617,944 (State: $850,000)
> Median size of listed homes: 1,457 sq. ft. (State: 1,248 sq. ft.)
> Median household income: $68,399 (State: $88,005)
> Population: 200,468
> Counties considered in state: 4
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Idaho: Butte County
> Median list price: $256,250 (State: $589,500)
> Median size of listed homes: 1,650 sq. ft. (State: 2,243 sq. ft.)
> Median household income: $41,552 (State: $63,377)
> Population: 2,573
> Counties considered in state: 43
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Source: benkrut / iStock via Getty Images
Illinois: Greene County
> Median list price: $51,350 (State: $321,150)
> Median size of listed homes: 1,451 sq. ft. (State: 1,753 sq. ft.)
> Median household income: $54,427 (State: $72,563)
> Population: 12,187
> Counties considered in state: 85
Source: Roberto Galan / iStock Editorial via Getty Images
Indiana: Sullivan County
> Median list price: $88,700 (State: $306,475)
> Median size of listed homes: 1,438 sq. ft. (State: 1,982 sq. ft.)
> Median household income: $49,393 (State: $61,944)
> Population: 20,814
> Counties considered in state: 89
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Source: Public Domain / Wikimedia Commons
Iowa: Page County
> Median list price: $112,500 (State: $319,950)
> Median size of listed homes: 1,501 sq. ft. (State: 1,634 sq. ft.)
> Median household income: $52,108 (State: $65,429)
> Population: 15,250
> Counties considered in state: 91
Kansas: Cloud County
> Median list price: $69,425 (State: $321,632)
> Median size of listed homes: 1,591 sq. ft. (State: 2,139 sq. ft.)
> Median household income: $53,110 (State: $64,521)
> Population: 9,037
> Counties considered in state: 63
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Kentucky: Letcher County
> Median list price: $103,000 (State: $307,364)
> Median size of listed homes: 1,364 sq. ft. (State: 1,927 sq. ft.)
> Median household income: $35,278 (State: $55,454)
> Population: 21,784
> Counties considered in state: 105
Louisiana: Evangeline Parish
> Median list price: $113,875 (State: $289,950)
> Median size of listed homes: 1,855 sq. ft. (State: 1,902 sq. ft.)
> Median household income: $32,465 (State: $53,571)
> Population: 32,538
> Parishes considered in state: 60
Source: DenisTangneyJr / iStock via Getty Images
Maine: Aroostook County
> Median list price: $189,000 (State: $439,475)
> Median size of listed homes: 1,563 sq. ft. (State: 1,680 sq. ft.)
> Median household income: $47,278 (State: $63,182)
> Population: 67,272
> Counties considered in state: 16
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Source: DenisTangneyJr / iStock via Getty Images
Maryland: Allegany County
> Median list price: $122,350 (State: $426,780)
> Median size of listed homes: 1,524 sq. ft. (State: 1,910 sq. ft.)
> Median household income: $51,090 (State: $91,431)
> Population: 68,684
> Counties considered in state: 24
Source: DenisTangneyJr / Getty Images
Massachusetts: Hampden County
> Median list price: $344,175 (State: $799,000)
> Median size of listed homes: 1,615 sq. ft. (State: 1,914 sq. ft.)
> Median household income: $61,310 (State: $89,026)
> Population: 466,265
> Counties considered in state: 14
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Source: SteveDeming / iStock via Getty Images
Michigan: Iron County
> Median list price: $115,600 (State: $292,450)
> Median size of listed homes: 1,434 sq. ft. (State: 1,622 sq. ft.)
> Median household income: $45,792 (State: $63,202)
> Population: 11,580
> Counties considered in state: 82
Source: Jonathunder / Wikimedia Commons
Minnesota: Faribault County
> Median list price: $119,725 (State: $409,950)
> Median size of listed homes: 1,990 sq. ft. (State: 2,043 sq. ft.)
> Median household income: $55,186 (State: $77,706)
> Population: 13,933
> Counties considered in state: 82
Source: BOB WESTON / iStock via Getty Images
Mississippi: Humphreys County
> Median list price: $79,000 (State: $284,000)
> Median size of listed homes: 1,463 sq. ft. (State: 2,000 sq. ft.)
