Florida’s economy is c… 1. The state’s leading job industries include automotive, aerospace, m… West Virginia. Home prices have skyrocketed in the last few years, leaving many Americans wondering if they will ever be able to afford buying a house. South Carolina. Median prices have been rising steadily, but the increases aren’t as large as they are in other parts of the country. The cheapest land in the Natural State can be found in Clay County, nestled in the northeast corner of Arkansas, where land sells for around … A Californian would need 7.3 times the state's $60,487 median household income to buy a home at $440,000, the median Zillow listing price of homes in the state. In San Francisco, the median home costs more than $1.3 million.In New York City, it goes for nearly $700,000.Even the … Veterans Home Buying Guide; Real Estate Videos ... abs and a killer tan than owning their own piece of beachfront real estate—aka ... prices for the 12-month period of May 2018 to April 2019. Ever Consider Investing in Gatlinburg Real Estate? Methodology: In order to find the cheapest places to buy a home in every state, GOBankingRates looked at every city in each state with a population over 30,000 (10,000 in select states due to low population or limited data availability), as sourced from the U.S. Census Bureau’s 2018 American Community Survey 5-year estimates. If so, sign up to Mashvisor and use our tools to find and analyze profitable investment properties in your cities and neighborhoods of choice in a matter of minutes! Nonetheless, Ohio is still considered one of the cheapest states to buy a house. All of this shows us that Oklahoma is a top location for real estate investors looking for profitable investments over the long-term! On top of great cash flow, values are on a… In fact, it seems that rising home prices have done little to dampen investor demand as, according to The Wall Street Journal, real estate investors are buying more of the US housing market than ever before. But itâs true â many cities in Michigan, even large ones like Detroit, have a low cost of living as well as extremely affordable homes for sale! Median list price per square foot: $110.90. Back in the 1960s, the median price for a home was $11,900, or $96,681 when adjusted for inflation, Business … Missouri. You should never sacrifice your return on investment for the sake of cheap properties! Here are the best cities to look in. The rental market is strong and the steadily growing home values translate into future appreciation. 2020 Best Cities to Buy a House in America About this List Explore the best cities to buy a house based on home values, property taxes, home ownership rates, housing costs, and real estate trends. What’s even more interesting is that, despite these incredibly low housing prices statewide, many home seekers are choosing to rent instead of buy. ... Real Estate. Read more: The 50 best suburbs in America, ranked. Wisconsin has one of the hottest housing markets in the country right now. The good economy, growing job market, and low unemployment rate are the main reasons why thereâs an influx of people coming into Nebraska, increasing the demand for housing. They might be haunted but I don't even care. An extended lack of inventory over the last three years has contributed to fewer homes bought in 2019. So, good news for those planning on investing here â Kentucky is not only a hot market but is also among the most affordable real estate markets as well! To get the final ranking, SmartAsset analyzed each state on the following criteria: average effective property tax rate, median listing price, median listing price per square foot, median home value for the bottom one-third of homes, and average closing costs. Another good reason to invest in property here is that property taxes are among the lowest in the country – only 0.63% according to WalletHub! The median listing price in the Mountain State is $165,000 – the lowest median price in the study. So, if youâre looking to invest in real estate here, we suggest you start looking for an investment property for sale now! Coastal states, such as Massachusetts and California, comprised the majority of the top ten most expensive places to buy a home. Ohio is the 7th most populous and the 10th most densely populated state in the country, meaning thereâs definitely demand for housing. You just need to know which the cheapest states to buy a house for investment are. Both the affordability and profitability of Tennessee investment properties make it an ideal location for any real estate investor, seller or buyer. Even with these great conditions, Ariz… The Tennessee real estate market has been a prime destination for investors for years. In turn, this has a positive effect on the housing market. West Virginia is not only the cheapest state to buy a home, but it’s also ranked number 6 for the cheapest land in the U.S. Looking at the median price and comparing it to the national median, youâll realize Indiana is actually among the cheapest states to buy a house for investment. After thorough research, we have found 20 states in the US housing market that have a median house price below the national price. Indiana: $96/square foot, $250,000 average price 3. The average property tax rate of 1.01% is relatively low which is good news if youâre considering out-of-state real estate investing to reduce your tax costs and expenses. Wondering where the cheapest place to buy a house in the United States is? Despite being relatively small, Iowa is one of the best states to invest in real estate in 2019. Arizona’s economy is quite stable and we can safely say that its job market is pretty healthy when compared to other states in the US. You can read a full breakdown of the methodology here. The Kansas housing market is doing well. South Dakotaâs housing market has been on the up and up and