Special Report

Every State's Cheapest Housing Market

24/7 Wall St. Staff

Published: January 16, 2024 8:00 am

Housing markets are known to rise and fall as real estate markets fluctuate continuously. Numerous times throughout history saw significant drops and increases in home prices, from the Great Depression of the 1930s to the market crash during the 2008 housing bubble. More recently, the market saw a softening as a result of the coronavirus pandemic, which had a profound impact on the U.S. housing market.

As Americans fled expensive, high-population areas to mid-sized cities or adjoining suburbs in lower-cost parts of the country, certain areas fared better than others. (See how the cost of housing has skyrocketed in these major U.S. cities.)Low mortgage rates and high demand for homes in many markets — coupled with a slowdown in new home construction due to pandemic-related disruptions in the labor force and supply chains —  often led to intense bidding wars over available homes among prospective buyers. How the times have changed.

2023 brought with it a considerable slowdown in the once piping-hot U.S. residential real estate market. Rising interest rates and an unwillingness by potential sellers to give up their low-rate mortgages have chilled the home-buying frenzy of the previous two years. According to a Washington Post analysis of home value data, even in hot, high-cost markets like Austin, Texas, and San Francisco, home prices have dropped by 10% over the past year.

However, buying a home is still within reach for people with even modest incomes in certain cities. You may not find yourself in an Austin-area suburban McMansion or a townhouse in San Francisco’s Mission District, but the dream of homeownership can still be within reach. 

24/7 Wall St. reviewed data on the median list price of homes on the market in April 2023 with data from realtor.com, a real estate market website to identify the city in each state with the lowest homeownership costs. With median list price data for over 900 U.S. metro areas, we identified the city in each state with the lowest median list price. 

Median list price among the 50 cities and towns – each the cheapest in its state with the lowest homeownership costs – ranges from $55,000 in Clarksdale, Mississippi, to $645,000 in Hilo, Hawaii. All but two of the cities on the list have median list prices cheaper than the national median of $430,000 in April 2023. 

The list price declined in 18 of the cities listed, compared to April last year, and in all but one city the median list price is lower than the state media. In Providence-Warwick, Rhode Island, which is listed here by default only as it is the only city with data in the state, the median list price is $529,900, more than the median in Rhode Island of $525,500.

In 26 cities, the median list price is less than half the median price statewide, with the median in Olean, New York, not even 20% of the median across New York state, at $125,000 and $639,945, respectively. Though these cities have the cheapest list price in their state, in the vast majority, these median prices fetch smaller homes than the median prices statewide would. Here is how much home you can buy for $200k in each state.

Here is the city in each state with the lowest homeownership costs.

See below for our detailed methodology.

Alabama: Selma

Source: Jacqueline Nix / iStock Editorial via Getty Images

• Median list price, April 2023: $75,500 (Alabama: $330,000)
• Year-over-year change in median list price: -5.6% (Alabama: +10.0%)
• Median size of home on market: 1,682 sq. ft. (Alabama: 1,994 sq. ft.)
• Num. of homes on the market in city: 67
• Cities considered in state: 25

Alaska: Fairbanks

Source: lippyjr / iStock Editorial via Getty Images

• Median list price, April 2023: $349,900 (Alaska: $415,000)
• Year-over-year change in median list price: +6.0% (Alaska: +3.8%)
• Median size of home on market: 1,796 sq. ft. (Alaska: 1,850 sq. ft.)
• Num. of homes on the market in city: 133
• Cities considered in state: 4

Arizona: Safford

Source: BOB WESTON / iStock via Getty Images

• Median list price, April 2023: $302,500 (Arizona: $495,000)
• Year-over-year change in median list price: +8.1% (Arizona: -0.8%)
• Median size of home on market: 1,900 sq. ft. (Arizona: 1,956 sq. ft.)
• Num. of homes on the market in city: 39
• Cities considered in state: 11

