The 70611 zip code in Lake Charles, Louisiana tops our ranking of the most affordable places to live in the South.
We looked at 3618 zip codes in the region, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in the South
The South includes Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Lake Charles, LA 🥇 | 100.0 | $250,410 | $930 |
| 2 | Ponca City, OK🥈 | 98.9 | $86,925 | $772 |
| 3 | Enid, OK 🥉 | 98.8 | $78,554 | $833 |
| 4 | Shreveport, LA | 98.8 | $121,307 | $992 |
| 5 | Deridder, LA | 98.8 | $177,304 | $1,005 |
| 6 | West Monroe, LA | 97.9 | $146,253 | $875 |
| 7 | Plainview, TX | 97.7 | $116,077 | $825 |
| 8 | Wheeling, WV | 96.9 | $156,577 | $822 |
| 9 | Pleasant Valley, WV | 96.9 | $182,390 | $1,006 |
| 10 | Big Spring, TX | 96.7 | $140,875 | $1,207 |
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1. Lake Charles, Louisiana
Here's why the 70611 zip code in Lake Charles is the region's most affordable place to live.
🔎 Key data about Lake Charles
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $250,410[1] | No. 97 | -$71,902.54 |
| Home affordability ratio | 2.5 | No. 13 | -1.6 |
| Home value five-year change | 10.4%[2] | No. 96 | -18.5% |
| Home value one-year forecast | -4.1%[3] | No. 27 | -4.0% |
| Rental costs | $930[4] | No. 5 | -$710 |
| Rent affordability ratio | 0.91% | No. 1 | -1.2% |
| Median household income | $101,844[5] | No. 7 | $23,304 |
| Property taxes | $1,587[6] | No. 96 | -$690 |
| Energy costs | $0.14 kWh[7] | No. 136 | $0.01 |
Lake Charles's 70611 zip code is the cheapest place to live in the South, leading the 3618 markets we evaluated.
The median home value is $250,410, making it the 97th-cheapest housing market in the region. Forecasts project a -4.1% change in home values in the next year. Rent in the zip code averages $930 per month, which is the 1st-cheapest amount in the South.
The median property tax for homeowners in Lake Charles is $1,587 per household, the No. 96 ranked market in the South.
Residents pay $0.14 per kWh of electricity, which ranks No. 136 among the region's markets.
2. Ponca City, Oklahoma
The 74601 zip code is the 2nd-cheapest place to live in the South.
🔎 Key data about Ponca City
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.9 | No. 2 | N/A |
| Median home value | $86,925[8] | No. 2 | -$235,387.87 |
| Home affordability ratio | 1.7 | No. 2 | -2.4 |
| Home value five-year change | 23.8%[9] | No. 14 | -5.2% |
| Home value one-year forecast | -1.4%[10] | No. 2 | -1.3% |
| Rental costs | $772[11] | No. 1 | -$868 |
| Rent affordability ratio | 1.48% | No. 6 | -0.6% |
| Median household income | $52,067[12] | No. 89 | -$26,473 |
| Property taxes | $600[13] | No. 3 | -$1,677 |
| Energy costs | $0.13 kWh[14] | No. 89 | $0.00 |
Ponca City's 74601 zip code has a median home value of $86,925, which is the 2nd-cheapest housing market in the South. You can rent for an average of $772 per month. That's the 1st-cheapest price in the region.
The average household income in the zip code is $52,067, which ranks 89th-highest in the South.
Homeowners in Ponca City pay a median property tax of $600 per year, making it the 3rd-most affordable market in the region.
Ponca City ranks No. 89 among the region's energy markets. You'll pay $0.13 per kWh of electricity.
3. Enid, Oklahoma
The 3rd-cheapest place to live in the South is Enid's 73701 zip code.
🔎 Key data about Enid
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.8 | No. 3 | N/A |
| Median home value | $78,554[15] | No. 1 | -$243,758.82 |
| Home affordability ratio | 1.5 | No. 1 | -2.5 |
| Home value five-year change | 11.3%[16] | No. 2 | -17.6% |
| Home value one-year forecast | -0.5%[17] | No. 4 | -0.4% |
| Rental costs | $833[18] | No. 2 | -$807 |
| Rent affordability ratio | 1.64% | No. 15 | -0.5% |
| Median household income | $50,843[19] | No. 94 | -$27,697 |
| Property taxes | $863[20] | No. 16 | -$1,414 |
| Energy costs | $0.12 kWh[21] | No. 49 | $0.00 |
The No. 1 cheapest housing market in the South is Enid's 73701 zip code, with a median home value of $78,554. Rents in the market average $833 per month, making it the 2nd-most affordable rental market in the region.
