11 Cities Where You Can Still Buy a House for Under $250,000

While the busy spring and summer real estate market may have increased median sale prices, there are plenty of U.S. cities where you can get a home for under $250,000.

If you want to get ahead financially by buying a home for less than $250K, maybe one of these cities is right for you.

1. Cleveland, Ohio

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Cleveland, a humble gem along the coast of Lake Erie, boasts excellent restaurants and museums. Visitors (and potential residents) should check out the Cleveland Museum of Art, the Great Lakes Science Center, and the Rock & Roll Hall of Fame.

According to the real estate website Redfin, the median sale price for a home in Cleveland was $125,000 in June 2024.

Pro tip: If you choose to visit any of these cities, consider booking your trip with a travel credit card to earn points and miles.

2. Columbus, Georgia

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Columbus is a city of over 200,000 located on the Alabama border. Like many housing markets, it has seen a slow and steady increase over the last several years.

According to Redfin, the median home price in the river city reached $235,000 in June, an increase of 11.7% from the same time a year earlier.

3. Birmingham, Alabama

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The historic city of Birmingham has also seen a decrease in home prices, with the median sale price dropping 1.6% since the same time last year.

Buyers can expect to pay around $211,000, which is the median sale price according to Redfin as of Jun 2024.

4. Detroit, Michigan

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Detroit can be a great hometown if you want to live near water or in a city on the upswing with plenty of new restaurants and cool nightlife.

The median home sale price in the city is well under $250,000 at $85,000 in June, which is easily affordable for some buyers. Prices, however, will be higher as you move to more popular neighborhoods in the city.

Because it’s a rebuilding city, know that you may have to consider rehabbing a home.

5. Rochester, New York

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Upstate New York is where you’ll find Rochester, which sits on the shore of Lake Ontario and is the home of the Rochester Institute of Technology. Rochester is also the headquarters for Xerox, Wegmans, and Paychex.

The average price of a home in Rochester was $162,900 in June. Rochester is a good option if you want to live in a less expensive area of New York State.

6. Baltimore, Maryland

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The home of the Baltimore Orioles and Baltimore Ravens is also home to affordable housing.

Redfin placed the median home sale price in Baltimore at $240,000 in June 2024, which is up 4.3% since the same time last year.

7. Memphis, Tennessee

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The home of Elvis Presley could also be the next place you call home.

While you may not be able to buy Graceland, you could buy a home in Memphis for a median sale price of $190,000 in June. That represents a 7.3% decrease in price compared to a year earlier.

8. Springfield, Illinois

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Springfield, the state capital of Illinois, has experienced many ups and downs in the housing market over the last several years.

Depending on what you’re looking for, you can find a decent two- to three-bedroom home for $183,000, a 4.3% jump from the previous year.

9. Des Moines, Iowa

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Looking for a good Midwestern town to buy a house? Consider Des Moines.

The capital of Iowa had a median sale price of $216,500 in February, which is well under those looking within the $250,000 range.

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10. Lubbock, Texas

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This small town in West Texas near the New Mexico border may seem like it's in the middle of nowhere, but it boasts easy access to an international airport and is home to Texas Tech University.

The city's median sale price was $230,000 in June, a 5% drop from the same time a year earlier.

11. Wichita, Kansas

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Another great Midwest city to consider is Wichita, the largest city in Kansas.

You could find a home there for a median sale price of $225,800 in June, marking a 4.5% decrease compared to a year earlier.

Bottom line

Finding the right mortgage lender is a crucial first step to securing your dream home.

A knowledgeable lender can guide you through the process, explain your options, and ensure you won't need help paying your mortgage every month.

This will put you in a strong position to move forward with confidence, knowing you have the financial security to manage your new homeownership journey.

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