Cheapest Cities to Buy a House in the USA

By PropertyClub Team
Jul 2nd 2023
Home prices in the United States have recently become more expensive than ever. But if you’re on a budget, you can still find affordable places to live in America.

Read on to discover the ten cheapest cities to buy a house in the US in 2024. Also, if you are interested in buying a home in California, then check out another article on the cheapest places to live in California.

hash-mark9 Cheapest US Cities to Buy a House

  1. Detroit, MI
  2. Jackson, MS
  3. Toledo, OH
  4. Cleveland, OH
  5. Peoria, IL
  6. Montgomery, AL
  7. Wichita Falls, TX
  8. Memphis, TN
  9. Augusta, GA

hash-mark1. Detroit, MI

The cheapest city to buy a house in the United States is Detroit, Michigan. This city is located on the divide between Lake Sinclair and Lake Eerie, making it perfect for those who prefer cheap waterfront property. Detroit is home to roughly 632,000 people and is known for its diverse urban atmosphere and low cost of living. Local attractions include the Henry Ford Museum of American Innovation, Comerica Baseball Park, Ford Football Field, and Little Caesars Hockey Arena. Home values in this area average a meager $69,125 in 2023, making Detroit the cheapest city in the United States to buy a house. 

hash-mark2. Jackson, MS

Jackson, Mississippi, is the second-cheapest city to buy a house in the United States. In addition to its status as the state capital, Jackson is also the most populated city in Mississippi. It is home to roughly 150,000 residents, most of whom appreciate the area for its mild climate and wide range of museums, historic buildings, state parks, and local festivals. The city’s family-friendly nature and tree-lined streets make it a great place to live. Home values in this area average $85,025, making Jackson the second-most affordable city in America to buy a house.

hash-mark3. Toledo, OH

Toledo, Ohio, is another one of the cheapest places to buy a house in the USA. This city is located close to the Ohio-Michigan border and is perfect for those interested in waterfront living. While it is primarily known as a leader in the auto manufacturing and glass industries, the city has recently become a more popular option for families and young professionals who are interested in furthering their careers. This is largely to do with the area’s great weather, the abundance of urban amenities, and the affordable cost of living. Home prices in this area average $110,750, keeping Toledo a cheap area for future homeowners. 

hash-mark4. Cleveland, OH

Cleveland, Ohio, has long been known as a popular choice for affordable homeownership. This city sits on the south-central shores of Lake Eerie and is home to about 368,000 people. Residents of this city can appreciate the area’s food and beverage scene, sporting events, engaging community, and abundance of natural beauty. Natural attractions in this area include the Cleveland Metroparks and Cuyahoga Valley National Park, which surround the city with a variety of waterfalls, overlooks, and walking trails. Home prices in Cleveland average $111,195, making it a popular choice among American homebuyers. 

hash-mark5. Peoria, IL

Situated in Illinois’ northwestern quadrant is Peoria, another one of the nation’s cheapest cities to buy a house. Known for being the largest city on the Illinois River, this city is home to roughly 112,000 people and encompasses about 50.55 square miles. It offers its residents an abundance of urban entertainment, which includes restaurants, farmer’s markets, river walks, live events, cultural centers, and more. Other local attractions include Wildlife Prairie State Park, Grandview Drive, and Luthy Botanical Garden. Home values in Peoria average $114,400, keeping this river city both beautiful and cheap. 

hash-mark6. Montgomery, AL

Montgomery, Alabama, is the second-cheapest city to buy a home in the South. Located in the state’s southeastern quadrant, this capital city is known for its booming job market, low cost of living, and abundance of local entertainment. It is home to roughly 199,000 people, all of whom enjoy the area for its rich history, thrilling nightlife, delicious eateries, and traditional Southern culture. Local attractions in Montgomery include a variety of museums, zoos, haunted tours, greenspaces, and the Riverfront Park. Montgomery home prices are some of the lowest in the nation, keeping it an affordable Southern city for homebuyers.  

hash-mark7. Wichita Falls, TX

Located in north-central Texas, Wichita Falls is a cheap US city that's great for nature lovers. While the city was originally known for its cattle and oil industries, it has since become an epicenter of both culture and art. The city itself is home to nearly 103,000 people, all of whom appreciate the area’s abundance of local greenspaces and tranquility. Additionally, those who move to Wichita Falls can take advantage of the city’s affordable cost of living, healthy economy, and sparse unemployment rates. Overall, Wichita Falls is an excellent choice for homebuyers who are interested in a cheap area with big potential.

hash-mark8. Memphis, TN

Memphis, Tennessee, is also one of the cheapest cities to buy a house in the United States. Memphis is located in southern Tennessee and has a long tradition of keeping music alive and thriving within its streets. After all, it's known as the Birthplace of Rock and Roll and the Home of the Blues. Local attractions here include several theaters, museums, art galleries, performing arts centers, and sporting arenas. But, arguably, the most notable item in Memphis is Graceland, the historical home of Elvis Presley. Home prices in Memphis average only $158,500, making it another affordable area for Southern homebuyers. 

hash-mark9. Augusta, GA

Not only is Augusta one of the cheapest places to live in Georgia, but it is also one of the most affordable cities in the United States. Lovingly known as the “Garden City of the South,” Augusta is best known for its abundance of greenspaces, nature trails, and stunning gardens. The city is also home to the world-renowned Medical College of Georgia, which attracts a population of both students and young professionals. And, as any golfing aficionado knows, this beautiful city is also home to the annual Master’s Tournament. With an average home price of $181,950, Augusta is a great city for finding affordable homes in a great neighborhood.

hash-markCheapest US Cities to Buy a House Compared

City

Population

Average Home Price

Detroit, MI

632,464

$69,125

Jackson, MS

149,761

$85,025

Toledo, OH

268,508

$110,750

Cleveland, OH

367,991

$111,195

Peoria, IL

111,666

$114,400

Montgomery, AL

198,665

$138,113

Wichita Falls, TX

102,988

$153,419

Memphis, TN

628,127

$158,500

Augusta, GA

201,196

$181,950