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.
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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 buying a home is 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 hometown is one of the places where you can expect to be able to buy a home for a price that’s not outrageous.
DenisTangneyJr / Getty Images/iStockphoto 50. Bowling Green, Kentucky 2022 average home value: $237,894 Livability score: 73 Median household income: $43,633 Unemployment rate: 3.2% Percentage of people below the poverty line: 25.0% Violent crime rate per 1,000 residents: 3.67 Property crime rate per 1,000 residents: 38.31
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©Shutterstock.com 49. Kansas City, Missouri 2022 average home value: $212,643 Livability score: 58 Median household income: $60,042 Unemployment rate: 2.4% Percentage of people below the poverty line: 15.0% Violent crime rate per 1,000 residents: 14.58 Property crime rate per 1,000 residents: 42.70
Know: 10 Things Frugal People Always Do When They First Buy a House
gnagel / Getty Images 48. Wichita, Kansas 2022 average home value: $175,602 Livability score: 60 Median household income: $56,374 Unemployment rate: 2.9% Percentage of people below the poverty line: 15.2% Violent crime rate per 1,000 residents: 11.76 Property crime rate per 1,000 residents: 47.28
Sean Pavone / Shutterstock.com 47. Montgomery, Alabama 2022 average home value: $128,088 Livability score: 65 Median household income: $49,989 Unemployment rate: 2.5% Percentage of people below the poverty line: 21.2% Violent crime rate per 1,000 residents: 6.18 Property crime rate per 1,000 residents: 36.23 Jon Bilous / Shutterstock.com
46. Winston-Salem, North Carolina 2022 average home value: $217,990 Livability score: 64 Median household income: $50,204 Unemployment rate: 3.1% Percentage of people below the poverty line: 19.0% Violent crime rate per 1,000 residents: 11.49 Property crime rate per 1,000 residents: 40.36 Sean Pavone / Shutterstock.com 45. Columbus, Georgia 2022 average home value: $138,836 Livability score: 60 Median household income: $50,542 Unemployment rate: 3.3% Percentage of people below the poverty line: 19.5% Violent crime rate per 1,000 residents: 7.17 Property crime rate per 1,000 residents: 26.34
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DenisTangneyJr / Getty Images/iStockphoto 44. Evansville, Indiana 2022 average home value: $167,195 Livability score: 58 Median household income: $45,649 Unemployment rate: 2.3% Percentage of people below the poverty line: 19.9% Violent crime rate per 1,000 residents: 7.44 Property crime rate per 1,000 residents: 36.71 Paul Brady Photography / Shutterstock.com 43. Springfield, Illinois 2022 average home value: $135,537 Livability score: 61 Median household income: $57,596 Unemployment rate: 3.6% Percentage of people below the poverty line: 18.5% Violent crime rate per 1,000 residents: 8.38 Property crime rate per 1,000 residents: 38.12 Tiago_Fernandez / Getty Images 42. Elkhart, Indiana 2022 average home value: $185,429 Livability score: 65 Median household income: $43,868 Unemployment rate: 2.5% Percentage of people below the poverty line: 19.6% Violent crime rate per 1,000 residents: 12.85 Property crime rate per 1,000 residents: 31.40 dszc / Getty Images 41. Lubbock, Texas 2022 average home value: $195,999 Livability score: 68 Median household income: $54,060 Unemployment rate: 2.9% Percentage of people below the poverty line: 19.4% Violent crime rate per 1,000 residents: 10.85 Property crime rate per 1,000 residents: 38.53 Find Out: Housing Market 2024: Zillow Predicts 5 Hottest Home Trends That Homebuyers Will Be Looking For
Jacob Boomsma / Shutterstock.com 40. Lafayette, Louisiana 2022 average home value: $202,790 Livability score: 73 Median household income: $55,329 Unemployment rate: 3.1% Percentage of people below the poverty line: 19.5% Violent crime rate per 1,000 residents: 6.04 Property crime rate per 1,000 residents: 41.26 Mig Esc / Wikimedia Commons 39. Topeka, Kansas 2022 average home value: $159,014 Livability score: 61 Median household income: $50,870 Unemployment rate: 2.7% Percentage of people below the poverty line: 15.2% Violent crime rate per 1,000 residents: 7.11 Property crime rate per 1,000 residents: 45.16 ©Shutterstock.com 38. Corpus Christi, Texas 2022 average home value: $205,269 Livability score: 69 Median household income: $59,993 Unemployment rate: 4.5% Percentage of people below the poverty line: 17.0% Violent crime rate per 1,000 residents: 8.79 Property crime rate per 1,000 residents: 32.65 mandritoiu / Shutterstock.com 37. Pittsburgh, Pennsylvania 2022 average home value: $211,339 Livability score: 75 Median household income: $54,036 Unemployment rate: 3.7% Percentage of people below the poverty line: 19.7% Violent crime rate per 1,000 residents: 5.98 Property crime rate per 1,000 residents: 30.02 Next: Housing Market 2024: Avoid Buying a Home in These 4 California Cities
