Budget-Friendly Real Estate: The Most Affordable Towns Across America

The median home value in America stands at approximately $350,091, yet this figure masks dramatic regional variations. Real estate markets differ significantly based on location, property type, neighborhood characteristics, and broader economic conditions. With housing costs climbing steadily—last year’s average exceeded $327,000—and mortgage rates remaining elevated, many aspiring homebuyers are reconsidering their options and exploring alternative markets.

The good news? Every state contains communities where housing remains genuinely affordable. To identify these hidden gems, we leveraged data from Zillow’s Home Value Index (ZHVI) and population statistics from the U.S. Census Bureau to examine significant population centers across all 50 states. The result is a comprehensive guide to the most budget-friendly real estate markets in the nation.

State-by-State Guide to Cheapest Homes in the US

Alabama

Most Affordable Town: Selmont-West Selmont
2023 ZHVI: $26,907.01
Population: 1,995

Alaska

Most Affordable Town: Ninilchik
2023 ZHVI: $203,976.93
Population: 964

Arizona

Most Affordable Town: Bowie
2023 ZHVI: $82,555.38
Population: 320

Arkansas

Most Affordable Town: Grubbs
2023 ZHVI: $36,023.51
Population: 416

California

Most Affordable Town: Johannesburg
2023 ZHVI: $95,686.53
Population: 90

Colorado

Most Affordable Town: Las Animas
2023 ZHVI: $93,021.01
Population: 2,564

Connecticut

Most Affordable Town: Hartford
2023 ZHVI: $229,199.63
Population: 121,562

Delaware

Most Affordable Town: Little Creek
2023 ZHVI: $188,307.07
Population: 248

District of Columbia

Most Affordable Town: Washington, D.C.
2023 ZHVI: $722,785.93
Population: 683,154

Florida

Most Affordable Town: Gretna
2023 ZHVI: $83,913.77
Population: 1,247

Georgia

Most Affordable Town: Lumpkin
2023 ZHVI: $41,536.21
Population: 862

Hawaii

Most Affordable Town: Pahoa
2023 ZHVI: $279,815.53
Population: 1,336

Idaho

Most Affordable Town: Pierce
2023 ZHVI: $185,619.88
Population: 481

Illinois

Most Affordable Town: Cairo
2023 ZHVI: $19,759.71
Population: 1,694

Indiana

Most Affordable Town: Jasonville
2023 ZHVI: $69,864.45
Population: 1,935

Iowa

Most Affordable Town: Mystic
2023 ZHVI: $53,950.55
Population: 337

Kansas

Most Affordable Town: Sedan
2023 ZHVI: $39,922.63
Population: 873

Kentucky

Most Affordable Town: Wheelwright
2023 ZHVI: $40,091.90
Population: 777

Louisiana

Most Affordable Town: Rodessa
2023 ZHVI: $51,729.93
Population: 150

Maine

Most Affordable Town: Van Buren
2023 ZHVI: $112,255.80
Population: 1,596

Maryland

Most Affordable Town: Kitzmiller
2023 ZHVI: $70,155.67
Population: 229

Massachusetts

Most Affordable Town: North Adams
2023 ZHVI: $231,801.34
Population: 13,024

Michigan

Most Affordable Town: Beecher
2023 ZHVI: $35,217.92
Population: 9,171

Minnesota

Most Affordable Town: Elmore
2023 ZHVI: $66,721.00
Population: 398

Mississippi

Most Affordable Town: Clarksdale
2023 ZHVI: $47,648.91
Population: 15,124

Missouri

Most Affordable Town: Hillsdale
2023 ZHVI: $37,847.55
Population: 934

Montana

Most Affordable Town: Browning
2023 ZHVI: $133,406.20
Population: 851

Nebraska

Most Affordable Town: Walthill
2023 ZHVI: $53,750.74
Population: 880

Nevada

Most Affordable Town: Austin
2023 ZHVI: $72,914.97
Population: 18

New Hampshire

Most Affordable Town: Groveton
2023 ZHVI: $153,511.01
Population: 892

New Jersey

Most Affordable Town: Camden
2023 ZHVI: $111,456.76
Population: 72,381

New Mexico

Most Affordable Town: Tucumcari
2023 ZHVI: $79,381.00
Population: 5,221

New York

Most Affordable Town: Lyon Mountain
2023 ZHVI: $54,356.54
Population: 256

North Carolina

Most Affordable Town: Roxobel
2023 ZHVI: $37,497.18
Population: 224

North Dakota

Most Affordable Town: Drake
2023 ZHVI: $86,510.78
Population: 339

Ohio

Most Affordable Town: Drexel
2023 ZHVI: $43,850.55
Population: 1,732

Oklahoma

Most Affordable Town: Grandfield
2023 ZHVI: $36,349.68
Population: 936

Oregon

Most Affordable Town: Condon
2023 ZHVI: $160,483.04
Population: 763

Pennsylvania

Most Affordable Town: Girardville
2023 ZHVI: $32,587.41
Population: 1,360

Rhode Island

Most Affordable Town: Central Falls
2023 ZHVI: $322,266.99
Population: 22,192

South Carolina

Most Affordable Town: Wagener
2023 ZHVI: $43,440.76
Population: 1,357

South Dakota

Most Affordable Town: Lemmon
2023 ZHVI: $92,496.39
Population: 1,252

Tennessee

Most Affordable Town: Ridgely
2023 ZHVI: $88,515.45
Population: 1,950

Texas

Most Affordable Town: Rochester
2023 ZHVI: $48,611.98
Population: 315

Utah

Most Affordable Town: Emery
2023 ZHVI: $189,196.44
Population: 375

Vermont

Most Affordable Town: North Troy
2023 ZHVI: $156,570.38
Population: 570

Virginia

Most Affordable Town: Appalachia
2023 ZHVI: $38,627.02
Population: 1,472

Washington

Most Affordable Town: Lind
2023 ZHVI: $183,774.44
Population: 486

West Virginia

Most Affordable Town: Northfork
2023 ZHVI: $26,217.91
Population: 367

Wisconsin

Most Affordable Town: Montreal
2023 ZHVI: $105,546.61
Population: 749

Wyoming

Most Affordable Town: Midwest
2023 ZHVI: $66,513.74
Population: 193

Finding Your Next Home

For those searching for affordable housing options, this comprehensive analysis of the cheapest homes in the US reveals significant opportunities beyond the mainstream markets. From Illinois’s Cairo at just $19,759.71 to West Virginia’s Northfork at $26,217.91, small-town America offers genuine bargains for budget-conscious buyers. Even in traditionally expensive states like California and New York, pockets exist where home prices remain remarkably affordable when compared to major metropolitan areas.

The data demonstrates that geographic flexibility can dramatically expand purchasing power. Whether you prioritize proximity to employment centers or value the quieter appeal of smaller communities, understanding where the most affordable properties exist across all 50 states is an essential first step in your home-buying journey.

Methodology: This analysis examined every state to identify communities with the lowest median home values using Zillow’s Home Value Index data. Population figures were sourced from the U.S. Census American Community Survey. All data reflects conditions as of October 10th, 2023.