Arkansas: Hope

Source: Roberto Galan / iStock Editorial via Getty Images

• Median list price, April 2023: $119,000 (Arkansas: $289,900)
• Year-over-year change in median list price: -14.3% (Arkansas: +16.2%)
• Median size of home on market: 1,611 sq. ft. (Arkansas: 1,908 sq. ft.)
• Num. of homes on the market in city: 69
• Cities considered in state: 21

California: Susanville

Source: Meghan Bennett / iStock via Getty Images

• Median list price, April 2023: $308,950 (California: $750,000)
• Year-over-year change in median list price: -0.3% (California: -1.3%)
• Median size of home on market: 1,623 sq. ft. (California: 1,805 sq. ft.)
• Num. of homes on the market in city: 76
• Cities considered in state: 34

Colorado: Sterling

Source: Public Domain / Wikimedia Commons

• Median list price, April 2023: $245,000 (Colorado: $639,925)
• Year-over-year change in median list price: +24.2% (Colorado: +1.6%)
• Median size of home on market: 1,506 sq. ft. (Colorado: 2,214 sq. ft.)
• Num. of homes on the market in city: 56
• Cities considered in state: 17

Connecticut: Hartford-East Hartford-Middletown

Source: SeanPavonePhoto / iStock via Getty Images

• Median list price, April 2023: $399,900 (Connecticut: $559,900)
• Year-over-year change in median list price: +14.3% (Connecticut: +20.4%)
• Median size of home on market: 1,984 sq. ft. (Connecticut: 2,184 sq. ft.)
• Num. of homes on the market in city: 839
• Cities considered in state: 5

Delaware: Dover

Source: traveler1116 / iStock via Getty Images

• Median list price, April 2023: $409,500 (Delaware: $494,900)
• Year-over-year change in median list price: +1.9% (Delaware: +8.7%)
• Median size of home on market: 2,016 sq. ft. (Delaware: 2,180 sq. ft.)
• Num. of homes on the market in city: 281
• Cities considered in state: 1

Florida: Sebring-Avon Park

Sebring Train Station from NW (CC BY-SA 4.0) by Jhw57

• Median list price, April 2023: $295,000 (Florida: $467,990)
• Year-over-year change in median list price: +5.4% (Florida: -0.2%)
• Median size of home on market: 1,550 sq. ft. (Florida: 1,704 sq. ft.)
• Num. of homes on the market in city: 492
• Cities considered in state: 29

Georgia: Thomaston

Source: LCBallard / iStock via Getty Images

• Median list price, April 2023: $183,700 (Georgia: $395,400)
• Year-over-year change in median list price: -14.6% (Georgia: +4.3%)
• Median size of home on market: 1,535 sq. ft. (Georgia: 2,184 sq. ft.)
• Num. of homes on the market in city: 69
• Cities considered in state: 37

Hawaii: Hilo

Source: steinphoto / iStock via Getty Images

• Median list price, April 2023: $645,000 (Hawaii: $852,500)
• Year-over-year change in median list price: +25.2% (Hawaii: +3.3%)
• Median size of home on market: 1,479 sq. ft. (Hawaii: 1,251 sq. ft.)
• Num. of homes on the market in city: 661
• Cities considered in state: 4

Idaho: Mountain Home

Source: 39955793@N07 / Flickr

• Median list price, April 2023: $375,000 (Idaho: $574,900)
• Year-over-year change in median list price: -11.7% (Idaho: -4.0%)
• Median size of home on market: 1,744 sq. ft. (Idaho: 2,208 sq. ft.)
• Num. of homes on the market in city: 56
• Cities considered in state: 13

Illinois: Macomb

Source: BOB WESTON / Getty Images

• Median list price, April 2023: $69,900 (Illinois: $310,000)
• Year-over-year change in median list price: +24.8% (Illinois: +7.8%)
• Median size of home on market: 1,320 sq. ft. (Illinois: 1,708 sq. ft.)
• Num. of homes on the market in city: 64
• Cities considered in state: 26

