5 Cheapest States to Buy a House in the US

In this article, we will present the 5 Cheapest States to Buy a House in the US. You can read our detailed discussion and a more comprehensive list by visiting 15 Cheapest States to Buy a House in the US.

5. Mississippi

Median Sale Price: $263,500

Median Monthly Housing Cost: $1,311

Homes in the state of Mississippi sell for a median price of $263,500 which is lower than in many other states. The median monthly housing cost in Mississippi was recorded at $1,311.

4. Ohio

Median Sale Price: $263,000

Median Monthly Housing Cost: $1,429

Ohio is another state where it is relatively affordable to own one’s own place. The state offers a median sale price of $263,000 which is lower than the national average. As recorded in June, the state’s home prices have climbed 5.7% year-over-year.

3. Oklahoma

Median Sale Price: $257,200

Median Monthly Housing Cost: $1,416

As of June, the median home sale price in Oklahoma is $257,200. The state has a median monthly housing expense of $1,416 to be incurred by those who wish to settle in. Thus, Oklahoma ranks 3^rd on our list of the cheapest states to buy a house.

2. West Virginia

Median Sale Price: $251,900

Median Monthly Housing Cost: $1,180

West Virginia comes second among the states where buying a home is cheap. The state boasts a median sale price of $251,900. This price has experienced a rise of 2.9% since 2023. Metros with the fastest growing sales price include Fairmont, Charleston, Martinsburg, and Wheeling.

1. Iowa

Median Sale Price: $248,100

Median Monthly Housing Cost: $1,444

Iowa ranks at the top of the 15 cheapest states to buy a home in the US. As of June, the median sale price in the state is only $248,100 while the median monthly housing cost stands at $1,444. Although home prices have gone up by 3.9% compared to last year, they are still relatively low. The median days on the market are 27 days.

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