The median property tax for households in Enid is $863, which makes it the 16th-cheapest place in the South. Enid ranks No. 49 among the region's markets by energy costs. Residents pay $0.12 per kWh of electricity.
4. Shreveport, Louisiana
The 71104 zip code in Shreveport comes in at No. 4 on our list of the cheapest places to live in the South.
🔎 Key data about Shreveport
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.8 | No. 4 | N/A |
| Median home value | $121,307[22] | No. 20 | -$201,004.98 |
| Home affordability ratio | 2.1 | No. 8 | -1.9 |
| Home value five-year change | 3.5%[23] | No. 11 | -25.4% |
| Home value one-year forecast | -2.9%[24] | No. 83 | -2.8% |
| Rental costs | $992[25] | No. 7 | -$649 |
| Rent affordability ratio | 1.74% | No. 20 | -0.4% |
| Median household income | $56,833[26] | No. 79 | -$21,707 |
| Property taxes | $1,053[27] | No. 67 | -$1,224 |
| Energy costs | $0.13 kWh[28] | No. 132 | $0.01 |
The No. 4 cheapest housing market in the South is Shreveport's 71104 zip code, where the median home value is $121,307. Renters here pay an average of $992 per month.
When it comes to energy costs, Shreveport ranks 132nd among the region's markets. Residents pay $0.13 per kWh of electricity.
The median property tax for households in the zip code is $1,053, which makes it the 67th-cheapest market in the South.
5. Deridder, Louisiana
The 70634 zip code in Deridder ranks No. 5 among the region's most affordable places to live.
🔎 Key data about Deridder
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.8 | No. 5 | N/A |
| Median home value | $177,304[29] | No. 48 | -$145,008.34 |
| Home affordability ratio | 2.8 | No. 34 | -1.2 |
| Home value five-year change | 3.5%[30] | No. 11 | -25.4% |
| Home value one-year forecast | -5.4%[31] | No. 8 | -5.3% |
| Rental costs | $1,005[32] | No. 9 | -$635 |
| Rent affordability ratio | 1.60% | No. 12 | -0.5% |
| Median household income | $62,940[33] | No. 61 | -$15,600 |
| Property taxes | $520[34] | No. 29 | -$1,757 |
| Energy costs | $0.13 kWh[35] | No. 129 | $0.01 |
Deridder's 70634 zip code has a median home value of $177,304, the 48th-cheapest market in the region. Forecasts project a -5.4% change in home values in the next year.
The median property tax per household in Deridder is $520. It's the 29th-cheapest market by tax rate in the South.
6. West Monroe, Louisiana
The No. 6 most affordable place to live in the South is the 71292 zip code in West Monroe.
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🔎 Key data about West Monroe
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.9 | No. 6 | N/A |
| Median home value | $146,253[36] | No. 31 | -$176,059.14 |
| Home affordability ratio | 2.8 | No. 36 | -1.2 |
| Home value five-year change | 3.5%[37] | No. 11 | -25.4% |
| Home value one-year forecast | -2.1%[38] | No. 109 | -2.0% |
| Rental costs | $875[39] | No. 3 | -$765 |
| Rent affordability ratio | 1.70% | No. 19 | -0.4% |
| Median household income | $51,355[40] | No. 98 | -$27,185 |
| Property taxes | $633[41] | No. 40 | -$1,644 |
| Energy costs | $0.12 kWh[42] | No. 31 | -$0.01 |
The back half of our top 10 kicks off with West Monroe's 71292 zip code, which has the 31st-cheapest home values in the South. The median home value is $146,253. Rents average $875 per month, making it the 3rd-most affordable rental market in the region.
Residents pay $0.12 per kWh of electricity. It's the 31st-cheapest energy market.
7. Plainview, Texas
Plainview's 79072 zip code is the 7th-cheapest place to live in the South.
