Special Report

Most Affordable Housing Markets in the South

Kylestonephotgraphy / Wikimedia Commons
Samuel Stebbins
Published:

Home values are at an all time high in the United States. According to real estate marketplace company Zillow, the typical American home was worth $348,539 at the end of September 2023, the latest month of available data – up 44% from four years earlier.

The sharp rise in home prices, precipitated in part by supply constraints and surging demand during the COVID-19 pandemic, has made homeownership unaffordable for large segments of the population. The ongoing affordability crisis has been compounded in recent months by rising interest rates. As of late October, the average 30-year fixed mortgage rate in the U.S. stood at 7.8%, the highest level in over two decades. (Here is a look at the states with the worst housing shortages for low income Americans.)

Some of these broader market trends have not impacted all parts of the country evenly, however. Based on the latest Zillow data, there are 10 states where the typical home is worth less than $250,000, and all but three of them are concentrated in the South. And in many cities and towns across the Southern United States, most homes cost less than $100,000. 

Using data from Zillow, 24/7 Wall St. identified the most affordable housing markets in the South. We reviewed Zillow estimates on median home value for over 1,800 communities across the Southern U.S. We only considered places with populations of over 5,000 and with income data from the U.S. Census Bureau’s 2021 American Community Survey. 

Among the 50 places on this list, the value of a typical home ranges from just under $97,000 to about $43,000. These cities and towns are spread across eight Southern states, including Texas, where 12 places on this list are located, as well as Alabama, Arkansas, and Oklahoma, which are each home to seven. 

Breaking from the broader national trend, 40 of the cities and towns on this list have reported falling home values in the last 12 months. In most of them, falling home values coincided with a one-year decline in population, according to five-year estimates from the Census Bureau’s 2021 ACS, which likely resulted in reduced demand for housing. 

Not only a product of supply and demand, home values are also often a reflection of what local residents can afford – and incomes in each of these places are lower than average. Nationwide, the typical American household earns $69,021 annually, according to five-year ACS estimates. Meanwhile, no city or town on this list has a median household income above $56,000, and in most of them, the typical household earns less than $40,000 a year. (Here is a look at the poorest county in every state.)

Here are the most affordable housing markets in the South.

50. Alva, OK

Historic Central National Bank by Zeugzeug
Historic Central National Bank (CC BY-SA 4.0) by Zeugzeug
  • Typical home value, Sept. 2022: $96,774 (state: $199,221)
  • Median household income: $48,523 (state: $56,956)
  • 1-yr. home value change: +7.2% (+$6,506)
  • Population: 5,056
  • 1-yr. population change: +0.2% (+10)
  • Region: Woods County, Oklahoma

49. Hazard, KY

First View of Thunder Ridge Mi... by Appalachian Voices
First View of Thunder Ridge Mi... (CC BY 2.0) by Appalachian Voices
  • Typical home value, Sept. 2022: $96,754 (state: $200,645)
  • Median household income: $55,543 (state: $55,454)
  • 1-yr. home value change: -4.4% (-$4,414)
  • Population: 5,236
  • 1-yr. population change: +5.3% (+262)
  • Region: Perry County, Kentucky

48. Camden, AR

Benjamin T. Powell House by Valis55
Benjamin T. Powell House (CC BY-SA 4.0 DEED) by Valis55
  • Typical home value, Sept. 2022: $96,538 (state: $200,795)
  • Median household income: $42,348 (state: $52,123)
  • 1-yr. home value change: +3.0% (+$2,829)
  • Population: 10,644
  • 1-yr. population change: -2.1% (-233)
  • Region: Ouachita County, Arkansas

47. Warren, AR

Bradley County Courthouse 001 by Brandonrush
Bradley County Courthouse 001 (CC BY-SA 3.0 DEED) by Brandonrush
  • Typical home value, Sept. 2022: $96,363 (state: $200,795)
  • Median household income: $36,446 (state: $52,123)
  • 1-yr. home value change: +5.0% (+$4,627)
  • Population: 5,485
  • 1-yr. population change: -2.0% (-111)
  • Region: Bradley County, Arkansas

