The 50 Best Places To Buy a Home for Under $250,000
A family home is one of the key elements for many Americans, providing a long-term solution to their housing and a real estate investment for their portfolio. However, in many places in America, housing prices have started to rocket so high that homeownership has become the sort of dream that’s only imaginable for the rich. When the median home value in your area is $1 million or more, a 20% down payment alone comes to $200,000.
That’s why GOBankingRates has compiled a list of the best options for people who are ready to look beyond the beaten path for a place where houses are affordable and life is good. The study compiled the median home value from cities across the country, limiting itself to just those where prices are under a quarter-million dollars. It then added on factors like crime rates, unemployment and overall livability, scoring each and combining them to rank each city.
So, see if your home town is one of the places where you can expect to be able to buy a home for a price that’s not outrageous.
Last updated: Sept. 30, 2020
50. Brownsville, Texas
2020 average home value: $104,518
Livability score: 76
Median household income: $36,499
Unemployment rate: 11%
Percentage of people below the poverty line: 31%
Violent crime rate per 1,000 residents: 4.03
Property crime rate per 1,000 residents: 27.71
Annual cost of living (excluding housing): $17,190.96
49. Dallas
2020 average home value: $237,212
Livability score: 74
Median household income: $50,100
Unemployment rate: 7.5%
Percentage of people below the poverty line: 20.5%
Violent crime rate per 1,000 residents: 7.76
Property crime rate per 1,000 residents: 33.57
Annual cost of living (excluding housing): $20,057.76
48. Lafayette, Louisiana
2020 average home value: $178,852
Livability score: 72
Median household income: $50,182
Unemployment rate: 9.1%
Percentage of people below the poverty line: 19.4%
Violent crime rate per 1,000 residents: 5.49
Property crime rate per 1,000 residents: 47.97
Annual cost of living (excluding housing): $18,511.20
47. Winston-Salem, North Carolina
2020 average home value: $159,143
Livability score: 67
Median household income: $44,311
Unemployment rate: 8.9%
Percentage of people below the poverty line: 21.7%
Violent crime rate per 1,000 residents: 5.86
Property crime rate per 1,000 residents: 32.87
Annual cost of living (excluding housing): $17,927.39
46. Laredo, Texas
2020 average home value: $160,733
Livability score: 72
Median household income: $43,351
Unemployment rate: 9.1%
Percentage of people below the poverty line: 29.1%
Violent crime rate per 1,000 residents: 3.43
Property crime rate per 1,000 residents: 24.48
Annual cost of living (excluding housing): $18,374.20
45. Greensboro, North Carolina
2020 average home value: $171,514
Livability score: 68
Median household income: $46,702
Unemployment rate: 10.3%
Percentage of people below the poverty line: 18.5%
Violent crime rate per 1,000 residents: 6.41
Property crime rate per 1,000 residents: 33.67
Annual cost of living (excluding housing): $18,344.96
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44. Savannah, Georgia
2020 average home value: $184,775
Livability score: 65
Median household income: $41,093
Unemployment rate: 8.4%
Percentage of people below the poverty line: 22.9%
Violent crime rate per 1,000 residents: 3.99
Property crime rate per 1,000 residents: 23.98
Annual cost of living (excluding housing): $18,298.22
43. Lubbock, Texas
2020 average home value: $151,148
Livability score: 74
Median household income: $48,701
Unemployment rate: 6.4%
Percentage of people below the poverty line: 20.2%
Violent crime rate per 1,000 residents: 10.07
Property crime rate per 1,000 residents: 47.04
Annual cost of living (excluding housing): $17,570.81
42. Saint Petersburg, Florida
2020 average home value: $241,690
Livability score: 68