MechanicSloth / Shutterstock.com 36. McAllen, Texas 2022 average home value: $195,966 Livability score: 81 Median household income: $52,422 Unemployment rate: 6.8% Percentage of people below the poverty line: 21.0% Violent crime rate per 1,000 residents: 1.82 Property crime rate per 1,000 residents: 18.27 SeanPavonePhoto / Getty Images/iStockphoto 35. Greensboro, North Carolina 2022 average home value: $228,026 Livability score: 66 Median household income: $51,667 Unemployment rate: 3.6% Percentage of people below the poverty line: 17.4% Violent crime rate per 1,000 residents: 8.86 Property crime rate per 1,000 residents: 36.0 Mark Taylor Cunningham / Shutterstock.com 34. Pasadena, Texas 2022 average home value: $206,139 Livability score: 71 Median household income: $61,182 Unemployment rate: 3.9% Percentage of people below the poverty line: 17.9% Violent crime rate per 1,000 residents: 6.35 Property crime rate per 1,000 residents: 25.24 Americasroof / Wikimedia Commons 33. Kansas City, Kansas 2022 average home value: $161,492 Livability score: 59 Median household income: $50,707 Unemployment rate: 2.4% Percentage of people below the poverty line: 18.4% Violent crime rate per 1,000 residents: 4.72 Property crime rate per 1,000 residents: 21.54 Discover: 7 Safest and Cheapest Cities To Live in Florida
©Shutterstock.com 32. Louisville, Kentucky 2022 average home value: $224,899 Livability score: 64 Median household income: $58,357 Unemployment rate: 2.7% Percentage of people below the poverty line: 15.2% Violent crime rate per 1,000 residents: 9.79 Property crime rate per 1,000 residents: 33.0 DenisTangneyJr / Getty Images/iStockphoto 31. Wichita Falls, Texas 2022 average home value: $147,753 Livability score: 75 Median household income: $50,856 Unemployment rate: 3.3% Percentage of people below the poverty line: 18.5% Violent crime rate per 1,000 residents: 5.82 Property crime rate per 1,000 residents: 31.59 DenisTangneyJr / Getty Images/iStockphoto 30. Grand Rapids, Michigan 2022 average home value: $238,003 Livability score: 67 Median household income: $55,385 Unemployment rate: 3.1% Percentage of people below the poverty line: 18.6% Violent crime rate per 1,000 residents: 9.82 Property crime rate per 1,000 residents: 25.81 ©Shutterstock.com 29. Lake Charles, Louisiana 2022 average home value: $181,000 Livability score: 70 Median household income: $49,913 Unemployment rate: 3.0% Percentage of people below the poverty line: 20.8% Violent crime rate per 1,000 residents: 4.69 Property crime rate per 1,000 residents: 24.24 Read: I’m a Real Estate Agent: 5 Cities Where Homes Will Be the Best Bargains in 2024
Anya Douglas / Shutterstock.com 28. Jacksonville, North Carolina 2022 average home value: $205,393 Livability score: 71 Median household income: $47,483 Unemployment rate: 3.7% Percentage of people below the poverty line: 16.3% Violent crime rate per 1,000 residents: 3.76 Property crime rate per 1,000 residents: 19.09 Giorgia Basso / Shutterstock.com 27. Killeen, Texas 2022 average home value: $213,014 Livability score: 67 Median household income: $52,072 Unemployment rate: 4.0% Percentage of people below the poverty line: 15.7% Violent crime rate per 1,000 residents: 6.19 Property crime rate per 1,000 residents: 17.18 DenisTangneyJr / Getty Images/iStockphoto 26. Davenport, Iowa 2022 average home value: $160,993 Livability score: 69 Median household income: $56,315 Unemployment rate: 3.7% Percentage of people below the poverty line: 15.8% Violent crime rate per 1,000 residents: 6.63 Property crime rate per 1,000 residents: 36.16 Darren56brown / Wikimedia Commons 25. Warren, Michigan 2022 average home value: $184,946 Livability score: 70 Median household income: $55,153 Unemployment rate: 3.2% Percentage of people below the poverty line: 15.3% Violent crime rate per 1,000 residents: 5.24 Property crime rate per 1,000 residents: 15.61 See: I Retired Early: Why Real Estate Investing Was the Secret to My Success