46. Port Arthur, TX

Source: DenisTangneyJr / iStock via Getty Images
  • Typical home value, Sept. 2022: $96,125 (state: $300,090)
  • Median household income: $42,933 (state: $67,321)
  • 1-yr. home value change: -1.7% (-$1,636)
  • Population: 55,757
  • 1-yr. population change: +1.9% (+1,052)
  • Region: Jefferson County, Texas

45. Brownfield, TX

Source: krblokhin / iStock via Getty Images
  • Typical home value, Sept. 2022: $96,101 (state: $300,090)
  • Median household income: $45,557 (state: $67,321)
  • 1-yr. home value change: -14.7% (-$16,529)
  • Population: 9,065
  • 1-yr. population change: -3.9% (-366)
  • Region: Terry County, Texas

44. Henryetta, OK

Nichols Park Beach House by Thomas & Dianne Jones
Nichols Park Beach House (CC BY 2.0) by Thomas & Dianne Jones
  • Typical home value, Sept. 2022: $95,940 (state: $199,221)
  • Median household income: $38,942 (state: $56,956)
  • 1-yr. home value change: +1.8% (+$1,714)
  • Population: 5,667
  • 1-yr. population change: +1.5% (+81)
  • Region: Okmulgee County, Oklahoma

43. Okmulgee, OK

Source: BOB WESTON / Getty Images
  • Typical home value, Sept. 2022: $94,788 (state: $199,221)
  • Median household income: $36,258 (state: $56,956)
  • 1-yr. home value change: +2.7% (+$2,498)
  • Population: 11,330
  • 1-yr. population change: -3.7% (-438)
  • Region: Okmulgee County, Oklahoma

42. Franklin, LA

Main street in Franklin by Piccor
Main street in Franklin (CC BY-SA 3.0 DEED) by Piccor
  • Typical home value, Sept. 2022: $94,530 (state: $200,146)
  • Median household income: $33,390 (state: $53,571)
  • 1-yr. home value change: -5.6% (-$5,628)
  • Population: 6,811
  • 1-yr. population change: -0.5% (-33)
  • Region: Saint Mary Parish, Louisiana

41. Jennings, LA

Jennings Louisiana Carnegie Library 2019 by Larry D. Moore
Jennings Louisiana Carnegie Library 2019 (CC BY-SA 4.0 DEED) by Larry D. Moore
  • Typical home value, Sept. 2022: $94,506 (state: $200,146)
  • Median household income: $37,301 (state: $53,571)
  • 1-yr. home value change: +0.0% (-$07)
  • Population: 9,836
  • 1-yr. population change: -0.4% (-38)
  • Region: Jefferson Davis Parish, Louisiana

40. McComb, MS

WHITE-ALFORD HOUSE by Jerrye & Roy Klotz, MD
WHITE-ALFORD HOUSE (CC BY-SA 4.0 DEED) by Jerrye & Roy Klotz, MD
  • Typical home value, Sept. 2022: $92,949 (state: $176,568)
  • Median household income: $32,515 (state: $49,111)
  • 1-yr. home value change: -6.7% (-$6,714)
  • Population: 12,400
  • 1-yr. population change: -3.0% (-388)
  • Region: Pike County, Mississippi

39. Gadsden, AL

Historic downtown Gadsden, Alabama by Fu00e6
Historic downtown Gadsden, Alabama (CC0 1.0 DEED) by Fu00e6
  • Typical home value, Sept. 2022: $91,070 (state: $223,447)
  • Median household income: $35,776 (state: $54,943)
  • 1-yr. home value change: -7.2% (-$7,066)
  • Population: 34,317
  • 1-yr. population change: -2.6% (-907)
  • Region: Etowah County, Alabama

38. Vernon, TX

Source: TexasPixelPro / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $90,876 (state: $300,090)
  • Median household income: $43,338 (state: $67,321)
  • 1-yr. home value change: -6.1% (-$5,908)
  • Population: 10,206
  • 1-yr. population change: +1.3% (+128)
  • Region: Wilbarger County, Texas