Median household income: $53,816
Unemployment rate: 10.1%
Percentage of people below the poverty line: 14.9%
Violent crime rate per 1,000 residents: 6.27
Property crime rate per 1,000 residents: 33.26
Annual cost of living (excluding housing): $19,833.35
41. Norfolk, Virginia
2020 average home value: $209,324
Livability score: 69
Median household income: $49,146
Unemployment rate: 9.3%
Percentage of people below the poverty line: 19.7%
Violent crime rate per 1,000 residents: 4.81
Property crime rate per 1,000 residents: 36.46
Annual cost of living (excluding housing): $18,710.44
40. Roanoke, Virginia
2020 average home value: $173,723
Livability score: 74
Median household income: $43,028
Unemployment rate: 7.7%
Percentage of people below the poverty line: 20.5%
Violent crime rate per 1,000 residents: 4.27
Property crime rate per 1,000 residents: 44.46
Annual cost of living (excluding housing): $18,365.46
39. Pensacola, Florida
2020 average home value: $161,460
Livability score: 70
Median household income: $48,686
Unemployment rate: 8.5%
Percentage of people below the poverty line: 17.8%
Violent crime rate per 1,000 residents: 5.50
Property crime rate per 1,000 residents: 39.29
Annual cost of living (excluding housing): $18,802.71
38. Jacksonville, Florida
2020 average home value: $204,596
Livability score: 67
Median household income: $52,576
Unemployment rate: 8.3%
Percentage of people below the poverty line: 15.9%
Violent crime rate per 1,000 residents: 5.99
Property crime rate per 1,000 residents: 33.93
Annual cost of living (excluding housing): $19,462.75
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37. Oklahoma City
2020 average home value: $145,922
Livability score: 77
Median household income: $54,034
Unemployment rate: 7.1%
Percentage of people below the poverty line: 16.8%
Violent crime rate per 1,000 residents: 8.75
Property crime rate per 1,000 residents: 40.81
Annual cost of living (excluding housing): $19,737.96
36. Saint Paul, Minnesota
2020 average home value: $242,768
Livability score: 69
Median household income: $55,085
Unemployment rate: 8.2%
Percentage of people below the poverty line: 19.9%
Violent crime rate per 1,000 residents: 6.62
Property crime rate per 1,000 residents: 35.01
Annual cost of living (excluding housing): $18,805.72
35. Edinburg, Texas
2020 average home value: $136,705
Livability score: 79
Median household income: $46,862
Unemployment rate: 12.5%
Percentage of people below the poverty line: 25.9%
Violent crime rate per 1,000 residents: 3.10
Property crime rate per 1,000 residents: 33.39
Annual cost of living (excluding housing): $17,507.63
34. Grand Rapids, Michigan
2020 average home value: $182,939
Livability score: 67
Median household income: $47,173
Unemployment rate: 8.4%
Percentage of people below the poverty line: 21.2%
Violent crime rate per 1,000 residents: 6.60
Property crime rate per 1,000 residents: 19.42
Annual cost of living (excluding housing): $18,097.21
33. San Antonio
2020 average home value: $190,049
Livability score: 77
Median household income: $50,980
Unemployment rate: 7.9%
Percentage of people below the poverty line: 18.6%
Violent crime rate per 1,000 residents: 6.33
Property crime rate per 1,000 residents: 40.35
Annual cost of living (excluding housing): $18,465.99
32. Columbus, Georgia
2020 average home value: $108,501
Livability score: 76
Median household income: $45,389
Unemployment rate: 6.8%
Percentage of people below the poverty line: 21.1%
Violent crime rate per 1,000 residents: 5.27
Property crime rate per 1,000 residents: 38.51
Annual cost of living (excluding housing): $17,901.11
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31. Corpus Christi, Texas
2020 average home value: $161,782
Livability score: 74
Median household income: $55,709
Unemployment rate: 10%
Percentage of people below the poverty line: 15.8%
