The 70601 zip code in Lake Charles, Louisiana tops our ranking of the most affordable places to live in the South.
We looked at 3708 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 🥇 | 97.1 | $88,233 | $925 |
| 2 | Lawton, OK🥈 | 97.0 | $113,107 | $907 |
| 3 | Shreveport, LA 🥉 | 96.4 | $119,004 | $924 |
| 4 | Cumberland, MD | 96.4 | $139,702 | $916 |
| 5 | Beaumont, TX | 96.1 | $85,740 | $946 |
| 6 | Wheeling, WV | 95.8 | $141,215 | $828 |
| 7 | Houma, LA | 95.7 | $184,128 | $1,173 |
| 8 | Enid, OK | 94.8 | $70,352 | $1,364 |
| 9 | Deridder, LA | 94.8 | $167,472 | $1,207 |
| 10 | Weirton, WV | 94.7 | $135,959 | $758 |
Buy in the South and get cash back
Get matched with a top agent in Lake Charles, Louisiana, or any other affordable place in the region. Compare your money-saving options until you find the perfect fit, or walk away with no obligation.
1. Lake Charles, Louisiana
Here's why the 70601 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 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.1 | No. 1 | N/A |
| Median home value | $88,233[1] | No. 11 | -$221,395.86 |
| Home affordability ratio | 1.8 | No. 5 | -2.4 |
| Home value five-year change | 8.5%[2] | No. 38 | -35.0% |
| Home value one-year forecast | -9.0%[3] | No. 1 | -9.6% |
| Rental costs | $925[4] | No. 6 | -$744 |
| Rent affordability ratio | 1.91% | No. 24 | -0.4% |
| Median household income | $48,385[5] | No. 101 | -$24,645 |
| Property taxes | $340[6] | No. 12 | -$1,836 |
| Energy costs | $0.14 kWh[7] | No. 67 | $0.01 |
Lake Charles's 70601 zip code is the cheapest place to live in the South, leading the 3708 markets we evaluated.
The median home value is $88,233, making it the 11th-cheapest housing market in the region. Forecasts project a -9.0% change in home values in the next year. Rent in the zip code averages $925 per month, which is the 24th-cheapest amount in the South.
The median property tax for homeowners in Lake Charles is $340 per household, the No. 12 ranked market in the South.
Residents pay $0.14 per kWh of electricity, which ranks No. 67 among the region's markets.
2. Lawton, Oklahoma
The 73507 zip code is the 2nd-cheapest place to live in the South.
🔎 Key data about Lawton
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.0 | No. 2 | N/A |
| Median home value | $113,107[8] | No. 17 | -$196,521.03 |
| Home affordability ratio | 1.8 | No. 4 | -2.4 |
| Home value five-year change | 31.0%[9] | No. 9 | -12.4% |
| Home value one-year forecast | 0.4%[10] | No. 10 | -0.2% |
| Rental costs | $907[11] | No. 5 | -$763 |
| Rent affordability ratio | 1.42% | No. 3 | -0.9% |
| Median household income | $63,924[12] | No. 46 | -$9,106 |
| Property taxes | $1,313[13] | No. 48 | -$863 |
| Energy costs | $0.12 kWh[14] | No. 1 | $0.00 |
Lawton's 73507 zip code has a median home value of $113,107, which is the 10th-cheapest housing market in the South. You can rent for an average of $907 per month. That's the 5th-cheapest price in the region.
The average household income in the zip code is $63,924, which ranks 46th-highest in the South.
Homeowners in Lawton pay a median property tax of $1,313 per year, making it the 48th-most affordable market in the region.
Lawton ranks No. 1 among the region's energy markets. You'll pay $0.12 per kWh of electricity.
3. Shreveport, Louisiana
The 3rd-cheapest place to live in the South is Shreveport's 71104 zip code.
🔎 Key data about Shreveport
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 3 | N/A |
| Median home value | $119,004[15] | No. 22 | -$190,623.97 |
| Home affordability ratio | 2.4 | No. 14 | -1.8 |
| Home value five-year change | 12.2%[16] | No. 87 | -31.3% |
| Home value one-year forecast | -3.3%[17] | No. 80 | -3.9% |
| Rental costs | $924[18] | No. 5 | -$746 |
| Rent affordability ratio | 1.83% | No. 19 | -0.5% |
| Median household income | $50,554[19] | No. 93 | -$22,476 |
| Property taxes | $1,034[20] | No. 66 | -$1,142 |
| Energy costs | $0.13 kWh[21] | No. 36 | $0.01 |
The No. 22 cheapest housing market in the South is Shreveport's 71104 zip code, with a median home value of $119,004. Rents in the market average $924 per month, making it the 5th-most affordable rental market in the region.