37. Greenwood, MS

Source: BOB WESTON / iStock via Getty Images
  • Typical home value, Sept. 2022: $90,811 (state: $176,568)
  • Median household income: $28,221 (state: $49,111)
  • 1-yr. home value change: -6.0% (-$5,755)
  • Population: 14,521
  • 1-yr. population change: +5.0% (+695)
  • Region: Leflore County, Mississippi

36. Fairfield, AL

U. S. Steel Fairfield Works in Fairfield by Patriarca12
U. S. Steel Fairfield Works in Fairfield (CC BY-SA 3.0 DEED) by Patriarca12
  • Typical home value, Sept. 2022: $90,742 (state: $223,447)
  • Median household income: $43,914 (state: $54,943)
  • 1-yr. home value change: -3.9% (-$3,649)
  • Population: 10,108
  • 1-yr. population change: -6.0% (-641)
  • Region: Jefferson County, Alabama

35. Marion, SC

YH6L9818 by Brian Nolan
YH6L9818 (Public Domain) by Brian Nolan
  • Typical home value, Sept. 2022: $90,219 (state: $288,342)
  • Median household income: $27,024 (state: $58,234)
  • 1-yr. home value change: -2.3% (-$2,134)
  • Population: 6,472
  • 1-yr. population change: -1.9% (-126)
  • Region: Marion County, South Carolina

34. Pikeville, KY

Source: 6381380 / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $89,832 (state: $200,645)
  • Median household income: $41,094 (state: $55,454)
  • 1-yr. home value change: -10.1% (-$10,056)
  • Population: 7,376
  • 1-yr. population change: +11.1% (+734)
  • Region: Pike County, Kentucky

33. Robstown, TX

Source: Matt Pierce / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $89,453 (state: $300,090)
  • Median household income: $38,497 (state: $67,321)
  • 1-yr. home value change: -13.1% (-$13,494)
  • Population: 10,372
  • 1-yr. population change: -7.5% (-842)
  • Region: Nueces County, Texas

32. Bogalusa, LA

Source: BOB WESTON / iStock via Getty Images
  • Typical home value, Sept. 2022: $87,376 (state: $200,146)
  • Median household income: $32,613 (state: $53,571)
  • 1-yr. home value change: -17.7% (-$18,853)
  • Population: 10,921
  • 1-yr. population change: -6.3% (-737)
  • Region: Washington Parish, Louisiana

31. Raymondville, TX

Source: milehightraveler / iStock via Getty Images
  • Typical home value, Sept. 2022: $87,375 (state: $300,090)
  • Median household income: $39,291 (state: $67,321)
  • 1-yr. home value change: -8.5% (-$8,086)
  • Population: 10,574
  • 1-yr. population change: -3.4% (-376)
  • Region: Willacy County, Texas

30. Altus, OK

Jackson courthouse by Larry D. Moore
Jackson courthouse (CC BY-SA 3.0 DEED) by Larry D. Moore
  • Typical home value, Sept. 2022: $86,978 (state: $199,221)
  • Median household income: $52,085 (state: $56,956)
  • 1-yr. home value change: +2.3% (+$1,990)
  • Population: 18,825
  • 1-yr. population change: +1.6% (+292)
  • Region: Jackson County, Oklahoma

29. Crystal City, TX

Oasis Drive-In, Crystal City by Billy Hathorn
Oasis Drive-In, Crystal City (CC BY-SA 3.0 DEED) by Billy Hathorn
  • Typical home value, Sept. 2022: $86,954 (state: $300,090)
  • Median household income: $44,328 (state: $67,321)
  • 1-yr. home value change: -2.4% (-$2,108)
  • Population: 6,504
  • 1-yr. population change: -10.4% (-752)
  • Region: Zavala County, Texas

28. Borger, TX

Borger, TX Museum Boomtown Revisited Picture 2114 by Billy Hathorn
Borger, TX Museum Boomtown Revisited Picture 2114 (CC BY-SA 2.5) by Billy Hathorn
  • Typical home value, Sept. 2022: $86,628 (state: $300,090)
  • Median household income: $49,705 (state: $67,321)
  • 1-yr. home value change: -4.9% (-$4,430)
  • Population: 12,612
  • 1-yr. population change: +0.6% (+78)
  • Region: Hutchinson County, Texas