will likely continue this trend in 2019. Those looking to save a few bucks can head west of town, toward the Washington state border, and get a house on the Priest River for about $600,000—or significantly less. Besides being the most affordable housing market in 2019, West Virginia has a property tax rate of 0.59% which is one the lowest in the country according to WalletHub. West Virginia also ranks first for its low median value of the bottom third of homes, at $53,600. Use our Investment Property Calculator to analyze investment properties in Louisiana and see their projected returns to be safe in the long run. This makes Illinois among the cheapest states to buy a house for investment as buyers have multiple options to choose from and the upper hand in negotiation. Airbnb Occupancy Rate Up 13% as Market Recovers. After weighing each metric equally, SmartAsset found the average ranking for each state. Employment. Before we start the list, we need to make one thing clear: while cheap real estate is attractive for getting into real estate investing, price alone does not guarantee high returns. West Virginia: $101/square foot, $228,000 average price 4. Hawaii and Rhode Island are the only states where no county has a median home value below the national median of $235,000. However, while data indicates that itâs a buyer’s market, real estate investors should be careful and do their research before buying a house in Louisiana as the state is known to experience unpredictable fluctuations. Average effective property tax rate: 1.54%. The results of this analysis offer a pretty diverse range of options in a multitude of states across the nation. Many cities in Tennessee enjoy high appreciation rates and home values are expected to increase in 2019. Furthermore, the low cost of living, low home remodeling costs, and good quality of life are attractive variables to home flippers. Eman also writes about trends, forecasts, and tips for beginner investors to gain the confidence and knowledge they need to make wise decisions. The listings were then ranked by price per acre to determine the 50 cheapest places to buy land in America. To start looking for and analyzing the best investment properties in the city/neighborhood of your choice, click here. The largest cities in the United States—New York, Los Angeles, Chicago, Houston, and Phoenix—might have a high median annual income, but they also have very high median home prices. There’s a catch of course: … more and more millennials are heading to the south, The 10 most difficult places to invest in real estate in the US right now, The 10 best places in the US for first-time homebuyers to invest in real estate right now. There are four main reasons why. Beautiful natural areas and rich history are not the only things this state has to offer. A collection of super cheap houses from around the U.S.. You can start using this tool right now with a free Mashvisor account! Existing Home Sales Up 21% in June Amid... No US Housing Bubble Crash in Sight, Expert... How to Calculate the Rate of Return on a Rental Property. The demand for single family homes has been on the rise in the Sunshine State for quite some time. Due to its overall low cost of living, Oklahoma is currently one of the cheapest states to buy a house in the US. 10. For starters, Florida’s population, already situated as the third highest, is expected to increase. To learn more about us, click here. Not in any particular order, here are the top 11 cheapest places in the US to buy a home. We may earn commission on some of the items you choose to buy. Buying a home seems incredibly expensive these days, with decent houses reaching over $250,000. 360 Reviews. T9. Related: The 5 Hottest Cities in the Midwest Real Estate Market in 2019. Related: US Housing Market Forecast 2019 and Beyond: What You Need to Know. Buying a rental property in Florida, for traditional or Airbnb investing, will remain a profitable investment in 2019. When it comes to investing in the cheapest states to buy a house in 2019 for appreciation, Alabama is a good candidate. Some would think this means Indiana homes are expensive, but thatâs not the case! West Virginia is the cheapest state to buy a home in America. Shutterstock. All youâve got to do is set your investment criteria (including your budget) and the location youâre interested in. Visit Business Insider's homepage for more stories. Unprecedented prices! Note that due to insufficient data, Delaware and Louisiana were not included in this study. Eman is a Content Writer at Mashvisor. Oklahoma: $101/square foot, $250,000 average price 5. Where? Fortunately, not every state's housing market is as out of reach as, say, California's, where major markets show trends of competitive prices and low inventory. With a focus on market reports, she enjoys researching the state of the real estate market in different cities across the US. Every item on this page was hand-picked by a House Beautiful editor. Nebraska is also one of the 10 best states to live in 2019 according to US News and World Report! Yet, housing inventory throughout the state is low which means you may have limited options for investment properties. As the US housing market 2019 is booming, itâs getting harder for real estate investors to decide where to buy an investment property. It’s worth noting that the national average home price fell sharply in mid-2019, down to just $227,000, from $280,000 according to Business Insider. While the real estate market remains hot, it's possible to find some serious bargains out there. However, in the 2019 Housing and Mortgage Market Review, Alaska topped the lists as the second state with a high probability of home prices declining in the coming two years! Median list price: $180,000. Not only is Mississippi one of the cheapest states to buy a house in the US, but real estate investors here