If you’ve been house hunting in major cities, you’re probably feeling defeated. High mortgage rates, record prices, and stiff competition were supposed to be a trend, but they’re still here.
Fortunately, real estate agents have the intel on where to find a house under $300,000, and you may end up closer to those desirable metros than you imagined as you prepare for retirement .
Here are the 10 best cities to get a house for under $300,000.
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1. Cape Coral, Florida
“ Cape Coral is a fantastic place for buyers on a budget,” says Jeffrey Borham, Owner and CEO of Team Borham with EXP Realty in Tampa, FL. He explains that this unique city offers surprisingly affordable waterfront properties, particularly in the northern parts of the region.
“I recently worked with a young couple who purchased a three-bedroom home for $285,000 in Cape Coral,” Borham elaborates. “They were thrilled to find a property close to schools and parks, with enough space for their growing family.”
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“ Palm Bay is another hidden gem on Florida’s Space Coast,” says Borham. “It’s one of the most affordable cities in Brevard County, with many homes available under $300,000. The area is great for families and retirees alike, with easy access to beaches and nature preserves.”
Borham recently worked with a retired couple who purchased a two-bedroom home in a quiet neighborhood for just under $250,000.
He adds, “They were drawn to the area because of its proximity to the Indian River Lagoon and the affordability compared to other coastal towns.”
3. Port St. Lucie, Florida
Borham has a client who recently purchased a four-bedroom home for $295,000 in a Port St. Lucie community with great amenities like a pool and clubhouse.
“They were particularly excited about the future appreciation potential as more people discover the area,” he explains. “The city is family-friendly, with good schools and a low crime rate. You can find newer homes, often in planned communities, for under $300,000.”
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4. Des Moines, Iowa
“Des Moines is one of the few places where you can still find homes under $300,000, not only within the city but also in its surrounding suburbs,” says Antonio Romero, a Realtor with Exit Realty Capital City.
“A typical home under $300,000 in Des Moines and surrounding suburbs could be three to four bedrooms with two to three bathrooms,” he adds. Romero explains that Des Moines offers the best in urban and suburban living, with both convenience and quiet.
“Des Moines is consistently ranked as one of the best places to live in the U.S. due to its vibrant community and abundant recreational opportunities,” he explains. “The city boasts a strong sense of community, diverse cultural amenities, and a thriving downtown area, all while maintaining affordability.”
5. Pflugerville, Texas
“Pflugerville is close to Austin but offers newer subdivision homes under $300,000,” notes Crystal Olenbush, a Realtor with AustinRealEstate.com.
She points out that while Austin has become increasingly competitive, outlying areas still have affordable homes. You’ll have all the access to Austin culture but with a relaxed and suburban lifestyle.
6. Manor, Texas
“Manor is another east Austin option that provides good value,” Olenbush adds. “The small town feel paired with easy commuter access into the city makes it practical. And you'll find lots of new construction starting in the high $200s.”
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“In Richland County, the median home prices are still well under $300,000, including $280,000 and under,” says Joetta Irving Talford, Principal and Broker-in-charge at Talford Realty International. “It’s an area where we are seeing an uptick in seniors relocating.”
She adds that there is a small international airport, access to health care, and specialty grocery stores, like Whole Foods.
“The other thing this area offers is property tax exemptions to a number of individuals: homestead exemptions for seniors, owner occupants, visually impaired residents, and disabled veterans,” explains Talford.
8. Gainesville, Georgia
Jessica Wade, a Realtor with eXp Realty, holds her Senior Real Estate Specialist Designation (SRES) from the National Association of Realtors, so she knows real estate for retirees.
“Gainesville is a great area because of the weather,” Wade boasts. “We do get all four seasons but rarely get a lot of snow.
“We also have good healthcare in the area. Our regional medical organization is Northeast Georgia Health System, and they have a major trauma hospital in Gainesville.”
Gainesville is also a quick drive to Atlanta, which is a plus when you have a family you need to fly to visit. And when you’re enjoying your free time in retirement, Wade adds, “We also have a lot of great outdoor things to do. We have Lake Lanier and Lake Hartwell, which are great for boating and fishing.
9. Fort Myers, Florida
Mark Washburn, a Realtor with Premiere Plus Realty in Fort Myers, Florida, has seen that the Gulf Coast's balmy temperatures are drawing in buyers looking to find a place to put roots. They want to find prices under $300,000. Luckily, several communities cater to that group.
“Del Vera Country Club is a gated community centered around a golf course,” says Washburn. “Homes under $300,000 typically feature two bedrooms, two bathrooms, and open floor plans."
“They’re designed in what we call the classic ‘Florida style’ with one story and a large great room that opens onto a screened porch and small yard, perfect for enjoying the Florida sunshine."
“Sabal Springs is also a gated 55+ community designed for active adults looking for a low-maintenance lifestyle.”
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10. Maricopa, Arizona
"Depending on where you want to live and the type of home you want to live in or invest in, you can still find options under $300,000 just outside of the Phoenix metro area,” says Rebecca Hidalgo Rains, CEO and Managing Broker of Integrity All Stars Realty in Phoenix, Arizona.
“There are a lot of great home deals in areas like Maricopa, Florence, and Casa Grande, but the downside is you might have a significant commute if you work in the Valley proper,” Hidalgo Rains adds.
But this may matter even less for those on the verge of retiring. You’ll enjoy the Arizona weather without worrying about navigating rush hour.
“Commutes are less of a deal breaker for some buyers since work has become more receptive to work-from-home or hybrid work schedules,” says Hidalgo Rains.
Bottom line
There are houses under $300,000 to be found near major metropolitan areas, but you need to be prepared for the commute.
You can still travel to the big city for events, evenings out, or to visit a museum, but you’ll have more space and a cheaper cost of living in the surrounding suburban and rural areas.
And, when you’re closing in on retirement, those extra savings matter, so you won’t be struggling to find ways to pay the mortgage every month.
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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