Minnesota Town Crowned 'Cheapest Place To Buy A Home' In The Entire State

While home prices continue to rise in certain regions across Minnesota, one town in particular remains affordable. Something about this location allows realtors to sell property at a cheaper rate than most, making it an extremely affordable place to live. Population and price were a few of the factors considered in the search for the cheapest place to buy a home across the state, and the results might surprise you.

If you've been looking for the most affordable area to buy a home in Minnesota , look no further than this cost-effective gem!

According to a list compiled by GOBankingRates , the cheapest place to buy a home in Minnesota is Elmore. Homes in Elmore cost an average of $66,721. For reference, the average cost of a house in America last year was $327,000.

Here's what GOBankingRates had to say about compiling the data to discover the cheapest place to buy a home in each state:

"To find the least expensive places to buy a home, GOBankingRates used data from Zillow Home Value Index (ZHVI) and the U.S. Census Bureau regarding population in order to analyze every significant city in all 50 states and chose the one place in each locale where houses are a steal."

For a continued list of the cheapest places to buy property in the entire country visit gobankingrates.com .