Oct 11, 2026

Affordable Homes Under $500K Are Selling Fastest in These 10 Housing Markets

Homes for sale, especially those priced under $500,000, tend to be snapped up quickly by eager buyers. However, these fast-selling homes aren’t in major cities like Miami or New York. Some of the year’s hottest markets are in the Midwest.

A Homes.com study identified 10 markets where affordable homes sell the fastest with seven ranking Midwest markets. The national median for homes under $500,000 is 56 days, but buying happens much earlier in the top markets for budget-friendly homes. Some sell as soon as 41 days in St. Louis and Detroit or stretch out as long as 47 days in Minneapolis.

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Here are the 10 housing markets where affordable homes are selling the fastest. We also included each location’s average home value — sourced from Zillow — for a better understanding of home costs.

St. Louis

Median days on market: 41
Average home value: $186,625

Detroit

Median days on market: 41
Average home value: $77,199

Kansas City, Missouri

Median days on market: 42
Average home value: $253,549

Sacramento, California

Median days on market: 43
Average home value: $473,797

Columbus, Ohio

Median days on market: 44
Average home value: $247,002

Cleveland

Median days on market: 44
Average home value: $120,419

Baltimore

Median days on market: 45
Average home value: $186,741

Chicago

Median days on market: 46
Average home value: $334,030

Richmond, Virginia

Median days on market: 46
Average home value: $364,726

Minneapolis

Median days on market: 47
Average home value: $328,529

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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Written by

Heather Taylor

Edited by

Rebekah Evans