> Median household income: $30,327 (State: $49,111)
> Population: 7,916
> Counties considered in state: 68
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Missouri: Knox County
> Median list price: $62,363 (State: $301,350)
> Median size of listed homes: 1,101 sq. ft. (State: 1,818 sq. ft.)
> Median household income: $40,814 (State: $61,043)
> Population: 3,782
> Counties considered in state: 105
Source: usdagov / Flickr
Montana: Phillips County
> Median list price: $160,375 (State: $675,000)
> Median size of listed homes: 1,305 sq. ft. (State: 2,182 sq. ft.)
> Median household income: $50,789 (State: $60,560)
> Population: 4,233
> Counties considered in state: 39
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Nebraska: Furnas County
> Median list price: $134,900 (State: $372,513)
> Median size of listed homes: 1,708 sq. ft. (State: 2,214 sq. ft.)
> Median household income: $57,284 (State: $66,644)
> Population: 4,655
> Counties considered in state: 43
Nevada: Mineral County
> Median list price: $180,000 (State: $469,750)
> Median size of listed homes: 1,392 sq. ft. (State: 1,909 sq. ft.)
> Median household income: $43,009 (State: $65,686)
> Population: 4,552
> Counties considered in state: 14
Source: BOB WESTON / iStock via Getty Images
New Hampshire: Coos County
> Median list price: $261,975 (State: $549,950)
> Median size of listed homes: 1,637 sq. ft. (State: 1,976 sq. ft.)
> Median household income: $52,054 (State: $83,449)
> Population: 31,360
> Counties considered in state: 10
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New Jersey: Cumberland County
> Median list price: $254,975 (State: $544,500)
> Median size of listed homes: 1,495 sq. ft. (State: 1,755 sq. ft.)
> Median household income: $58,397 (State: $89,703)
> Population: 154,921
> Counties considered in state: 21
Source: Jesse Stephens / iStock via Getty Images
New Mexico: Cibola County
> Median list price: $156,875 (State: $382,475)
> Median size of listed homes: 1,354 sq. ft. (State: 1,998 sq. ft.)
> Median household income: $47,300 (State: $54,020)
> Population: 27,284
> Counties considered in state: 28
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Source: Thinkstock
New York: Livingston County
> Median list price: $124,900 (State: $654,475)
> Median size of listed homes: 1,650 sq. ft. (State: 1,572 sq. ft.)
> Median household income: $64,467 (State: $75,157)
> Population: 62,253
> Counties considered in state: 62
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North Carolina: Northampton County
> Median list price: $134,950 (State: $425,000)
> Median size of listed homes: 1,452 sq. ft. (State: 2,094 sq. ft.)
> Median household income: $39,764 (State: $60,516)
> Population: 17,917
> Counties considered in state: 99
North Dakota: Pierce County
> Median list price: $139,500 (State: $349,350)
> Median size of listed homes: 1,924 sq. ft. (State: 2,158 sq. ft.)
> Median household income: $59,803 (State: $68,131)
> Population: 4,038
> Counties considered in state: 23
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Ohio: Jefferson County
> Median list price: $99,850 (State: $257,500)
> Median size of listed homes: 1,587 sq. ft. (State: 1,743 sq. ft.)
> Median household income: $49,211 (State: $61,938)
> Population: 65,620
> Counties considered in state: 87
Oklahoma: Woods County
> Median list price: $85,125 (State: $319,950)
> Median size of listed homes: 1,475 sq. ft. (State: 1,971 sq. ft.)
> Median household income: $55,933 (State: $56,956)
> Population: 8,731
> Counties considered in state: 66
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Oregon: Harney County
> Median list price: $295,000 (State: $579,925)
> Median size of listed homes: 1,826 sq. ft. (State: 1,918 sq. ft.)
> Median household income: $42,095 (State: $70,084)
> Population: 7,454
> Counties considered in state: 33
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Pennsylvania: Cambria County
> Median list price: $85,500 (State: $299,000)
> Median size of listed homes: 1,497 sq. ft. (State: 1,712 sq. ft.)