27. Childress, TX

Childress, Texas by Phillip Stewart
Childress, Texas (CC BY-SA 2.0) by Phillip Stewart
  • Typical home value, Sept. 2022: $86,418 (state: $300,090)
  • Median household income: $47,308 (state: $67,321)
  • 1-yr. home value change: -9.2% (-$8,745)
  • Population: 5,751
  • 1-yr. population change: -5.9% (-358)
  • Region: Childress County, Texas

26. Oakdale, LA

Leatherwood Museum in Oakdale, LA IMG 0157 by Hot Furnace
Leatherwood Museum in Oakdale, LA IMG 0157 (CC BY-SA 4.0) by Hot Furnace
  • Typical home value, Sept. 2022: $86,315 (state: $200,146)
  • Median household income: $38,482 (state: $53,571)
  • 1-yr. home value change: -9.4% (-$8,945)
  • Population: 7,092
  • 1-yr. population change: -6.3% (-479)
  • Region: Allen Parish, Louisiana

25. Pampa, TX

Source: BOB WESTON / iStock via Getty Images
  • Typical home value, Sept. 2022: $84,793 (state: $300,090)
  • Median household income: $48,010 (state: $67,321)
  • 1-yr. home value change: +6.0% (+$4,802)
  • Population: 16,817
  • 1-yr. population change: -2.4% (-409)
  • Region: Gray County, Texas

24. Dillon, SC

Hopewell United Methodist Chur... by Gerry Dincher
Hopewell United Methodist Chur... (CC BY-SA 2.0) by Gerry Dincher
  • Typical home value, Sept. 2022: $84,647 (state: $288,342)
  • Median household income: $42,822 (state: $58,234)
  • 1-yr. home value change: -10.8% (-$10,221)
  • Population: 6,354
  • 1-yr. population change: -0.1% (-04)
  • Region: Dillon County, South Carolina

23. Bennettsville, SC

Source: Public Domain / Wikimedia Commons
  • Typical home value, Sept. 2022: $84,469 (state: $288,342)
  • Median household income: $31,866 (state: $58,234)
  • 1-yr. home value change: -11.3% (-$10,810)
  • Population: 7,306
  • 1-yr. population change: -7.6% (-599)
  • Region: Marlboro County, South Carolina

22. Marlin, TX

St. Paul Church of Christ Marl... by Chris Gray
St. Paul Church of Christ Marl... (CC BY-SA 2.0) by Chris Gray
  • Typical home value, Sept. 2022: $83,191 (state: $300,090)
  • Median household income: $28,061 (state: $67,321)
  • 1-yr. home value change: -11.0% (-$10,260)
  • Population: 5,512
  • 1-yr. population change: -1.6% (-90)
  • Region: Falls County, Texas

21. Littlefield, TX

Source: AustinMirage / iStock via Getty Images
  • Typical home value, Sept. 2022: $82,479 (state: $300,090)
  • Median household income: $45,101 (state: $67,321)
  • 1-yr. home value change: -11.3% (-$10,552)
  • Population: 5,991
  • 1-yr. population change: +1.5% (+91)
  • Region: Lamb County, Texas

20. Lamesa, TX

Tower, Lamesa, Texas by Mobilus In Mobili
Tower, Lamesa, Texas (CC BY-SA 2.0) by Mobilus In Mobili
  • Typical home value, Sept. 2022: $81,698 (state: $300,090)
  • Median household income: $36,351 (state: $67,321)
  • 1-yr. home value change: -14.0% (-$13,301)
  • Population: 8,685
  • 1-yr. population change: -5.4% (-494)
  • Region: Dawson County, Texas