WilliamSherman / Getty Images/iStockphoto 24. Roanoke, Virginia 2022 average home value: $224,331 Livability score: 75 Median household income: $48,476 Unemployment rate: 2.6% Percentage of people below the poverty line: 18.4% Violent crime rate per 1,000 residents: 4.90 Property crime rate per 1,000 residents: 38.77 Joseph Sohm / Shutterstock.com 23. Indianapolis, Indiana 2022 average home value: $212,980 Livability score: 65 Median household income: $54,321 Unemployment rate: 2.2% Percentage of people below the poverty line: 16.4% Violent crime rate per 1,000 residents: 7.32 Property crime rate per 1,000 residents: 35.20 DenisTangneyJr / Getty Images/iStockphoto 22. Laredo, Texas 2022 average home value: $196,466 Livability score: 72 Median household income: $55,603 Unemployment rate: 3.7% Percentage of people below the poverty line: 22.2% Violent crime rate per 1,000 residents: 3.15 Property crime rate per 1,000 residents: 12.37 ©Shutterstock.com 21. High Point, North Carolina 2022 average home value: $206,176 Livability score: 62 Median household income: $54,331 Unemployment rate: 3.6% Percentage of people below the poverty line: 14.6% Violent crime rate per 1,000 residents: 5.22 Property crime rate per 1,000 residents: 27.82 Check Out: These 5 Cities Are Becoming Popular With Baby Boomers: Should You Consider Them for Your Retirement Years?
DenisTangneyJr / Getty Images/iStockphoto 20. Odessa, Texas 2022 average home value: $198,665 Livability score: 63 Median household income: $66,769 Unemployment rate: 3.8% Percentage of people below the poverty line: 13.4% Violent crime rate per 1,000 residents: 5.92 Property crime rate per 1,000 residents: 25.98 BOB WESTON / Getty Images/iStockphoto 19. Bryan, Texas 2022 average home value: $239,999 Livability score: 73 Median household income: $49,181 Unemployment rate: 2.8% Percentage of people below the poverty line: 23.5% Violent crime rate per 1,000 residents: 5.79 Property crime rate per 1,000 residents: 19.60 Long_Strange_Trip_01 / Getty Images/iStockphoto 18. Columbus, Ohio 2022 average home value: $235,400 Livability score: 73 Median household income: $58,575 Unemployment rate: 3.1% Percentage of people below the poverty line: 18.4% Violent crime rate per 1,000 residents: 5.96 Property crime rate per 1,000 residents: 33.16 ©Shutterstock.com 17. Oklahoma City, Oklahoma 2022 average home value: $182,569 Livability score: 69 Median household income: $59,679 Unemployment rate: 2.4% Percentage of people below the poverty line: 14.9% Violent crime rate per 1,000 residents: 6.29 Property crime rate per 1,000 residents: 37.37 Learn: Barbara Corcoran Says Now Is the ‘Best Time’ To Buy a House: Here’s Why
Sharon Day / Shutterstock.com 16. Independence, Missouri 2022 average home value: $177,135 Livability score: 71 Median household income: $53,996 Unemployment rate: 2.4% Percentage of people below the poverty line: 14.3% Violent crime rate per 1,000 residents: 5.52 Property crime rate per 1,000 residents: 35.88 RossHelen / Getty Images/iStockphoto 15. El Paso, Texas 2022 average home value: $190,159 Livability score: 74 Median household income: $51,325 Unemployment rate: 4.0% Percentage of people below the poverty line: 18.3% Violent crime rate per 1,000 residents: 2.54 Property crime rate per 1,000 residents: 12.73 NSA Digital Archive / Getty Images/iStockphoto 14. Hamilton, Iowa 2022 average home value: $241,626 Livability score: 74 Median household income: $50,034 Unemployment rate: 3.1% Percentage of people below the poverty line: 16.4% Violent crime rate per 1,000 residents: 4.92 Property crime rate per 1,000 residents: 31.95 photoquest7 / Getty Images/iStockphoto 13. Pensacola, Florida 2022 average home value: $234,795 Livability score: 69 Median household income: $59,119 Unemployment rate: 2.3% Percentage of people below the poverty line: 15.3% Violent crime rate per 1,000 residents: 6.22 Property crime rate per 1,000 residents: 27.74 Check Out: 3 Ways Upper-Middle-Class Retirees Stay Rich in Retirement