The median property tax for households in Shreveport is $1,034, which makes it the 66th-cheapest place in the South. Shreveport ranks No. 36 among the region's markets by energy costs. Residents pay $0.13 per kWh of electricity.
4. Cumberland, Maryland
The 21502 zip code in Cumberland comes in at No. 4 on our list of the cheapest places to live in the South.
🔎 Key data about Cumberland
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 4 | N/A |
| Median home value | $139,702[22] | No. 6 | -$169,926.10 |
| Home affordability ratio | 2.5 | No. 5 | -1.7 |
| Home value five-year change | 35.9%[23] | No. 134 | -7.5% |
| Home value one-year forecast | 0.0%[24] | No. 166 | -0.6% |
| Rental costs | $916[25] | No. 1 | -$754 |
| Rent affordability ratio | 1.61% | No. 12 | -0.7% |
| Median household income | $56,958[26] | No. 167 | -$16,072 |
| Property taxes | $1,694[27] | No. 4 | -$482 |
| Energy costs | $0.07 kWh[28] | No. 1 | -$0.05 |
The No. 4 cheapest housing market in the South is Cumberland's 21502 zip code, where the median home value is $139,702. Renters here pay an average of $916 per month.
When it comes to energy costs, Cumberland ranks 1st among the region's markets. Residents pay $0.07 per kWh of electricity.
The median property tax for households in the zip code is $1,694, which makes it the 4th-cheapest market in the South.
5. Beaumont, Texas
The 77701 zip code in Beaumont ranks No. 5 among the region's most affordable places to live.
🔎 Key data about Beaumont
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.1 | No. 5 | N/A |
| Median home value | $85,740[29] | No. 5 | -$223,888.34 |
| Home affordability ratio | 1.8 | No. 4 | -2.3 |
| Home value five-year change | 7.0%[30] | No. 16 | -36.4% |
| Home value one-year forecast | -4.5%[31] | No. 12 | -5.1% |
| Rental costs | $946[32] | No. 8 | -$723 |
| Rent affordability ratio | 2.03% | No. 263 | -0.3% |
| Median household income | $46,653[33] | No. 699 | -$26,377 |
| Property taxes | $939[34] | No. 4 | -$1,237 |
| Energy costs | $0.13 kWh[35] | No. 31 | $0.01 |
Beaumont's 77701 zip code has a median home value of $85,740, the 5th-cheapest market in the region. Forecasts project a -4.5% change in home values in the next year.
The median property tax per household in Beaumont is $939. It's the 4th-cheapest market by tax rate in the South.
6. Wheeling, West Virginia
The No. 6 most affordable place to live in the South is the 26003 zip code in Wheeling.
.
🔎 Key data about Wheeling
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.8 | No. 6 | N/A |
| Median home value | $141,215[36] | No. 10 | -$168,413.54 |
| Home affordability ratio | 2.49223184 | No. 7 | -1.7 |
| Home value five-year change | 0.2589885045[37] | No. 4 | -17.6% |
| Home value one-year forecast | -2%[38] | No. 2 | -2.6% |
| Rental costs | $828[39] | No. 2 | -$841 |
| Rent affordability ratio | 1.46% | No. 2 | -0.8% |
| Median household income | 56662[40] | No. 24 | -$16,368 |
| Property taxes | $940[41] | No. 16 | -$1,236 |
| Energy costs | 0.1376231531 kWh[42] | No. 24 | $0.01 |
The back half of our top 10 kicks off with Wheeling's 26003 zip code, which has the 10th-cheapest home values in the South. The median home value is $141,215. Rents average $828 per month, making it the 2nd-most affordable rental market in the region.
Residents pay 0.1376231531 per kWh of electricity. It's the 24th-cheapest energy market.
7. Houma, Louisiana
Houma's 70364 zip code is the 7th-cheapest place to live in the South.
