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- Home prices in many cities are climbing, but there are still affordable cities to be found.
- Recently released data by the NAR shows cities with median home prices under $200,000.
- Jackson, Missouri, and Montgomery, Alabama, are two cities where home costs fell under $200,000.
Buying a home can seem like a daunting or even impossible task in 2024.
The National Association of Realtors found that prices for existing single-family homes in more than 85% of the markets tracked by the organization rose between October 1 and December 31, 2023, indicating home prices across the country are on the rise.
The average sale price of existing single-family homes is $384,500 in the United States. The NAR released a report in February that tracked the median sales price of existing single-family homes in cities across the country.
Business Insider pulled the preliminary home-price data for Q4 2023, then compared those median home prices to the 2024 state median home values and included the state real-estate tax rates, which were reported by WalletHub in February 2024. We also included the population increase or decrease since 2020, according to World Population Review, which cited recent US Census data.
While the cities on this list might be lesser known than major cities like New York and Los Angeles, they're also more affordable and offer a smaller-city feel with populations of less than 400,000 residents.
Here are 15 cities where you can still buy a single-family home for under $200,000.
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