Housing News

The 10 Cheapest States to Buy a Home Right Now

For homebuyers watching the spring market warm up, the question isn't just what to buy—but where your dollar will stretch the furthest.

With the national median home price holding steady at $424,900 this March, according to the latest Monthly Housing Report from Realtor.com, affordability likely remains front of mind for buyers across the country. While home prices haven’t surged since the same time last year, they haven’t softened much either.

That’s why those entering the market for the first time or looking to relocate without breaking the bank may want to consider moving to states where home prices may be a bit more reasonable.  

The good news? There are still plenty of places across the U.S. where homeownership is within reach. Realtor.com’s March data reveals that the number of homes on the market has risen for the 17th straight month. There were 28.5% more listings year-over year, giving buyers more choices—and more leverage.

Indeed, with all those additional homes for buyers to choose from, more sellers are trimming asking prices. About 17.5% of listings had price reductions. In some states, those shifts are combining with already-lower median prices to create real financial opportunities.

These 10 states currently offer the most budget-friendly median list prices. Here’s what you’ll pay for—and why these places are worth a look.

1. West Virginia

Median home price: $259,000*

Median days on market: 65*

Increase in the number of homes for sale year-over-year: 6.1%*

Located in the Appalachian region of the United States, West Virginia boasts some of the lowest housing costs in the country. This makes it a good place to live for people who want to save money, especially those who are moving from more expensive locales on the East Coast.

“West Virginia continues to be one of the best-kept secrets in the country, but word is getting out,” said Joshua McGrath of Better Homes and Gardens Real estate in Charleston, W. Va. “Whether it’s a charming craftsman in town or a few peaceful acres with a front porch and a view, your dollar stretches further in the Mountain State, offering not just a house, but a way of life.”

Job hunters will also find opportunities in different industries, including healthcare, energy production, and manufacturing.

2. Ohio

Median home price: $269,000

Median days on market: 42

Increase in the number of homes for sale year-over-year: 24.6%

The Buckeye State is also a top pick for home shoppers seeking affordability.

The city of Akron is leading the charge, with homes there costing a wallet-friendly median $225,000 in March, according to Realtor.com data.

Another financial bonus for families with college-age children is Shawnee State University, in Portsmouth, which offers free college to Ohio residents with a 3.0 GPA.

3. Michigan

Median home price: $275,000

Day on market: 50

Increase in the number of homes for sale year-over-year: 14.8%

Michigan offers value across both urban and rural markets, from up-and-coming Detroit neighborhoods to charming towns along Lake Michigan. With median home prices well below the national median, the Great Lakes State may be a smart place to buy for first-time homeowners.

And the bargains also come with abundant natural beauty.

“When it comes to living in Michigan, I feel the main attraction is the ability to drive a few hours North of Detroit and witness the beautiful rural areas with access to many of our great lakes,” said real estate agent Jason Gelios with Community Choice Realty in Southeast Michigan.

“Michigan residents, or as they often go by Michiganders, love being able to travel up North to get away from it all,” he said.

4. Louisiana

Median home price: $279,000

Median days on market: 75

Increase in the number of homes for sale year-over-year: 16.2%

In Louisiana, median prices remain stable, and the market continues to favor buyers. Baton Rouge and Lafayette are especially popular among those home shoppers seeking historic charm and affordability in equal measure.

In Baton Rouge, the median listing home price was $295,000, while Lafayette has a median listing price of $245,949.

5. Iowa

Median home price: $284,900

Median days on market: 64

Increase in the number of homes for sale year-over-year: 23.1%

The Hawkeye State offers affordability in the Midwest, with a housing market that’s largely remained steady even as national prices fluctuate.

Des Moines continues to be a standout for value with homes. As for employment opportunities, the city is a major insurance hub.

6. Kansas

Median home price: $289,000

Median days on market: 57

Increase in the number of homes for sale year-over-year: 19.9%

Kansas consistently delivers on affordability. Wichita and Topeka offer some of the lowest price-per-square-foot values in the region, with homes going for a median of $252,000 and $172,500, respectively.

7. Indiana  

Median home price: $289,900

Median days on market: 47

Increase in the number of homes for sale year-over-year: 24.6%

Housing stock is on the rise in Indiana. And buyers are seeing more price cuts this spring, with 46% of homes seeing list prices slashed.

With many homes priced under $300,000, it remains a Midwest stronghold for affordability.

8. Mississippi

Median home price: $291,650

Median days on market: 68

Increase in the number of homes for sale year-over-year: 19.2%

Mississippi’s cost of housing remains well below the national average.

Gulf Coast towns like Pascagoula (median listing home price of $130,000) are seeing a quiet resurgence, offering both low prices and scenic appeal.

9. Arkansas   

Median home price: $295,000

Median days on market: 60

Increase in the number of homes for sale year-over-year: 25.5%

Arkansas has a lot of open land, a low cost of living, and a strong demand for homes—especially in smaller towns and semi-rural areas.

With the average home price usually under $300,000, buyers here may be able to get a USDA loan to use to purchase a home. This loan has no down payment and low mortgage interest rates for areas that are eligible. That could make homeownership even more accessible in this already affordable state.

10. Missouri

Median home price: $299,500

Median days on market: 53

Increase in the number of homes for sale year-over-year: 23.5%

Missouri rounds out the list, with affordable options in both urban hubs like St. Louis and Kansas City and smaller cities across the state. Price reductions are up 27.7% year-over-year, offering added leverage for spring buyers.

Funding your home purchase

Of course, finding an affordable state is just one part of the equation—how you finance the home matters, too.

First-time buyers might explore FHA loans with lower down payment requirements, while eligible veterans could benefit from VA loan options. Those considering moving outside of a city may be eligible for USDA loan.

Or you may want to consider a Conventional loan, the most popular type of mortgage.

^{* Data is from Realtor.com from March 2025.}