Devin Jacobs
With the U.S. average home value at $362,481, having risen 3.3% over the last year, finding a home under $100,000 may seem challenging. However, GOBankingRates analyzed data to reveal 15 large housing markets with affordable homes. These cities provide cost-effective options and a high quality of life, which position them as prime spots for savvy buyers looking for great deals.
Cincinnati, Ohio
Securing a home under $100,000 is an easy option in Cincinnati, where 6.72% of the listings meet this price range. Investors and first-time home seekers have 79 homes to explore, all in a city with a reputation for economical living and strong job growth. Few places compare to Cincinnati’s mix of accessible housing and growth potential.
Kansas City, Missouri
Affordability remains a key attraction in Kansas City, where 7.05% of active listings are priced under $100,000. With 118 homes in this price range, prospective owners can identify wallet-conscious options without sacrificing access to artistic amenities. Kansas City offers both financial viability and vibrant urban life.
Philadelphia, Pennsylvania
Despite being a major city, Philadelphia provides avenues for homebuyers, with 7.07% of listings under $100,000. Presently, 27 homes are available at this price, making it one of the more affordable large cities for first-time investors or those looking to invest in real estate.
Baton Rouge, Louisiana
In Baton Rouge, 7.48% of homes are listed under $100,000, presenting an inexpensive housing market in this southern city. With 101 homes available at this price point, prospective buyers can find possibilities that are light on the pocket in a city noted for its dynamic culture and history.
Louisville, Kentucky
House hunters will find a welcoming property sector in Louisville, where 8.7% of listings are priced below $100,000. The city has 165 cost-effective homes available, offering a desirable option for those looking to establish themselves in a place renowned for its welcoming neighborhoods and affordable lifestyle.
Chicago, Illinois
Chicago’s economic real estate sector stands out, with 9.44% of its homes valued at under $100,000. Two hundred ninety-nine homes are currently available, presenting prospects for buyers who want to live in one of the nation’s largest cities without the high price tag typically associated with urban areas.
Pittsburgh, Pennsylvania
Finding a home in Pittsburgh under $100,000 is achievable, as 15.40% of the market is priced within that range. Property hunters have 314 homes in this price range, making the city a solid option for those wanting to buy a home while enjoying Pittsburgh’s arts and cultural scene.
Buffalo, New York
More than 21% of Buffalo’s homes are listed for under $100,000. Affordable housing options include 108 homes, allowing buyers to secure property in upstate New York, a region celebrated for its strong community and closeness to natural wonders like Niagara Falls.
Memphis, Tennessee
Low-cost housing choices are plentiful, with 23.51% of listings priced below $100,000. With 453 homes on the market, prospective owners can consider a variety of budget-friendly properties. The rich musical heritage and Southern charm make this city ideal for those wanting a culturally diverse lifestyle.
Milwaukee, Wisconsin
Nearly a quarter of the housing market in Milwaukee is priced under $100,000. With 153 homes in this range, buyers can locate inexpensive housing in a city known for its mix of urban living and scenic lakefront views, all while staying within a budget.
St. Louis, Missouri
St. Louis presents significant affordability, with 25.73% of homes listed under $100,000. House hunters have 530 homes in this range, which makes the city an appealing selection for those seeking an affordable lifestyle in a metro area recognized for its historic landmarks and heritage-based attractions.
Rochester, New York
A high percentage of Rochester’s housing sector—42.29%—is listed for under $100,000, providing 107 homes within this price range. This economic value and Rochester’s proximity to the Finger Lakes region and vibrant arts scene allow it to be a top choice for budget-conscious homebuyers.
Cleveland, Ohio
Buyers will find excellent opportunities for cost-effective homeownership, with 44.24% of homes in Cleveland valued at under $100,000. With 518 active properties on the market, this Midwest city stands out as a top location for those wishing for affordable homes and access to cultural attractions and entertainment.
Toledo, Ohio
Over half of Toledo’s residential market—52.34%—is listed below $100,000, with 358 homes available at this price point. Toledo combines wallet-conducive alternatives with an intense community atmosphere to make it one of the country’s best options for affordable homeownership.
Detroit, Michigan
Detroit offers the highest percentage of low-cost housing on this list, with a staggering 67.84% of homes priced under $100,000. It provides 1,171 homes, attracting budget buyers interested in investing in a city with not only a storied past but also promises a bright future.