Indiana: Marion

Source: Roberto Galan / iStock Editorial via Getty Images

• Median list price, April 2023: $92,500 (Indiana: $299,900)
• Year-over-year change in median list price: +22.5% (Indiana: +15.4%)
• Median size of home on market: 1,500 sq. ft. (Indiana: 1,963 sq. ft.)
• Num. of homes on the market in city: 58
• Cities considered in state: 38

Iowa: Fort Madison-Keokuk

Source: Public Domain / Wikimedia Commons

• Median list price, April 2023: $125,000 (Iowa: $315,000)
• Year-over-year change in median list price: +8.5% (Iowa: +15.9%)
• Median size of home on market: 1,472 sq. ft. (Iowa: 1,624 sq. ft.)
• Num. of homes on the market in city: 96
• Cities considered in state: 23

Kansas: Atchison

Atchison Kansas Commercial Street (CC BY-SA 3.0) by Tim Kiser

• Median list price, April 2023: $120,000 (Kansas: $314,825)
• Year-over-year change in median list price: -11.1% (Kansas: +26.0%)
• Median size of home on market: 1,756 sq. ft. (Kansas: 2,098 sq. ft.)
• Num. of homes on the market in city: 16
• Cities considered in state: 19

Kentucky: Maysville

20220304 20 Maysville, Kentuck... (CC BY 2.0) by David Wilson

• Median list price, April 2023: $92,500 (Kentucky: $299,950)
• Year-over-year change in median list price: -38.8% (Kentucky: +15.4%)
• Median size of home on market: 1,374 sq. ft. (Kentucky: 1,910 sq. ft.)
• Num. of homes on the market in city: 15
• Cities considered in state: 21

Louisiana: Minden

Revised copy, Minden... (CC BY-SA 3.0) by Billy Hathorn

• Median list price, April 2023: $140,000 (Louisiana: $289,250)
• Year-over-year change in median list price: -10.8% (Louisiana: +0.8%)
• Median size of home on market: 1,625 sq. ft. (Louisiana: 1,890 sq. ft.)
• Num. of homes on the market in city: 64
• Cities considered in state: 18

Maine: Bangor

Source: DenisTangneyJr / iStock via Getty Images

• Median list price, April 2023: $265,000 (Maine: $425,000)
• Year-over-year change in median list price: +10.7% (Maine: +11.6%)
• Median size of home on market: 1,680 sq. ft. (Maine: 1,700 sq. ft.)
• Num. of homes on the market in city: 167
• Cities considered in state: 4

Maryland: Cumberland

Source: DenisTangneyJr / iStock via Getty Images

• Median list price, April 2023: $139,900 (Maryland: $420,000)
• Year-over-year change in median list price: +11.9% (Maryland: +10.5%)
• Median size of home on market: 1,592 sq. ft. (Maryland: 1,906 sq. ft.)
• Num. of homes on the market in city: 142
• Cities considered in state: 7

Massachusetts: Springfield

Source: Sean Pavone / iStock via Getty Images

• Median list price, April 2023: $369,000 (Massachusetts: $759,000)
• Year-over-year change in median list price: +3.8% (Massachusetts: +11.6%)
• Median size of home on market: 1,708 sq. ft. (Massachusetts: 1,852 sq. ft.)
• Num. of homes on the market in city: 437
• Cities considered in state: 6

Michigan: Saginaw

Source: DenisTangneyJr / iStock via Getty Images

• Median list price, April 2023: $149,000 (Michigan: $280,000)
• Year-over-year change in median list price: +1.8% (Michigan: +8.1%)
• Median size of home on market: 1,552 sq. ft. (Michigan: 1,603 sq. ft.)
• Num. of homes on the market in city: 185
• Cities considered in state: 31

Minnesota: Marshall

Source: Jacob Boomsma / iStock via Getty Images

• Median list price, April 2023: $186,185 (Minnesota: $400,000)
• Year-over-year change in median list price: +20.1% (Minnesota: +5.8%)
• Median size of home on market: 1,739 sq. ft. (Minnesota: 2,005 sq. ft.)
• Num. of homes on the market in city: 24
• Cities considered in state: 22