🔎 Key data about Plainview
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.7 | No. 7 | N/A |
| Median home value | $116,077[43] | No. 15 | -$206,235.03 |
| Home affordability ratio | 2.5 | No. 24 | -1.6 |
| Home value five-year change | 3.3%[44] | No. 17 | -25.6% |
| Home value one-year forecast | -4.3%[45] | No. 9 | -4.2% |
| Rental costs | $825[46] | No. 1 | -$815 |
| Rent affordability ratio | 1.75% | No. 223 | -0.4% |
| Median household income | $47,255[47] | No. 717 | -$31,285 |
| Property taxes | $1,579[48] | No. 49 | -$698 |
| Energy costs | $0.13 kWh[49] | No. 205 | $0.00 |
You'll find the 15th-cheapest home values in the South in Plainview's 79072 zip code. The median value: $116,077. Renters in Plainview pay an average of $825 per month.
Homeowners in Plainview pay a median property tax of $1,579 per year, which is the region's 49th-most affordable market.
The average household income is $47,255, which ranks 717th-highest in the South.
8. Wheeling, West Virginia
The 8th-cheapest place to live in the South is Wheeling's 26003 zip code.
🔎 Key data about Wheeling
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.9 | No. 8 | N/A |
| Median home value | $156,577[50] | No. 12 | -$165,735.72 |
| Home affordability ratio | 2.7 | No. 13 | -1.3 |
| Home value five-year change | 16.8%[51] | No. 4 | -12.1% |
| Home value one-year forecast | -2.5%[52] | No. 2 | -2.4% |
| Rental costs | $822[53] | No. 2 | -$818 |
| Rent affordability ratio | 1.42% | No. 5 | -0.7% |
| Median household income | $57,703[54] | No. 24 | -$20,837 |
| Property taxes | $963[55] | No. 16 | -$1,314 |
| Energy costs | $0.16 kWh[56] | No. 23 | $0.03 |
The 12th-cheapest housing market in the South is Wheeling's 26003 zip code, with a median home value of $156,577. Renters pay an average of $822 per month, the No. 2 rental market in the region.
The median property tax for households in Wheeling is $963, which makes it the 16th-cheapest place in the South. The average household income of $57,703 ranks 24th.
9. Pleasant Valley, West Virginia
Pleasant Valley's 26554 zip code sneaks into the top ten of the region's most affordable places to live.
🔎 Key data about Pleasant Valley
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.9 | No. 9 | N/A |
| Median home value | $182,390[57] | No. 20 | -$139,921.92 |
| Home affordability ratio | 2.6 | No. 9 | -1.4 |
| Home value five-year change | 20.0%[58] | No. 6 | -8.9% |
| Home value one-year forecast | -1.6%[59] | No. 4 | -1.5% |
| Rental costs | $1,006[60] | No. 8 | -$635 |
| Rent affordability ratio | 1.44% | No. 6 | -0.7% |
| Median household income | $69,712[61] | No. 14 | -$8,828 |
| Property taxes | $1,053[62] | No. 21 | -$1,224 |
| Energy costs | $0.14 kWh[63] | No. 6 | $0.02 |
The 20th-cheapest housing market in the South is Pleasant Valley's 26554 zip code, where the median home value is $182,390. Renters pay an average of $1,006 per month. It's the region's 8th-cheapest rental market.
The median property tax for households within the zip code is $1,053, which makes it the 21st-cheapest property tax rate in the South.
10. Big Spring, Texas
The final spot on our list of the most affordable places to live in the South goes to the 79720 zip code in Big Spring.
🔎 Key data about Big Spring
| Data point | Value | Rank (out of 3618 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.7 | No. 10 | N/A |
| Median home value | $140,875[64] | No. 40 | -$181,437.20 |
| Home affordability ratio | 2.0 | No. 6 | -2.0 |
| Home value five-year change | 23.0%[65] | No. 384 | -5.9% |
| Home value one-year forecast | -5.9%[66] | No. 7 | -5.8% |
| Rental costs | $1,207[67] | No. 81 | -$433 |
| Rent affordability ratio | 1.76% | No. 226 | -0.3% |
| Median household income | $68,785[68] | No. 462 | -$9,755 |
| Property taxes | $1,454[69] | No. 36 | -$823 |
| Energy costs | $0.12 kWh[70] | No. 52 | -$0.01 |
The 40th-most affordable housing market in the South is Big Spring's 79720 zip code. The median home value is $140,875. Rent in the market costs $1,207 per month on average, making it the 81st-most affordable rental market in the South.
The median property tax for households in Big Spring is $1,454, which is the 36th-cheapest property tax rate in the region.
Big Spring ranks No. 52 among South markets by energy costs, with households paying $0.12 per kWh of electricity.
How we ranked the most affordable places in the South
We evaluated 3618 zip codes in the South with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a region by zip code.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in the South, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the regional average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the regional average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