> Median household income: $51,018 (State: $67,587)
> Population: 134,048
> Counties considered in state: 66
Source: SeanPavonePhoto / iStock via Getty Images
Rhode Island: Providence County
> Median list price: $409,900 (State: $537,000)
> Median size of listed homes: 1,494 sq. ft. (State: 1,648 sq. ft.)
> Median household income: $65,797 (State: $74,489)
> Population: 656,672
> Counties considered in state: 5
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South Carolina: Marlboro County
> Median list price: $143,440 (State: $360,995)
> Median size of listed homes: 1,718 sq. ft. (State: 1,974 sq. ft.)
> Median household income: $32,136 (State: $58,234)
> Population: 26,912
> Counties considered in state: 45
Source: James_Gabbert / iStock via Getty Images
South Dakota: Perkins County
> Median list price: $98,000 (State: $372,375)
> Median size of listed homes: 1,431 sq. ft. (State: 1,862 sq. ft.)
> Median household income: $59,432 (State: $63,920)
> Population: 2,977
> Counties considered in state: 27
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Tennessee: Lake County
> Median list price: $112,400 (State: $449,995)
> Median size of listed homes: 1,383 sq. ft. (State: 2,129 sq. ft.)
> Median household income: $34,923 (State: $58,516)
> Population: 7,187
> Counties considered in state: 95
Texas: Hall County
> Median list price: $86,499 (State: $389,950)
> Median size of listed homes: 1,561 sq. ft. (State: 2,060 sq. ft.)
> Median household income: $41,467 (State: $67,321)
> Population: 2,875
> Counties considered in state: 210
Source: halbergman / iStock via Getty Images
Utah: Emery County
> Median list price: $305,000 (State: $629,900)
> Median size of listed homes: 2,467 sq. ft. (State: 2,634 sq. ft.)
> Median household income: $61,234 (State: $79,133)
> Population: 9,839
> Counties considered in state: 26
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Vermont: Essex County
> Median list price: $235,950 (State: $454,500)
> Median size of listed homes: 1,459 sq. ft. (State: 1,935 sq. ft.)
> Median household income: $48,194 (State: $67,674)
> Population: 5,972
> Counties considered in state: 14
Source: WilliamSherman / iStock via Getty Images
Virginia: Buchanan County
> Median list price: $64,725 (State: $456,062)
> Median size of listed homes: 1,294 sq. ft. (State: 2,092 sq. ft.)
> Median household income: $37,093 (State: $80,615)
> Population: 20,615
> Counties considered in state: 122
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Washington: Adams County
> Median list price: $378,725 (State: $650,000)
> Median size of listed homes: 1,926 sq. ft. (State: 2,061 sq. ft.)
> Median household income: $54,573 (State: $82,400)
> Population: 20,353
> Counties considered in state: 37
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West Virginia: Mcdowell County
> Median list price: $59,175 (State: $239,495)
> Median size of listed homes: 1,421 sq. ft. (State: 1,791 sq. ft.)
> Median household income: $30,127 (State: $50,884)
> Population: 19,334
> Counties considered in state: 47
Wisconsin: Florence County
> Median list price: $194,925 (State: $375,000)
> Median size of listed homes: 1,341 sq. ft. (State: 1,806 sq. ft.)
> Median household income: $52,143 (State: $67,080)
> Population: 4,542
> Counties considered in state: 70
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Wyoming: Washakie County
> Median list price: $218,750 (State: $477,500)
> Median size of listed homes: 1,954 sq. ft. (State: 2,394 sq. ft.)
> Median household income: $62,271 (State: $68,002)
> Population: 7,768
> Counties considered in state: 22
Methodology
To identify the county or county equivalent with the least expensive housing market in each state, 24/7 Wall St. reviewed listing price data from realtor.com, a real estate market website. For each state, we identified the county or county equivalent with the lowest median listing price in May 2023. Only counties or county equivalents with at least 10 homes actively listed on the market were considered.
Additional data on the number of homes actively listed, and the median size of listed homes in May 2023 are also from Realtor.com.
Data on median household income and population are five-year estimates from the U.S. Census Bureau’s 2021 American Community Survey.
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