Violent crime rate per 1,000 residents: 8.17
Property crime rate per 1,000 residents: 37.15
Annual cost of living (excluding housing): $18,096.13
30. Clarksville, Tennessee
2020 average home value: $185,361
Livability score: 66
Median household income: $53,007
Unemployment rate: 9.2%
Percentage of people below the poverty line: 14.7%
Violent crime rate per 1,000 residents: 6.66
Property crime rate per 1,000 residents: 29.14
Annual cost of living (excluding housing): $18,239.52
29. Newport News, Virginia
2020 average home value: $196,277
Livability score: 73
Median household income: $51,884
Unemployment rate: 9.3%
Percentage of people below the poverty line: 15.5%
Violent crime rate per 1,000 residents: 5.31
Property crime rate per 1,000 residents: 29.20
Annual cost of living (excluding housing): $19,278.63
28. Lakeland, Florida
2020 average home value: $183,852
Livability score: 81
Median household income: $44,313
Unemployment rate: 13.2%
Percentage of people below the poverty line: 17%
Violent crime rate per 1,000 residents: 3.28
Property crime rate per 1,000 residents: 30.96
Annual cost of living (excluding housing): $18,458.84
27. Columbus, Ohio
2020 average home value: $184,720
Livability score: 76
Median household income: $51,612
Unemployment rate: 6.8%
Percentage of people below the poverty line: 20.4%
Violent crime rate per 1,000 residents: 4.98
Property crime rate per 1,000 residents: 35.91
Annual cost of living (excluding housing): $18,241.35
26. Lawrenceville, Georgia
2020 average home value: $241,478
Livability score: 72
Median household income: $47,169
Unemployment rate: 8.5%
Percentage of people below the poverty line: 21.5%
Violent crime rate per 1,000 residents: 2.01
Property crime rate per 1,000 residents: 18.76
Annual cost of living (excluding housing): $18,824.48
25. Louisville, Kentucky
2020 average home value: $185,625
Livability score: 74
Median household income: $51,307
Unemployment rate: 6.4%
Percentage of people below the poverty line: 16.6%
Violent crime rate per 1,000 residents: 5.56
Property crime rate per 1,000 residents: 36.82
Annual cost of living (excluding housing): $18,478.91
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24. Odessa, Texas
2020 average home value: $181,934
Livability score: 67
Median household income: $63,145
Unemployment rate: 12.6%
Percentage of people below the poverty line: 10.7%
Violent crime rate per 1,000 residents: 9.16
Property crime rate per 1,000 residents: 25.35
Annual cost of living (excluding housing): $18,276.75
23. Pasadena, Texas
2020 average home value: $165,480
Livability score: 78
Median household income: $53,331
Unemployment rate: 9.4%
Percentage of people below the poverty line: 17.7%
Violent crime rate per 1,000 residents: 4.46
Property crime rate per 1,000 residents: 23.48
Annual cost of living (excluding housing): $19,703.33
22. Huntsville, Alabama
2020 average home value: $185,623
Livability score: 76
Median household income: $53,840
Unemployment rate: 6.3%
Percentage of people below the poverty line: 17.7%
Violent crime rate per 1,000 residents: 7.88
Property crime rate per 1,000 residents: 33.27
Annual cost of living (excluding housing): $18,303.84
21. Greenville, South Carolina
2020 average home value: $210,041
Livability score: 74
Median household income: $53,571
Unemployment rate: 7.9%
Percentage of people below the poverty line: 13.9%
Violent crime rate per 1,000 residents: 5.54
Property crime rate per 1,000 residents: 43.16
Annual cost of living (excluding housing): $18,066.88
20. Omaha, Nebraska
2020 average home value: $198,682
Livability score: 76
Median household income: $56,780
Unemployment rate: 5.9%
Percentage of people below the poverty line: 14.3%
Violent crime rate per 1,000 residents: 5.61
Property crime rate per 1,000 residents: 34.84
Annual cost of living (excluding housing): $19,798.90
19. Tyler, Texas
2020 average home value: $162,795