Mississippi: Clarksdale

Juke Joint Festival (CC BY-SA 2.0) by Peter Burka

• Median list price, April 2023: $55,000 (Mississippi: $279,900)
• Year-over-year change in median list price: -38.9% (Mississippi: +9.8%)
• Median size of home on market: 1,557 sq. ft. (Mississippi: 2,023 sq. ft.)
• Num. of homes on the market in city: 26
• Cities considered in state: 22

Missouri: Kennett

Source: BOB WESTON / iStock via Getty Images

• Median list price, April 2023: $102,200 (Missouri: $300,000)
• Year-over-year change in median list price: +27.8% (Missouri: +11.2%)
• Median size of home on market: 1,562 sq. ft. (Missouri: 1,805 sq. ft.)
• Num. of homes on the market in city: 62
• Cities considered in state: 25

Montana: Butte-Silver Bow

Source: csfotoimages / iStock Editorial via Getty Images

• Median list price, April 2023: $373,000 (Montana: $660,000)
• Year-over-year change in median list price: +13.4% (Montana: +7.8%)
• Median size of home on market: 1,875 sq. ft. (Montana: 2,162 sq. ft.)
• Num. of homes on the market in city: 68
• Cities considered in state: 7

Nebraska: Scottsbluff

Source: marekuliasz / iStock via Getty Images

• Median list price, April 2023: $254,950 (Nebraska: $371,900)
• Year-over-year change in median list price: +4.1% (Nebraska: +24.0%)
• Median size of home on market: 1,447 sq. ft. (Nebraska: 2,213 sq. ft.)
• Num. of homes on the market in city: 64
• Cities considered in state: 12

Nevada: Fallon

Source: BOB WESTON / iStock via Getty Images

• Median list price, April 2023: $386,780 (Nevada: $475,000)
• Year-over-year change in median list price: +1.8% (Nevada: -5.0%)
• Median size of home on market: 1,660 sq. ft. (Nevada: 1,910 sq. ft.)
• Num. of homes on the market in city: 33
• Cities considered in state: 9

New Hampshire: Berlin

Source: Public Domain / Wikimedia Commons

• Median list price, April 2023: $249,991 (New Hampshire: $549,000)
• Year-over-year change in median list price: +12.1% (New Hampshire: +15.6%)
• Median size of home on market: 1,606 sq. ft. (New Hampshire: 1,922 sq. ft.)
• Num. of homes on the market in city: 72
• Cities considered in state: 6

New Jersey: Vineland-Bridgeton

Source: AUDREY SCRIPP / iStock via Getty Images

• Median list price, April 2023: $269,900 (New Jersey: $518,000)
• Year-over-year change in median list price: +35.0% (New Jersey: +12.9%)
• Median size of home on market: 1,497 sq. ft. (New Jersey: 1,724 sq. ft.)
• Num. of homes on the market in city: 180
• Cities considered in state: 4

New Mexico: Deming

Source: BOB WESTON / Getty Images

• Median list price, April 2023: $189,000 (New Mexico: $375,000)
• Year-over-year change in median list price: +22.0% (New Mexico: +8.7%)
• Median size of home on market: 1,800 sq. ft. (New Mexico: 1,993 sq. ft.)
• Num. of homes on the market in city: 34
• Cities considered in state: 19

New York: Olean

Source: J. Michael Jones / iStock Editorial via Getty Images

• Median list price, April 2023: $125,000 (New York: $639,945)
• Year-over-year change in median list price: +0.1% (New York: +6.7%)
• Median size of home on market: 1,438 sq. ft. (New York: 1,560 sq. ft.)
• Num. of homes on the market in city: 96
• Cities considered in state: 27