also enjoy a landlord-friendly environment. Events. A lot of this growth is due to Florida’s robust economy. So, if youâre thinking of buying a cheap house for investment in West Virginia, you wonât be disappointed. So, if you’re wondering where the best places to invest in real estateon a budget are, Arkansas should be on your list of location… Use analytics to ï¬nd lucrative traditional or Airbnb properties in a matter of minutes. Where Do You Find the Best Dallas Investment Properties at the Beginning of 2018. Not only does it offer cheap investment opportunities, but it has a low unemployment rate of just 2.4% and a booming economy. What Kind of Airbnb Occupancy Rate Can You Expect? If you’re on a budget but still want to buy, Money examined the data to see which states are the cheapest places to buy a home in— and which places you probably can’t afford to live in. The cost of living and property tax rates in Mississippi are also some of the lowest in the country. Note that, among these places, several counties appear more … This is good news for investors looking for the cheapest places to buy a house in the United States- specifically those that plan to implement the buy and hold strategy for immediate cash flow. A leading-edge research firm focused on digital transformation. Home values are typically a … 21 Cheap Old Houses You Can Buy For Under $25,000. The cheapest state to buy a home in is once again West Virginia. What’s the Best Airbnb Analytics Platform for 2019? On the other side of the coin, some of the most expensive states to retire in include California, New York, Oregon, Washington, and most states in the New England area -- … This tells real estate investors that the rental market in Wisconsin is doing well. Next up on our list of the cheapest states to buy a house in 2019 is Arkansas. It has been a popular tourist destination for many years and has a growing population, which has expanded an extraordinary 6.8% between 2010 and 2015. Besides the fact that youâll find cheap homes for sale here, the housing market has seen steady growth since the recession and is expected to keep growing at a sustainable pace. as well as other partner offers and accept our. Moreover, the association also reported that even in the three largest metro areas in the state (Louisville, Lexington, and Northern Kentucky), median home prices are 30 to 35% lower than the US median. The 10 cheapest states to buy a home in right now. Next up on the cheapest places to buy a house for investment in the United States is Missouri. So, if youâre wondering where the best places to invest in real estate on a budget are, Arkansas should be on your list of locations to consider. Ohio. At Mashvisor, we make it easy for you to find such properties in the cheapest states to buy a house using the Property Finder Tool. Sign up for Insider Life. The 10 Most Affordable Places to Buy a Mountain House Though itâs not the easiest task for an investor to find properties that are affordable and perform well at the same time, itâs definitely possible and worth the effort. When determining where to buy an investment property, investors must choose based on both affordability and profitability! The report shows that Alaska has a 24% likelihood of home price declines. While these real estate analysis metrics depend on the property and how you buy it, the real estate market heavily influences them as well. The stateâs economy is also doing well with unemployment below the national average, at 3.7%. Now that you know how to find affordable properties for sale, letâs discover where you should be looking for them. Median list price per square foot: $110.90, Average effective property tax rate: 1.54%, Median list price per square foot: $131.25, Average effective property tax rate: 0.55%, Median list price per square foot: $122.22, Average effective property tax rate: 0.95%, Median list price per square foot: $118.96, Average effective property tax rate: 0.85%, Median list price per square foot: $109.22, Average effective property tax rate: 0.84%, Median list price per square foot: $106.17, Average effective property tax rate: 0.89%, Median list price per square foot: $95.75, Average effective property tax rate: 0.78%, Median list price per square foot: $103.38, Average effective property tax rate: 0.40%, Median list price per square foot: $101.19, Average effective property tax rate: 0.61%, Median list price per square foot: $98.38, Average effective property tax rate: 0.57%. A roundup of uplifting stories about everyday heroes. The Midwest real estate market has been experiencing an increase in interest among real estate investors. Furthermore, homes in North Dakota appreciated by 47.28% over the last 10 years, which is one of the highest appreciation rates in the country according to NeighborhoodScout. Using Mashvisorâs Investment Property Calculator, we list data and analytics regarding what kind of profit you can expect from investing in each of the cheapest states to buy a house. Meaning, itâs still one of the most affordable real estate markets to buy a home for investment. These states have the lowest cost of living and the most-affordable housing. According to Realtor.com, the national median price of homes listed for sale in the United States is $310,000 which is a 7% year-over-year growth. Nebraska is one of the best states to invest in real estate for many reasons. Ever wonder about the cheapest place to buy a house in Canada? You should only invest your money in locations where investment properties can generate a good cap rate and good cash on cash return. As you can imagine, this is causing rental rates to rise (over 6% in just a year) and is expected to keep increasing in 2020. Itâs a quiet state that also thrives in terms of low crime rate and good medical care, making it one of the best places to retire in 2019. Stay up to date with