Livability score: 75
Median household income: $49,254
Unemployment rate: 7.2%
Percentage of people below the poverty line: 19.4%
Violent crime rate per 1,000 residents: 3.94
Property crime rate per 1,000 residents: 30.31
Annual cost of living (excluding housing): $17,864.46
18. Fort Worth, Texas
2020 average home value: $212,221
Livability score: 80
Median household income: $59,255
Unemployment rate: 7.5%
Percentage of people below the poverty line: 16%
Violent crime rate per 1,000 residents: 5.01
Property crime rate per 1,000 residents: 28.56
Annual cost of living (excluding housing): $20,115.28
17. Arlington, Texas
2020 average home value: $220,338
Livability score: 83
Median household income: $58,502
Unemployment rate: 7.5%
Percentage of people below the poverty line: 15.7%
Violent crime rate per 1,000 residents: 4.50
Property crime rate per 1,000 residents: 29.95
Annual cost of living (excluding housing): $20,152.55
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16. Amarillo, Texas
2020 average home value: $138,807
Livability score: 81
Median household income: $52,543
Unemployment rate: 5.1%
Percentage of people below the poverty line: 15.1%
Violent crime rate per 1,000 residents: 8.11
Property crime rate per 1,000 residents: 42.27
Annual cost of living (excluding housing): $17,623.13
15. El Paso, Texas
2020 average home value: $141,495
Livability score: 77
Median household income: $45,656
Unemployment rate: 8.7%
Percentage of people below the poverty line: 20%
Violent crime rate per 1,000 residents: 3.79
Property crime rate per 1,000 residents: 15.70
Annual cost of living (excluding housing): $17,828.29
14. Des Moines, Iowa
2020 average home value: $150,577
Livability score: 78
Median household income: $52,251
Unemployment rate: 6.9%
Percentage of people below the poverty line: 17.2%
Violent crime rate per 1,000 residents: 4.88
Property crime rate per 1,000 residents: 29.33
Annual cost of living (excluding housing): $18,211.42
13. Garland, Texas
2020 average home value: $212,002
Livability score: 79
Median household income: $58,999
Unemployment rate: 7.5%
Percentage of people below the poverty line: 14.2%
Violent crime rate per 1,000 residents: 2.72
Property crime rate per 1,000 residents: 26.75
Annual cost of living (excluding housing): $20,098.55
12. Lexington, Kentucky
2020 average home value: $210,407
Livability score: 75
Median household income: $54,918
Unemployment rate: 5.5%
Percentage of people below the poverty line: 17.8%
Violent crime rate per 1,000 residents: 3.09
Property crime rate per 1,000 residents: 33.85
Annual cost of living (excluding housing): $17,771.45
11. Lincoln, Nebraska
2020 average home value: $202,347
Livability score: 80
Median household income: $55,224
Unemployment rate: 5%
Percentage of people below the poverty line: 14.2%
Violent crime rate per 1,000 residents: 3.71
Property crime rate per 1,000 residents: 29.48
Annual cost of living (excluding housing): $18,962.01
10. Fort Wayne, Indiana
2020 average home value: $149,870
Livability score: 80
Median household income: $48,023
Unemployment rate: 8.2%
Percentage of people below the poverty line: 17.3%
Violent crime rate per 1,000 residents: 3.83
Property crime rate per 1,000 residents: 26.26
Annual cost of living (excluding housing): $16,598.33
9. Killeen, Texas
2020 average home value: $138,179
Livability score: 77
Median household income: $50,418
Unemployment rate: 7.1%
Percentage of people below the poverty line: 13.8%
Violent crime rate per 1,000 residents: 3.89
Property crime rate per 1,000 residents: 22.80
Annual cost of living (excluding housing): $17,783.86
8. Sioux Falls, South Dakota
2020 average home value: $227,536
Livability score: 72
Median household income: $59,017
Unemployment rate: 5.5%
Percentage of people below the poverty line: 11.3%
Violent crime rate per 1,000 residents: 4.33
Property crime rate per 1,000 residents: 29.07