19. Midfield, AL

Source: Pgiam / iStock via Getty Images
  • Typical home value, Sept. 2022: $81,152 (state: $223,447)
  • Median household income: $46,929 (state: $54,943)
  • 1-yr. home value change: -1.3% (-$1,030)
  • Population: 5,219
  • 1-yr. population change: +4.7% (+235)
  • Region: Jefferson County, Alabama

18. Galliano, LA

Lafourche Parish Courthouse by Thibodaux
Lafourche Parish Courthouse (CC BY 2.0 DEED) by Thibodaux
  • Typical home value, Sept. 2022: $80,608 (state: $200,146)
  • Median household income: $50,344 (state: $53,571)
  • 1-yr. home value change: -29.2% (-$33,258)
  • Population: 7,378
  • 1-yr. population change: -1.8% (-136)
  • Region: Lafourche Parish, Louisiana

17. Pine Bluff, AR

Source: Public Domain / Wikimedia Commons
  • Typical home value, Sept. 2022: $80,178 (state: $200,795)
  • Median household income: $36,940 (state: $52,123)
  • 1-yr. home value change: +3.4% (+$2,643)
  • Population: 41,964
  • 1-yr. population change: -0.8% (-359)
  • Region: Jefferson County, Arkansas

16. Bastrop, LA

Farmers Market in Bastrop by Billy Hathorn
Farmers Market in Bastrop (CC BY-SA 3.0) by Billy Hathorn
  • Typical home value, Sept. 2022: $77,880 (state: $200,146)
  • Median household income: $23,955 (state: $53,571)
  • 1-yr. home value change: -8.2% (-$6,968)
  • Population: 9,879
  • 1-yr. population change: -1.8% (-181)
  • Region: Morehouse Parish, Louisiana

15. Newport, AR

Source: Roberto Galan / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $76,955 (state: $200,795)
  • Median household income: $33,948 (state: $52,123)
  • 1-yr. home value change: -5.2% (-$4,240)
  • Population: 7,829
  • 1-yr. population change: +3.7% (+277)
  • Region: Jackson County, Arkansas

14. Hope, AR

Source: Roberto Galan / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $75,806 (state: $200,795)
  • Median household income: $42,122 (state: $52,123)
  • 1-yr. home value change: +2.2% (+$1,657)
  • Population: 9,010
  • 1-yr. population change: -6.8% (-658)
  • Region: Hempstead County, Arkansas

13. Tuskegee, AL

Source: NNehring / iStock Unreleased via Getty Images
  • Typical home value, Sept. 2022: $74,780 (state: $223,447)
  • Median household income: $32,024 (state: $54,943)
  • 1-yr. home value change: -6.3% (-$4,986)
  • Population: 9,125
  • 1-yr. population change: +8.1% (+682)
  • Region: Macon County, Alabama

12. Blytheville, AR

Blytheville by William Allen, Image Historian
Blytheville (CC BY-SA 2.0) by William Allen, Image Historian
  • Typical home value, Sept. 2022: $73,787 (state: $200,795)
  • Median household income: $43,191 (state: $52,123)
  • 1-yr. home value change: -15.4% (-$13,454)
  • Population: 13,559
  • 1-yr. population change: -1.3% (-176)
  • Region: Mississippi County, Arkansas

11. Jackson, MS

Source: SeanPavonePhoto / iStock via Getty Images
  • Typical home value, Sept. 2022: $68,136 (state: $176,568)
  • Median household income: $39,969 (state: $49,111)
  • 1-yr. home value change: -19.8% (-$16,858)
  • Population: 156,803
  • 1-yr. population change: -4.3% (-6,975)
  • Region: Hinds County, Mississippi

10. Tarrant, AL

DOWNTOWN TARRANT CITY by Kylestonephotgraphy
DOWNTOWN TARRANT CITY (CC BY-SA 4.0 DEED) by Kylestonephotgraphy
  • Typical home value, Sept. 2022: $66,232 (state: $223,447)
  • Median household income: $36,927 (state: $54,943)
  • 1-yr. home value change: -6.2% (-$4,375)
  • Population: 6,137
  • 1-yr. population change: -1.3% (-79)
  • Region: Jefferson County, Alabama