North Carolina: Laurinburg

Laurinburg First Methodist (CC BY-SA 2.0) by Gerry Dincher

• Median list price, April 2023: $209,450 (North Carolina: $419,720)
• Year-over-year change in median list price: +43.8% (North Carolina: +6.3%)
• Median size of home on market: 2,039 sq. ft. (North Carolina: 2,075 sq. ft.)
• Num. of homes on the market in city: 30
• Cities considered in state: 37

North Dakota: Jamestown

Frontier Village, Jamestown, N... (CC BY-SA 2.0) by Haydn Blackey

• Median list price, April 2023: $179,900 (North Dakota: $332,060)
• Year-over-year change in median list price: -15.1% (North Dakota: +10.7%)
• Median size of home on market: 1,834 sq. ft. (North Dakota: 2,118 sq. ft.)
• Num. of homes on the market in city: 23
• Cities considered in state: 8

Ohio: Portsmouth

Source: 6381380 / iStock Editorial via Getty Images

• Median list price, April 2023: $129,500 (Ohio: $249,900)
• Year-over-year change in median list price: -19.1% (Ohio: +19.0%)
• Median size of home on market: 1,440 sq. ft. (Ohio: 1,720 sq. ft.)
• Num. of homes on the market in city: 83
• Cities considered in state: 42

Oklahoma: Miami

Miami, Oklahoma, USA (CC BY-SA 2.0) by Pom'

• Median list price, April 2023: $147,000 (Oklahoma: $315,000)
• Year-over-year change in median list price: +84.0% (Oklahoma: +26.0%)
• Median size of home on market: 1,447 sq. ft. (Oklahoma: 1,960 sq. ft.)
• Num. of homes on the market in city: 48
• Cities considered in state: 21

Oregon: Hermiston-Pendleton

Pendleton, OR - looking south on SE 2nd St from SE Court Ave 01 (CC BY-SA 3.0) by Joe Mabel

• Median list price, April 2023: $355,000 (Oregon: $569,900)
• Year-over-year change in median list price: -3.4% (Oregon: +3.6%)
• Median size of home on market: 1,854 sq. ft. (Oregon: 1,892 sq. ft.)
• Num. of homes on the market in city: 169
• Cities considered in state: 20

Pennsylvania: Johnstown

Source: WilliamSherman / iStock via Getty Images

• Median list price, April 2023: $98,500 (Pennsylvania: $290,000)
• Year-over-year change in median list price: +15.9% (Pennsylvania: +2.6%)
• Median size of home on market: 1,585 sq. ft. (Pennsylvania: 1,696 sq. ft.)
• Num. of homes on the market in city: 125
• Cities considered in state: 35

Rhode Island: Providence-Warwick

Source: SeanPavonePhoto / iStock via Getty Images

• Median list price, April 2023: $529,900 (Rhode Island: $525,500)
• Year-over-year change in median list price: +11.6% (Rhode Island: +14.5%)
• Median size of home on market: 1,664 sq. ft. (Rhode Island: 1,605 sq. ft.)
• Num. of homes on the market in city: 1,220
• Cities considered in state: 1

South Carolina: Bennettsville

Source: Public Domain / Wikimedia Commons

• Median list price, April 2023: $127,170 (South Carolina: $359,925)
• Year-over-year change in median list price: -12.3% (South Carolina: +3.4%)
• Median size of home on market: 1,736 sq. ft. (South Carolina: 1,987 sq. ft.)
• Num. of homes on the market in city: 22
• Cities considered in state: 16

South Dakota: Vermillion

Source: BOB WESTON / iStock via Getty Images

• Median list price, April 2023: $199,900 (South Dakota: $369,900)
• Year-over-year change in median list price: -38.8% (South Dakota: +13.8%)
• Median size of home on market: 1,947 sq. ft. (South Dakota: 1,829 sq. ft.)
• Num. of homes on the market in city: 11
• Cities considered in state: 11

Tennessee: Union City

Source: Public Domain / Wikimedia Commons

• Median list price, April 2023: $187,000 (Tennessee: $444,900)
• Year-over-year change in median list price: +29.0% (Tennessee: +11.5%)
• Median size of home on market: 1,549 sq. ft. (Tennessee: 2,106 sq. ft.)
• Num. of homes on the market in city: 42
• Cities considered in state: 27