Annual cost of living (excluding housing): $17,478.32
7. Irving, Texas
2020 average home value: $243,162
Livability score: 85
Median household income: $61,937
Unemployment rate: 7.5%
Percentage of people below the poverty line: 13.5%
Violent crime rate per 1,000 residents: 2.14
Property crime rate per 1,000 residents: 25.02
Annual cost of living (excluding housing): $19,760.57
6. Conroe, Texas
2020 average home value: $234,334
Livability score: 89
Median household income: $57,214
Unemployment rate: 9.4%
Percentage of people below the poverty line: 12.8%
Violent crime rate per 1,000 residents: 2.80
Property crime rate per 1,000 residents: 26.02
Annual cost of living (excluding housing): $18,623.70
5. Grand Prairie, Texas
2020 average home value: $223,551
Livability score: 83
Median household income: $65,249
Unemployment rate: 7.5%
Percentage of people below the poverty line: 12.1%
Violent crime rate per 1,000 residents: 2.55
Property crime rate per 1,000 residents: 20.07
Annual cost of living (excluding housing): $20,050.25
4. Port St. Lucie, Florida
2020 average home value: $242,908
Livability score: 81
Median household income: $57,113
Unemployment rate: 10.2%
Percentage of people below the poverty line: 10.1%
Violent crime rate per 1,000 residents: 1.12
Property crime rate per 1,000 residents: 9.48
Annual cost of living (excluding housing): $19,720.41
3. Spring, Texas
2020 average home value: $223,373
Livability score: 83
Median household income: $68,980
Unemployment rate: 9.4%
Percentage of people below the poverty line: 13%
Violent crime rate per 1,000 residents: 1.76
Property crime rate per 1,000 residents: 13.14
Annual cost of living (excluding housing): $20,182.96
2. Aurora, Illinois
2020 average home value: $198,118
Livability score: 77
Median household income: $69,730
Unemployment rate: 12%
Percentage of people below the poverty line: 12.6%
Violent crime rate per 1,000 residents: 2.70
Property crime rate per 1,000 residents: 11.59
Annual cost of living (excluding housing): $18,456.94
1. Edmond, Oklahoma
2020 average home value: $247,551
Livability score: 92
Median household income: $78,692
Unemployment rate: 7.1%
Percentage of people below the poverty line: 10.7%
Violent crime rate per 1,000 residents: 1.40
Property crime rate per 1,000 residents: 15.87
Annual cost of living (excluding housing): $20,040.87
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Methodology: In order to find the 50 best places to buy a home for under $250,000, GOBankingRates looked at the 100 most populous cities where home values in 2020 did not go above $250,000 and had a 2020 average below $250,000 according to Zillow’s 2020 data. Once these 100 cities were identified, GOBankingRates looked at the following factors: (1) median household income as sourced from the United States Census Bureau’s 2018 American Community Survey; (2) an overall livability score out of 100 sourced from AreaVibes; (3) violent crime rate per 1,000 residents and (4) property crime rate per 1,000 residents, both sourced from Neighborhood Scout; (5) Metropolitan Statistical Area unemployment rate from the Bureau of Labor Statistics’ preliminary data for July 2020; (6) percent of population living below the poverty line sourced from the United States Census Bureau’s 2018 American Community Survey; and (7) an annual cost-of-living expenditures estimate (groceries, healthcare, utilities and transportation), based on the Bureau of Labor Statistics’ 2018 Consumer Expenditure Survey and local cost-of-living indices sourced from Sperling’s Best Places. All factors were then scored and combined, with the lower score being best, and then ranked to give the final placements. All data was collected on and up to date as of Sept. 17, 2020.
This article originally appeared on GOBankingRates.com: The 50 Best Places To Buy a Home for Under $250,000