1. Louisiana
Louisiana’s housing market is uniquely affordable, with deals particularly in smaller towns and regions away from New Orleans. However, buyers should consider the risks of hurricanes and flooding, which can drive down home values in certain areas.
2. West Virginia
West Virginia often tops the list for the cheapest homes in the U.S. Why? The state’s rugged terrain and reliance on industries like coal mining have resulted in a stagnant economy in many areas. This lack of economic growth keeps home prices low, with the median home price hovering below $150,000.
3. Mississippi
Mississippi’s real estate market is known for its affordability. The state has a low cost of living overall, but its struggling job market and below-average wages also play a role. If you’re okay with rural living or small towns, you can snag a house here for a fraction of what you’d pay elsewhere.
4. Arkansas
Affordable housing in Arkansas is often tied to its small towns and modest economic opportunities outside of cities like Little Rock or Fayetteville. However, some of these low prices may come with a catch: outdated homes in need of serious renovation.
5. Alabama
Alabama is another Southern state where real estate seems too cheap to be true. With its mild winters and strong sense of community, you might wonder why housing is so affordable. It’s partly due to a slower rate of urban development compared to other states, keeping demand low in many areas.
6. Oklahoma
Oklahoma’s housing prices stay low thanks to a combination of abundant land, a low population density, and a reliance on oil and agriculture. While the cities of Oklahoma City and Tulsa are growing, you’ll find incredibly cheap properties in smaller towns across the state.
7. Indiana
If you’re looking for affordability in the Midwest, Indiana delivers. The Hoosier State has relatively stable housing prices, but the low cost of homes in rural areas is largely tied to a slow population growth rate. You’ll find excellent deals, though some regions may lack the amenities of larger metropolitan areas.
8. Kentucky
Known for its rolling hills and bourbon, Kentucky also boasts some of the cheapest homes in the country. The affordability is partly due to the state’s rural landscape and limited urban sprawl. If you don’t mind living off the beaten path, this state offers serious bargains.
9. Michigan
Michigan’s low home prices are often linked to its history of economic highs and lows. The decline of the auto industry left parts of the state, particularly Detroit, with a glut of empty homes. While some cities are rebounding, there are still many affordable opportunities to be found.
10. Missouri
Missouri combines Midwestern charm with low housing prices. While Kansas City and St. Louis are pricier, smaller towns and rural areas offer surprisingly cheap homes. Many properties reflect the state’s history, but be prepared for older buildings in need of updates.
11. Kansas
Kansas’ wide-open spaces and low population density contribute to its inexpensive real estate. Agriculture is a major industry here, and many rural areas have seen little development in decades, keeping prices incredibly low.
12. Pennsylvania
While Philadelphia and Pittsburgh can be pricey, much of Pennsylvania offers bargain real estate. This affordability is especially evident in old mining towns and rural areas, where populations have shrunk over the years, leaving a surplus of homes on the market.
13. North Dakota
North Dakota might surprise you with its cheap homes, given the oil boom that brought prosperity to parts of the state. Outside of cities like Fargo, however, the rural areas remain affordable due to their remoteness and harsh winters, which deter many buyers.
14. Iowa
Finally, Iowa rounds out our list with some of the most affordable homes in the Midwest. Known for its agriculture and small-town charm, the state’s housing market stays cheap thanks to its steady—but not explosive—economic growth. You’ll find plenty of bang for your buck here.