the latest tips for Traditional & Airbnb Investments, 20 Cheapest States to Buy a House for Investment in 2019, US Housing Market Forecast 2019 and Beyond: What You Need to Know, most affordable real estate markets in 2019, 8 Best Cities for Airbnb Investment in 2019, The Missouri Economic Research and Information Center, The 5 Hottest Cities in the Midwest Real Estate Market in 2019, The Texas Real Estate Market 2018: Interview with Agent Jenna Hernandez, Best Cities to Flip Houses for Profit in 2020. Do you know which of these cheapest states to buy a house for investment you want to invest in? If youâre among the many investors on a budget and donât have the liberty to take risks on expensive real estate, donât let this information discourage you from buying an investment property in 2019! Next up on our list of the cheapest states to buy a house in 2019 is Arkansas. We sell cheap houses and our prices start from $4,999 only! So, to find the best opportunities, start your property search now! Best known for the Grand Canyon and its sunny weather, Arizona will give you a taste of the true southwest. So, if youâre looking for where to invest in real estate for Airbnb in 2019, Ohio is definitely a top location to consider. It is still possible to buy a home in the United States for less than the two-year appreciation on that $500,000 house. Youâll notice that Mashvisorâs data includes the estimated returns for both traditional and Airbnb rentals. Itâs also very landlord-friendly and quickly growing both in popularity and development. Also, when comparing states based on Mashvisorâs data, youâll notice that Ohio has the highest Airbnb cash on cash return. Account active And, according to Kentucky Realtors, the state is still running on strong sales activity and increasing home values. This further proves that if youâre looking to buy cheap investment properties in 2019, Iowa is one place to consider. While itâs often a forgotten Southern state, it has a rich history, natural resources, and a steadily improving economy which makes buying real estate here a solid investment. This shows you that there are still money-making opportunities in real estate which you should not miss out on. So, even though itâs a seller’s market, there are still excellent investment opportunities for buyers as well. Michiganâs low median price has been attractive to flippers and, according to MichiganRadio.org, homes are flipping faster in the state relative to the rest of the US. While it’s often a forgotten Southern state, it has a rich history, natural resources, and a steadily improving economy which makes buying real estate here a solid investment. Although itâs a seller’s market, real estate investors can still find local markets that are buyer-friendly. However, inventory in Kansas has been low so far in 2019 which is why competition is fierce in the market and home prices are expected to see another increase. With low Kansas housing prices and the decent $53,444 median income, just 2.77 years’ worth of income would buy a home outright, which makes Kansas one of the most affordable states to buy a home this spring. Whatâs more, Realtor.com named Ohio as one of the hottest real estate markets in America earlier this year. 1) Detroit, Michigan. Ranking based on data from the U.S. Census, FBI, and other data sources. New Mexico: $101/square foot, $315,000 average price 6. The Sunshine State has consistently been one of the best states to invest in real estate since the ’08 market crash. State: West Virginia. Here are the ten cheapest states to buy a home based on home prices. Even in more expensive parts of the state, prices are extremely affordable. This will help you choose the ideal investment strategy that will work for both the location and the property itself. Alabama home values have gone up 4.2% over the past year and Zillow predicts they will rise another 2.0% this year. According to the Indiana Association of Realtors, the median price of homes for sale in the state grew by 4.2% last year and is expected to keep growing in 2019 and outperform the national average. Joplin is home to the lowest real estate prices in the country—a four-bedroom home will cost you a little over $200,000. So, if youâre interested in making money in real estate through flipping houses, South Dakota is not only one of the best states to buy real estate but to start a house flipping business as well. While investment properties here arenât as cheap as other states on this list, the median price is below the national median. But with the cost of living on the rise across the US, tracking down affordable real estate can be a challenge. If youâre interested in learning where the cheapest places to buy a house in the US are, just keep reading. Southern and Midwestern comforts.According to Census region and division delineations, seven of our top 10 states are in the South and three are in the Midwest. Although you may not be situated in an urban centre or your home could use a little TLC, there's no denying the attractive price tags on these 12 properties in various parts of the country. According to Zillow, as of April 2019 the median price per square foot is just $1.22 for a home in West Virginia, with an average size of 60,992 square feet. According to The Missouri Economic Research and Information Center, the state has the 4th lowest cost of living and an unemployment rate of 3.2% which is below the national average. Besides being an affordable market, Indiana is also one of the most landlord friendly states in 2019 and has a low property tax rate of 0.87%. Rankings. The city of Detroit came in as the cheapest market to buy a home. Massachusetts was rated the most expensive place in the U.S. to buy a home. The current Alaska real estate market is neutral and shows a healthy supply vs demand which could be beneficial to both buyers and sellers alike.