These 10 states are the most affordable areas in America to buy a house. Where the typical value of a house costs around $200,000 or less. And the monthly payment with a mortgage is less than $1,500.
Homebuyers and real estate investors on a budget would be wise to look into these states as it's still attainable to buy a house in 2024 despite a record housing bubble across America.
10. Alabama - the typical value of a house in Alabama costs only $226,000 and now lots of people are moving in
9. Arkansas - the typical mortgage payment runs around $1,300/month in Arkansas, especially a city like Little Rock.
8. Indiana - home prices in a metro like Indianapolis are very affordable, with cheap homes going for around $240,000 in a good school district.
7. Louisiana - this is one stat where you probably aren't going to be in a rush to pay a house. The state loses lots of people due to outbound migration. Home prices in New Orleans are down.
6. Kansas - the state capital, Topeka, is offering movers $15,000 cash to move in to attract more people, which could go a long way to buying a house.
5. Oklahoma - the typical monthly payment on a house is $1,300/month, with even homes in nice neighborhoods like Edmond, OK being cheap.
4. Kentucky - home prices in Kentucky are very cheap, especially in metros like Bowling Green and Lexington.
3. Mississippi - this is the poorest state in America, with a median income of $55,000, which is one of the reasons why home prices are so cheap.
2. Iowa - the typical home value is $214,000 v a $74,000 median income, giving the state a 2.9x home value/income ratio.
1. West Virginia - this state is now adding people after losing people for the longest time. Home prices here are the cheapest in America. --- REVENTURE APP: https://www.reventure.app
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