12. Longview, Texas 2022 average home value: $200,386 Livability score: 78 Median household income: $53,854 Unemployment rate: 4.0% Percentage of people below the poverty line: 18.6% Violent crime rate per 1,000 residents: 3.50 Property crime rate per 1,000 residents: 25.23 DenisTangneyJr / Getty Images/iStockphoto 11. Abilene, Texas 2022 average home value: $174,950 Livability score: 75 Median household income: $54,493 Unemployment rate: 3.2% Percentage of people below the poverty line: 15.4% Violent crime rate per 1,000 residents: 4.78 Property crime rate per 1,000 residents: 20.68 Gimas / Shutterstock.com 10. Amarillo, Texas 2022 average home value: $181,193 Livability score: 73 Median household income: $55,174 Unemployment rate: 2.6% Percentage of people below the poverty line: 15.8% Violent crime rate per 1,000 residents: 7.46 Property crime rate per 1,000 residents: 33.71 Malcom K / Flickr.com 9. Tyler, Texas 2022 average home value: $222,562 Livability score: 70 Median household income: $58,385 Unemployment rate: 3.3% Percentage of people below the poverty line: 14.9% Violent crime rate per 1,000 residents: 4.50 Property crime rate per 1,000 residents: 26.44 Know: How Far a $100,000 Salary Goes in America’s 50 Largest Cities
DenisTangneyJr / Getty Images 8. Norman, Oklahoma 2022 average home value: $227,192 Livability score: 76 Median household income: $59,866 Unemployment rate: 2.4% Percentage of people below the poverty line: 16.7% Violent crime rate per 1,000 residents: 3.17 Property crime rate per 1,000 residents: 31.23 ©Shutterstock.com 7. Hampton, Virginia 2022 average home value: $233,401 Livability score: 72 Median household income: $59,380 Unemployment rate: 3.0% Percentage of people below the poverty line: 14.4% Violent crime rate per 1,000 residents: 2.87 Property crime rate per 1,000 residents: 24.99 pabradyphoto / Getty Images 6. Des Moines, Iowa 2022 average home value: $179,879 Livability score: 75 Median household income: $58,444 Unemployment rate: 2.8% Percentage of people below the poverty line: 15.3% Violent crime rate per 1,000 residents: 6.32 Property crime rate per 1,000 residents: 31.89 ©Shutterstock.com 5. Lynchburg, Virgina 2022 average home value: $216,265 Livability score: 82 Median household income: $54,015 Unemployment rate: 2.9% Percentage of people below the poverty line: 17.6% Violent crime rate per 1,000 residents: 4.20 Property crime rate per 1,000 residents: 20.90 Read: Net Worth Floridians: How Much to Be Poor, Middle-Class, or Rich in Florida
Jacob Boomsma / Shutterstock.com 4. Greenbay, Wisconsin 2022 average home value: $206,384 Livability score: 70 Median household income: $55,221 Unemployment rate: 2.1% Percentage of people below the poverty line: 15.4% Violent crime rate per 1,000 residents: 4.54 Property crime rate per 1,000 residents: 15.22 DenisTangneyJr / Getty Images/iStockphoto 3. Joliet, Illinois 2022 average home value: $205,688 Livability score: 70 Median household income: $77,373 Unemployment rate: 4.2% Percentage of people below the poverty line: 10.7% Violent crime rate per 1,000 residents: 5.05 Property crime rate per 1,000 residents: 11.51 DenisTangneyJr / Getty Images/iStockphoto 2. Fort Wayne, Indiana 2022 average home value: $195,509 Livability score: 75 Median household income: $53,978 Unemployment rate: 2.2% Percentage of people below the poverty line: 15.5% Violent crime rate per 1,000 residents: 2.64 Property crime rate per 1,000 residents: 23.13 Manuel Hurtado / Shutterstock.com 1. Cedar Rapids, Iowa 2022 average home value: $187,941 Livability score: 76 Median household income: $63,170 Unemployment rate: 3.5% Percentage of people below the poverty line: 11.2% Violent crime rate per 1,000 residents: 3.41 Property crime rate per 1,000 residents: 26.78 Joel Anderson contributed to the reporting for this article.
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 from Jan. 2022 to Jan. 2023 did not go above $250,000 and had an average during that same period below $250,000 according to Zillow’s Jan. 2023 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 2021 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 1,000residents, both sourced from Neighborhood Scout; (5) Metropolitan Statistical Area unemployment rate from the Bureau of Labor Statistics’ preliminary data for December 2022; (6) percent of population living below the poverty line sourced from the United States Census Bureau’s 2021 American Community Survey; and (7) an annual cost of living expenditures estimate (groceries, healthcare, utilities and transportation), based on the Bureau of Labor Statistics’ 2021 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 March 9, 2023.
This article originally appeared on GOBankingRates.com : The 50 Best Places To Buy a Home for Under $250,000
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