10 Cheapest Cities in the United States to Buy a House. Specifically, we considered the percentage of homes with at least two bedrooms, the five-year change in homeownership rate, two affordability metrics and three livability statistics. We picked the best of those in the sweet spot. We may earn commission on some of the items you choose to buy. County Health Rankings data shows that 96.80% of students in the area graduate high school, the best rate for this metric in our study. 1) Deerfield Beach. And we think those numbers scream buy, don't rent. In the city of Youngstown, the median home price is less than $40,000, so there are plenty of neighborhoods where deals can be found. Necessary cookies are absolutely essential for the website to function properly. In San Francisco, the median home costs more than $1.3 million.In New York City, it goes for nearly $700,000.Even the national median is … Looking for an affordable house? 1. Arlington, Texas ranks the second-best in our top 10 and 15th best overall for its down payment-to-income ratio, at 0.60. Cheapest place to buy a house in the UK The average house price in the UK is £230,332 as of February 2020, but that’s just an average, and you can find homes far cheaper all over the country. It’s more expensive to be a renter than a homeowner in Deerfield. Major industries include aerospace, transportation, manufacturing, and financial services. We also use third-party cookies that help us analyze and understand how you use this website. You can find homes in several neighborhoods that can be purchased for less than $40,000, including Forest Hills, which was part of the former 700-acre estate of oil baron John D. Rockefeller. The area also has the third-highest high school graduation rate, at 93.10%, and the 21st-lowest property crime rate in the study. When you buy a home in Iowa, you buy a bit of America’s heartland. Homes in the city hit a median price of $55,600, and several neighborhoods fall well below that line. Plano is the second-highest ranking Texas city in our study, following Arlington. The city's cost of living stands 14% below the U.S. average, led by comparatively cheap housing costs. The city has a median price of $74,600. But opting out of some of these cookies may have an effect on your browsing experience. Unlike other areas across the country, the city’s home prices haven’t started turning around yet, with a median price of just under $50,000. Most have hundreds of houses priced below $40,000, according to real estate research firm Zillow. It must be a good sign when the cheapest city to live in Texas is named Pecos. Check Out: Top Housing Markets to … Ever wonder about the cheapest place to buy a house in Canada? Between 2014 and 2018, the homeownership rate increased by two percentage points. Additionally, families looking to settle down will want to have a good understanding of whether an area is safe and what school options are available there. Compare the Top 3 Financial Advisors For You. Questions about our study? 2020 Best Cities to Buy a House; Review Your Area 1 of 6. Although you may not be situated in an urban centre or your home could use a little TLC, there's no denying the attractive price tags on these 12 properties in various parts of the country. The 5 Cheapest Cities to Buy a House (Especially If You're Eyeing Foreclosures) Nov 08, 2020 by Aly J. Yale Get our 43-Page Guide to Real Estate Investing Today! Additionally, the city ranks in the top 25 of all 100 cities we considered for its high percentage of homes with at least two bedrooms (98.7%) and its low housing costs as a percentage of income (22.33%). This website uses cookies to improve your experience while you navigate through the website. What’s even more interesting is that, despite these incredibly low housing prices statewide, many home seekers are choosing to rent instead of buy. That 7.86% increase is the largest in the study. These cookies do not store any personal information. SF’s cheapest place to buy was in Bayview, with a median price of $994,500 making it the only San Francisco neighborhood still averaging less than a $1 million for a house. With such an expensive real estate market, buying a condo, apartment, house, or into a co-op in New York City may seem beyond the realm of possibility. Specifically, we considered the percentage of homes with at least two bedrooms, the five-year change in homeownership rate, two affordability metrics and three livability statistics. There's always Buffalo, one of the markets with the cheapest homes in the U.S., but there's a catch -- you could be buried under eight feet of snow. Saint John: 4 (average home price: $171,596, median one-person income: $39,163) Ask our Home Buying expert. Home prices in Florida, Clearwater, and Saint Petersburg have risen more than 10 percent over the last year. Some neighborhoods remain still super-cheap, with homes going for much less than the $120,000 median, but prices are rapidly increasing. It’s the same bricks and mortar – just with a different postcode. It borders five protected areas, … But there are still plenty of neighborhoods, particularly in the Saint Petersburg area, where homes sell for less than $40,000. You’ll find these low prices in cities on California’s coast, inland cities, and suburbs of larger cities. Chesapeake, Virginia ranks in the top fourth of cities for five of the seven metrics in our study. 10 cheapest U.S. cities for buying a home. Our data shows that Gilbert has the fourth- and second-lowest property and violent crime rates, respectively, of all 100 cities in our study. Toledo, Ohio. In this study, SmartAsset identified some of the best cities to buy an affordable family home. Virginia Beach also ranks in the top 10% of cities for the following metrics: percentage of homes with at least two bedrooms and high school graduation rate. While houses in California’s major cities can get a bit pricey, there are plenty of smaller towns and cities where the cost of living is lower. Go ahead, eat that avocado toast! First up is this quaint little dwelling in Gundagai, which sits on an elevated residential block covering 2023m². In a ranking of 10 to 1, we have provided a brief overview of the UK’s cheapest cities for buying a home: 10. Like in Gilbert, Arizona, crime rates in Virginia Beach, Virginia are relatively low. In the five-year period from 2014 through 2018, the homeownership rate in Chandler, Arizona rose by more than seven percentage points, from 57.95% in 2014 to 65.81% in 2018. Finding a home to fit a family can be a difficult task. 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2020 cheapest city to buy a house