50 Major Cities Where Buying a Home Is Surprisingly Cheap
The word “cheap” is getting a makeover in this economy. Though buying a home in today’s housing market can feel out of reach financially, saving money on real estate you didn’t know was more affordable one town over puts it back in your grasp. In fact, despite rising home prices nationwide, there are still major cities where real estate is surprisingly cheap and cheerful.
This could offer you the rare chance to find inexpensive homes, low cost of living and strong long‑term investment potential. Whether you're a first‑time homebuyer, a remote worker looking to relocate or a seasoned investor searching for high‑value housing markets, MoneyLion found these booming metropolises to provide you with some of the best places to buy a home without breaking the bank.
Here are 50 major cities with unexpectedly low home prices ranked, analyzing median home values, market trends, income levels, population and other local economic factors that make them stand out in a good way.
Key Findings
Of the 50 major cities MoneyLion found that are unexpectedly affordable, 16 have an average mortgage under $1,000 a month. This includes such popular places as St. Louis, Baltimore and Memphis. The list also includes two big cities with monthly mortgages under $500: Detroit and Jackson, Mississippi.
One of the biggest impacts on your wallet over the last few years is the skyrocketing cost of living. The good news is that nine cities on this list have an average annual cost of living that is less than $30,000. This includes the four cities in Ohio of Akron, Toledo, Dayton and Cleveland.
Texas has the most representation on this list with a whopping 11 cities ranking for surprisingly cheap homes, proving everything is, in fact, bigger there, including the savings. The Lone Star State just slightly edged out California, which had a respectable nine states that made the list.
1. Springfield, Massachusetts
Average home value: $291,110
Statewide average home value: $661,590
Average monthly mortgage: $1,581
Median household income: $57,384
Annual cost of living: $40,185
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2. Detroit
Average home value: $74,530
Statewide average home value: $249,053
Average monthly mortgage: $405
Median household income: $39,209
Annual cost of living: $25,401
3. Syracuse, New York
Average home value: $206,024
Statewide average home value: $480,447
Average monthly mortgage: $1,119
Median household income: $51,770
Annual cost of living: $35,593
4. Baltimore
Average home value: $183,916
Statewide average home value: $437,125
Average monthly mortgage: $999
Median household income: $64,778
Annual cost of living: $32,721
5. Memphis, Tennessee
Average home value: $142,190
Statewide average home value: $327,431
Average monthly mortgage: $772
Median household income: $52,679
Annual cost of living: $29,132
6. Rochester, New York
Average home value: $227,200
Statewide average home value: $480,447
Average monthly mortgage: $1,234
Median household income: $46,882
Annual cost of living: $36,425
7. Fresno, California
Average home value: $392,076
Statewide average home value: $777,479
Average monthly mortgage: $2,129
Median household income: $74,491
Annual cost of living: $46,612
8. Visalia, California
Average home value: $392,999
Statewide average home value: $777,479
Average monthly mortgage: $2,134
Median household income: $84,781
Annual cost of living: $47,691
9. Bakersfield, California
Average home value: $394,079
Statewide average home value: $777,479
Average monthly mortgage: $2,140
Median household income: $82,093
Annual cost of living: $46,662
10. Buffalo, New York
Average home value: $236,159
Statewide average home value: $480,447
Average monthly mortgage: $1,283
Median household income: $52,211
Annual cost of living: $37,165
11. Jackson, Mississippi
Average home value: $80,244
Statewide average home value: $187,222
Average monthly mortgage: $436
Median household income: $44,516
Annual cost of living: $24,880
12. Cleveland
Average home value: $110,507
Statewide average home value: $240,390
Average monthly mortgage: $600
Median household income: $43,383
Annual cost of living: $26,196
13. Macon, Georgia
Average home value: $166,089
Statewide average home value: $330,889
Average monthly mortgage: $902
Median household income: $47,018
Annual cost of living: $31,218
14. Columbus, Georgia
Average home value: $168,471
Statewide average home value: $330,889
Average monthly mortgage: $915
Median household income: $57,010
Annual cost of living: $31,079
15. Augusta, Georgia
Average home value: $171,801
Statewide average home value: $330,889
Average monthly mortgage: $933
Median household income: $58,803
Annual cost of living: $31,312
16. Toledo, Ohio
Average home value: $125,012
Statewide average home value: $240,390
Average monthly mortgage: $679
Median household income: $50,562
Annual cost of living: $27,285
17. Dayton, Ohio
Average home value: $131,175
Statewide average home value: $240,390
Average monthly mortgage: $712
Median household income: $45,846
Annual cost of living: $28,275
18. Akron, Ohio
Average home value: $133,130
Statewide average home value: $240,390
Average monthly mortgage: $723
Median household income: $48,521
Annual cost of living: $27,511
19. Birmingham, Alabama
Average home value: $127,458
Statewide average home value: $228,987
Average monthly mortgage: $692
Median household income: $51,355
Annual cost of living: $29,594
20. Stockton, California
Average home value: $430,389
Statewide average home value: $777,479
Average monthly mortgage: $2,337
Median household income: $78,627
Annual cost of living: $50,055
21. Victorville, California
Average home value: $431,754
Statewide average home value: $777,479
Average monthly mortgage: $2,345
Median household income: $80,407
Annual cost of living: $49,348
22. Rockford, Illinois
Average home value: $168,435
Statewide average home value: $284,037
Average monthly mortgage: $915
Median household income: $52,564
Annual cost of living: $31,193
23. Shreveport, Louisiana
Average home value: $133,495
Statewide average home value: $208,723