Texas: Vernon

Source: TexasPixelPro / iStock Editorial via Getty Images

• Median list price, April 2023: $109,250 (Texas: $384,900)
• Year-over-year change in median list price: -18.4% (Texas: +4.1%)
• Median size of home on market: 1,456 sq. ft. (Texas: 2,043 sq. ft.)
• Num. of homes on the market in city: 19
• Cities considered in state: 71

Utah: Price

j.c. penny company (CC BY 2.0) by Steven Damron

• Median list price, April 2023: $414,000 (Utah: $619,900)
• Year-over-year change in median list price: +56.2% (Utah: -3.1%)
• Median size of home on market: 1,753 sq. ft. (Utah: 2,582 sq. ft.)
• Num. of homes on the market in city: 62
• Cities considered in state: 9

Vermont: Rutland

Source: DenisTangneyJr / iStock via Getty Images

• Median list price, April 2023: $275,000 (Vermont: $447,250)
• Year-over-year change in median list price: -17.9% (Vermont: +12.1%)
• Median size of home on market: 1,872 sq. ft. (Vermont: 1,898 sq. ft.)
• Num. of homes on the market in city: 99
• Cities considered in state: 4

Virginia: Big Stone Gap

Source: Joshua Moore / iStock via Getty Images

• Median list price, April 2023: $154,500 (Virginia: $449,000)
• Year-over-year change in median list price: +10.4% (Virginia: +8.2%)
• Median size of home on market: 1,736 sq. ft. (Virginia: 2,061 sq. ft.)
• Num. of homes on the market in city: 66
• Cities considered in state: 12

Washington: Moses Lake

Moses Lake (CC BY 2.0) by Chris Phan

• Median list price, April 2023: $383,700 (Washington: $649,000)
• Year-over-year change in median list price: -0.9% (Washington: +1.6%)
• Median size of home on market: 1,617 sq. ft. (Washington: 2,048 sq. ft.)
• Num. of homes on the market in city: 171
• Cities considered in state: 20

West Virginia: Mount Gay-Shamrock

Logan-County-Courthouse-wv (CC BY 4.0) by Brian Stansberry

• Median list price, April 2023: $105,000 (West Virginia: $229,900)
• Year-over-year change in median list price: -17.3% (West Virginia: +15.5%)
• Median size of home on market: 1,800 sq. ft. (West Virginia: 1,775 sq. ft.)
• Num. of homes on the market in city: 27
• Cities considered in state: 13

Wisconsin: Marinette

Source: Michael-Tatman / iStock via Getty Images

• Median list price, April 2023: $222,400 (Wisconsin: $374,900)
• Year-over-year change in median list price: +23.6% (Wisconsin: +15.4%)
• Median size of home on market: 1,568 sq. ft. (Wisconsin: 1,805 sq. ft.)
• Num. of homes on the market in city: 86
• Cities considered in state: 23

Wyoming: Rock Springs

RockSpringsWY (CC BY-SA 4.0) by Vasiliymeshko

• Median list price, April 2023: $291,000 (Wyoming: $459,000)
• Year-over-year change in median list price: +22.3% (Wyoming: +22.4%)
• Median size of home on market: 2,224 sq. ft. (Wyoming: 2,376 sq. ft.)
• Num. of homes on the market in city: 56
• Cities considered in state: 9

Methodology

24/7 Wall St. reviewed data on the median list price of homes on the market in April 2023 with data from realtor.com, a real estate market website to identify the cheapest city to buy a home in every state. With median list price data for over 900 U.S. metro areas, we identified the city in each state with the lowest median list price. 

Supplementary data on year-over-year change in median list price, median home size, the number of homes on the market, and all state-level data are also from realtor.com. 

Both Delaware and Rhode Island only had one city with data on realtor.com. For both of those states, the city listed ranks as the cheapest place to buy a home by default only.