🔎 Key data about Houma
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.7 | No. 7 | N/A |
| Median home value | $184,128[43] | No. 65 | -$125,500.66 |
| Home affordability ratio | 2.632163433 | No. 21 | -1.5 |
| Home value five-year change | 0.05524899057[44] | No. 24 | -37.9% |
| Home value one-year forecast | -6.9%[45] | No. 8 | -7.5% |
| Rental costs | $1,173[46] | No. 18 | -$496 |
| Rent affordability ratio | 1.68% | No. 13 | -0.6% |
| Median household income | 69953[47] | No. 39 | -$3,077 |
| Property taxes | $669[48] | No. 48 | -$1,507 |
| Energy costs | 0.1269472466 kWh[49] | No. 1 | $0.00 |
You'll find the 65th-cheapest home values in the South in Houma's 70364 zip code. The median value: $184,128. Renters in Houma pay an average of $1,173 per month.
Homeowners in Houma pay a median property tax of $669 per year, which is the region's 48th-most affordable market.
The average household income is 69953, which ranks 39th-highest in the South.
8. Enid, Oklahoma
The 8th-cheapest place to live in the South is Enid's 73701 zip code.
🔎 Key data about Enid
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.8 | No. 8 | N/A |
| Median home value | $70,352[50] | No. 1 | -$239,276.77 |
| Home affordability ratio | 1.350811587 | No. 1 | -2.8 |
| Home value five-year change | 0.2039968562[51] | No. 2 | -23.1% |
| Home value one-year forecast | -1.1%[52] | No. 2 | -1.7% |
| Rental costs | $1,364[53] | No. 45 | -$305 |
| Rent affordability ratio | 2.05% | No. 38 | -0.3% |
| Median household income | 52081[54] | No. 82 | -$20,949 |
| Property taxes | $802[55] | No. 17 | -$1,374 |
| Energy costs | 0.1264163922 kWh[56] | No. 58 | $0.00 |
The 1st-cheapest housing market in the South is Enid's 73701 zip code, with a median home value of $70,352. Renters pay an average of $1,364 per month, the No. 45 rental market in the region.
The median property tax for households in Enid is $802, which makes it the 17th-cheapest place in the South. The average household income of 52081 ranks 82nd.
9. Deridder, Louisiana
Deridder's 70634 zip code sneaks into the top ten of the region's most affordable places to live.
🔎 Key data about Deridder
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.8 | No. 9 | N/A |
| Median home value | $167,472[57] | No. 50 | -$142,156.19 |
| Home affordability ratio | 2.450896339 | No. 16 | -1.7 |
| Home value five-year change | 0.08467482665[58] | No. 38 | -35.0% |
| Home value one-year forecast | -7.1%[59] | No. 6 | -7.7% |
| Rental costs | $1,207[60] | No. 21 | -$462 |
| Rent affordability ratio | 1.77% | No. 16 | -0.5% |
| Median household income | 68331[61] | No. 41 | -$4,699 |
| Property taxes | $488[62] | No. 28 | -$1,688 |
| Energy costs | 0.1400793149 kWh[63] | No. 123 | $0.02 |
The 50th-cheapest housing market in the South is Deridder's 70634 zip code, where the median home value is $167,472. Renters pay an average of $1,207 per month. It's the region's 21st-cheapest rental market.
The median property tax for households within the zip code is $488, which makes it the 28th-cheapest property tax rate in the South.
10. Weirton, West Virginia
The final spot on our list of the most affordable places to live in the South goes to the 26062 zip code in Weirton.
🔎 Key data about Weirton
| Data point | Value | Rank (out of 3708 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.7 | No. 10 | N/A |
| Median home value | $135,959[64] | No. 8 | -$173,669.29 |
| Home affordability ratio | 2.334743099 | No. 3 | -1.8 |
| Home value five-year change | 0.4610918173[65] | No. 23 | 2.7% |
| Home value one-year forecast | 0.6%[66] | No. 21 | 0.0% |
| Rental costs | $758[67] | No. 1 | -$911 |
| Rent affordability ratio | 1.30% | No. 1 | -1.0% |
| Median household income | 58233[68] | No. 21 | -$14,797 |
| Property taxes | $776[69] | No. 11 | -$1,400 |
| Energy costs | 0.1156601132 kWh[70] | No. 7 | -$0.01 |
The 8th-most affordable housing market in the South is Weirton's 26062 zip code. The median home value is $135,959. Rent in the market costs $758 per month on average, making it the 1st-most affordable rental market in the South.
The median property tax for households in Weirton is $776, which is the 11th-cheapest property tax rate in the region.
Weirton ranks No. 7 among South markets by energy costs, with households paying 0.1156601132 per kWh of electricity.
How we ranked the most affordable places in the South
We evaluated 3708 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 23.8% 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 23.8% 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 4.8% 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 4.8% 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 11.9% 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 4.8% 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 11.9% 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 7.1% 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 7.1% to energy costs.