Average monthly mortgage: $725
Median household income: $50,291
Annual cost of living: $28,061
24. Modesto, California
Average home value: $441,100
Statewide average home value: $777,479
Average monthly mortgage: $2,395
Median household income: $79,211
Annual cost of living: $50,820
25. Montgomery, Alabama
Average home value: $146,342
Statewide average home value: $228,987
Average monthly mortgage: $795
Median household income: $59,292
Annual cost of living: $30,601
26. Waco, Texas
Average home value: $191,238
Statewide average home value: $297,558
Average monthly mortgage: $1,039
Median household income: $56,548
Annual cost of living: $31,931
27. Brownsville, Texas
Average home value: $193,907
Statewide average home value: $297,558
Average monthly mortgage: $1,053
Median household income: $59,491
Annual cost of living: $31,683
28. St. Louis, Missouri
Average home value: $178,888
Statewide average home value: $258,521
Average monthly mortgage: $971
Median household income: $53,374
Annual cost of living: $31,421
29. Abilene, Texas
Average home value: $200,025
Statewide average home value: $297,558
Average monthly mortgage: $1,086
Median household income: $60,605
Annual cost of living: $34,801
30. Amarillo, Texas
Average home value: $200,858
Statewide average home value: $297,558
Average monthly mortgage: $1,091
Median household income: $67,187
Annual cost of living: $33,217
31. Milwaukee
Average home value: $215,459
Statewide average home value: $322,148
Average monthly mortgage: $1,170
Median household income: $56,792
Annual cost of living: $34,314
32. Fayetteville, North Carolina
Average home value: $222,941
Statewide average home value: $331,825
Average monthly mortgage: $1,211
Median household income: $54,562
Annual cost of living: $35,239
33. Lubbock, Texas
Average home value: $206,069
Statewide average home value: $297,558
Average monthly mortgage: $1,119
Median household income: $62,360
Annual cost of living: $33,795
34. Lancaster, California
Average home value: $464,616
Statewide average home value: $777,479
Average monthly mortgage: $2,523
Median household income: $87,324
Annual cost of living: $51,907
35. Hampton, Virginia
Average home value: $271,503
Statewide average home value: $408,273
Average monthly mortgage: $1,474
Median household income: $69,277
Annual cost of living: $37,927
36. Pasadena, Texas
Average home value: $215,759
Statewide average home value: $297,558
Average monthly mortgage: $1,172
Median household income: $60,844
Annual cost of living: $34,629
37. Laredo, Texas
Average home value: $217,622
Statewide average home value: $297,558
Average monthly mortgage: $1,182
Median household income: $61,519
Annual cost of living: $33,693
38. Killeen, Texas
Average home value: $217,992
Statewide average home value: $297,558
Average monthly mortgage: $1,184
Median household income: $60,141
Annual cost of living: $33,970
39. Corpus Christi, Texas
Average home value: $218,483
Statewide average home value: $297,558
Average monthly mortgage: $1,187
Median household income: $66,967
Annual cost of living: $34,388
40. Sacramento, California
Average home value: $478,012
Statewide average home value: $777,479
Average monthly mortgage: $2,596
Median household income: $91,387
Annual cost of living: $53,264
41. Topeka, Kansas
Average home value: $191,211
Statewide average home value: $238,460
Average monthly mortgage: $1,038
Median household income: $61,030
Annual cost of living: $33,109
42. Spokane, Washington
Average home value: $389,770
Statewide average home value: $602,165
Average monthly mortgage: $2,117
Median household income: $78,583
Annual cost of living: $44,235
43. Columbia, South Carolina
Average home value: $228,241
Statewide average home value: $301,895
Average monthly mortgage: $1,240
Median household income: $55,233
Annual cost of living: $36,125
44. Kansas City, Kansas
Average home value: $194,318
Statewide average home value: $238,460
Average monthly mortgage: $1,055
Median household income: $63,917
Annual cost of living: $32,893
45. Warren, Michigan
Average home value: $201,137
Statewide average home value: $249,053
Average monthly mortgage: $1,092
Median household income: $56,281
Annual cost of living: $33,098
46. McAllen, Texas
Average home value: $228,258
Statewide average home value: $297,558
Average monthly mortgage: $1,240
Median household income: $60,907
Annual cost of living: $33,864
47. San Bernardino, California
Average home value: $486,755
Statewide average home value: $777,479
Average monthly mortgage: $2,643
Median household income: $67,753
Annual cost of living: $52,411
48. Wichita
Average home value: $197,336
Statewide average home value: $238,460
Average monthly mortgage: $1,072
Median household income: $65,855
Annual cost of living: $33,434
49. Newport News, Virginia
Average home value: $289,774
Statewide average home value: $408,273
Average monthly mortgage: $1,574
Median household income: $68,927
Annual cost of living: $39,494
50. El Paso
Average home value: $230,660
Statewide average home value: $297,558
Average monthly mortgage: $1,253
Median household income: $59,932
Annual cost of living: $34,559
Methodology: MoneyLion found the largest 250 cities using the U.S. Census 2024 1-year American Community Survey, along with median household income. The cost-of-living indexes were sourced from Sperling's BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living indices. Using the indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location was calculated. The average single-family home value for each city, each state, and nationwide was sourced from the Zillow Home Value Index for November 2025. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living were calculated. The difference between the single-family home value for each city from the statewide averages and the nationwide average were each scored and weighted at 1.00. Both scores were summed and sorted to show the places where buying a home is surprisingly cheap. All data is up to date as of Jan. 15, 2026.
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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