10 Metros With Median Home Prices Below $300K

Unaffordable home prices have challenged homebuyers over the last few years, but as mortgage rates come down to 6% and the number of active listings continues to grow, prices are beginning to calm down. More affordable options are beginning to open up for homebuyers across the U.S., with a recent report from housing marketing platform Realtor.com showing 10 metros where the median home is priced below $300,000.

With a median listing price of $217,950, Toledo, Ohio was ranked as the most affordable metro, followed by Battle Creek, Mich., which has a median list price of $229,999. Pittsburgh and Cleveland follow closely behind with respective median list prices of $250,000 and $259,900.

"In these markets, home prices are more closely aligned with local incomes, allowing the typical household to afford the typical for-sale home," says Hannah Jones, senior economic research analyst at Realtor.com. "The existence of these affordable areas, even if limited, offers encouraging news for buyers committed to purchasing in one of these regions."