10 Cities Under $100k
Date : Oct 15, 2024 Category : Real Estate NewsAuthor: realejuicey Tags: affordable homes, homeownership, housing
For many Americans, the dream of owning a home has slowly become a pipe dream. According to December 2023 figures from Zillow, the national average home price has skyrocketed to over $340K. Most Americans still holding onto that dream have started hunting for places it can still be achieved without living near a toxic waste dump or in a city so dangerous it could be the backdrop for the next installment of Mad Max.
Want a cheap home? The dream of home ownership in America has become increasingly challenging as the national average home price has soared over $340,000. However, there are still cities where it is possible to buy a home for under $100,000. These cities may not offer the glamor of beachfront properties or quaint New England towns, but they provide affordable living without significant compromises. Here are ten cities where home buying remains budget-friendly.
Wichita, Kansas
Overview: Wichita combines urban convenience with rural charm, offering a balanced lifestyle with friendly communities and numerous outdoor activities. Economy: The city’s mixed economy, including strong sectors in manufacturing, healthcare, and education, stabilizes the job market and keeps housing prices low. Real Estate: Wichita’s strategic central location contributes to lower transportation and land costs. Approximately 7% of the city’s active listings are under $100,000.
Cincinnati, Ohio
Overview: Cincinnati attracts remote workers due to its affordability and vibrant lifestyle, offering various recreational activities and sports events. Economy: Lower costs of living across groceries, transportation, and healthcare make it easier to live comfortably. Real Estate: The city has a high number of homes available, which helps keep prices down. Around 6.72% of active listings are under $100,000.
Louisville, Kentucky
Overview: Louisville offers a welcoming community with plenty of activities, great food, and a reputation for friendliness. Economy: Less crowded than major cities, Louisville benefits from a lower cost of living and ample land availability. Real Estate: Known for affordable housing, 8.70% of the city’s active listings are under $100,000.
Pittsburgh, Pennsylvania
Overview: Pittsburgh is an affordable city with a growing tech scene, a vibrant sports culture, and close-knit communities. Economy: The city’s modest reputation keeps housing prices low while offering a high quality of life. Real Estate: With about 15.4% of listings under $100,000, Pittsburgh provides numerous affordable housing options.
Milwaukee, Wisconsin
Overview: Milwaukee offers a rich cultural scene, proximity to Lake Michigan, and a vibrant community life. Economy: The city’s crime rate, though higher than the rest of Wisconsin, contributes to its affordability. Real Estate: Approximately 23.76% of active listings are under $100,000, making it a budget-friendly option.
St. Louis, Missouri
Overview: St. Louis is steeped in history and culture, though it has faced economic challenges in the past. Economy: Ongoing revitalization efforts aim to attract new residents and businesses, stabilizing the housing market. Real Estate: The city has about 2.73% of its listings under $100,000, providing affordable housing options.
Rochester, New York
Overview: Rochester, located in Upstate New York, offers both lake and riverfront living with a diverse economy. Economy: The city’s transition from manufacturing to sectors like education, healthcare, and technology keeps the real estate market stable. Real Estate: With 42.29% of listings under $100,000, Rochester is one of the most affordable cities in this list.
Cleveland, Ohio
Overview: Cleveland, known for its affordable living due to past economic decline, is now on a path to recovery. Economy: The city’s efforts to attract remote workers and new industries are gradually improving its economic landscape. Real Estate: About 4.4% of active listings are under $100,000, offering budget-friendly housing options.
Tulsa, Oklahoma
Overview: Tulsa is actively attracting remote workers and offers a low cost of living with a slower-paced lifestyle. Economy: Incentives for remote workers and a diversified job market contribute to Tulsa’s affordability. Real Estate: Approximately 6.52% of listings are under $100,000, making Tulsa an affordable choice for home buyers.
Indianapolis, Indiana
Overview: Indianapolis offers a mix of urban and suburban life, with a welcoming community and numerous green spaces. Economy: Steady economic growth without major booms helps keep the cost of living and real estate prices low. Real Estate: About 4.86% of active listings are under $100,000, making it an attractive city for affordable living.
These ten cities offer affordable housing options under $100,000, making home ownership more attainable for many Americans. While each city has its unique characteristics and challenges, they all provide viable alternatives to the high costs seen in other parts of the country. Whether you’re a young professional, a family, or a retiree, these cities offer a chance to achieve the dream of owning a home without breaking the bank.