9. Forrest City, AR

20160414... by Ardelta
20160414... (CC BY-SA 4.0) by Ardelta
  • Typical home value, Sept. 2022: $65,140 (state: $200,795)
  • Median household income: $33,229 (state: $52,123)
  • 1-yr. home value change: +6.5% (+$3,974)
  • Population: 13,372
  • 1-yr. population change: -4.9% (-690)
  • Region: Saint Francis County, Arkansas

8. Greenville, MS

Source: Geoff Eccles / iStock via Getty Images
  • Typical home value, Sept. 2022: $63,785 (state: $176,568)
  • Median household income: $32,066 (state: $49,111)
  • 1-yr. home value change: -18.4% (-$14,352)
  • Population: 30,175
  • 1-yr. population change: +1.1% (+321)
  • Region: Washington County, Mississippi

7. Yazoo City, MS

Welcome To Yazoo City sign by Chillin662
Welcome To Yazoo City sign (CC BY-SA 4.0 DEED) by Chillin662
  • Typical home value, Sept. 2022: $60,895 (state: $176,568)
  • Median household income: $30,092 (state: $49,111)
  • 1-yr. home value change: -19.0% (-$14,284)
  • Population: 10,887
  • 1-yr. population change: +0.7% (+81)
  • Region: Yazoo County, Mississippi

6. Selma, AL

Source: Jacqueline Nix / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $58,405 (state: $223,447)
  • Median household income: $29,656 (state: $54,943)
  • 1-yr. home value change: -2.5% (-$1,523)
  • Population: 18,429
  • 1-yr. population change: +3.8% (+667)
  • Region: Dallas County, Alabama

5. Anadarko, OK

Oklahoma - Anadarko - In... by Barbara Ann Spengler
Oklahoma - Anadarko - In... (CC BY 2.0) by Barbara Ann Spengler
  • Typical home value, Sept. 2022: $57,945 (state: $199,221)
  • Median household income: $44,203 (state: $56,956)
  • 1-yr. home value change: -7.4% (-$4,601)
  • Population: 6,182
  • 1-yr. population change: -6.3% (-418)
  • Region: Caddo County, Oklahoma

4. Blackwell, OK

OKLAHOMA by QuesterMark
OKLAHOMA (CC BY-SA 2.0) by QuesterMark
  • Typical home value, Sept. 2022: $56,899 (state: $199,221)
  • Median household income: $45,855 (state: $56,956)
  • 1-yr. home value change: +0.8% (+$426)
  • Population: 6,192
  • 1-yr. population change: -6.7% (-442)
  • Region: Kay County, Oklahoma

3. Holdenville, OK

Source: BOB WESTON / iStock via Getty Images
  • Typical home value, Sept. 2022: $51,046 (state: $199,221)
  • Median household income: $36,300 (state: $56,956)
  • 1-yr. home value change: -6.4% (-$3,499)
  • Population: 5,753
  • 1-yr. population change: +1.6% (+91)
  • Region: Hughes County, Oklahoma

2. Clarksdale, MS

Source: Kirkikis / iStock Editorial via Getty Images
  • Typical home value, Sept. 2022: $44,399 (state: $176,568)
  • Median household income: $30,711 (state: $49,111)
  • 1-yr. home value change: -18.8% (-$10,259)
  • Population: 15,124
  • 1-yr. population change: -1.4% (-218)
  • Region: Coahoma County, Mississippi

1. Prichard, AL

Former City Hall, Prichard by Michael Rivera
Former City Hall, Prichard (CC BY-SA 4.0) by Michael Rivera
  • Typical home value, Sept. 2022: $43,024 (state: $223,447)
  • Median household income: $32,900 (state: $54,943)
  • 1-yr. home value change: -0.9% (-$377)
  • Population: 19,645
  • 1-yr. population change: -9.1% (-1,973)
  • Region: Mobile County, Alabama

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Read more: Special Report, best housing markets in the south, best places for new home buyers, census acs, cheapest towns for homeowners in the south, most affordable housing markets in the south, southern towns with cheapest homes, zillow, Housing

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