Where You Can Get a House for Less Than $200,000

August 30, 2019
west virginia
Photo: Unsplash/Peter Schreve

CNBC found 13 U.S. cities where the average home costs less than $200,000.

The median sale price for homes across the U.S. is around $234,000. While that may seem like a steal for residents of expensive states like California, there are many other places where the typical home costs even less.

CNBC Make It identified 13 cities where median home prices are less than $200,000, based on data from the National Association of Realtors’ Metropolitan Median Area Prices and Affordability index from the second quarter of 2019.

For context, we also included the qualifying income needed to purchase a home with a 10% or 20% down payment. The data assumes a 4.1% mortgage rate for all areas and a monthly principal and interest payment limited to 25% of a resident’s income.

The city with the lowest price on the list was Charleston, W.V., where the average home is $141,700. Also making the list were South Bend, Ind., Rochester, N.Y., Wichita, Kan., and Cedar Rapids, Iowa.

Read more
 

Comments

Related Categories

PB-Industry Data + Research
expand_less