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The Cheapest States to Buy a House in 2018

July 23 2018
by Leisl Bailey

the cheapest states to buy a house in 2018

Are you looking to relocate to a less expensive housing market? In some parts of the country, real estate prices are soaring, leaving many potential homebuyers feeling completely priced out of the areas they once called home.

Luckily, this isn’t the case nationwide. There are still many areas where, although housing is competitive, it’s still relatively affordable for the average homeowner.

In 2018, the Deep South and the Midwest are the cheapest places to buy a home.

The Cheapest States to Buy a House in 2018

If you’re looking for a bit of real estate relief, here’s where you should considering moving:

West Virginia

Capital: Charleston

Average Annual Salary: $23,400

Median Home Price: $312,000

If you are looking for some country roads to take you home, then West Virginia is the place for you. The state’s rolling mountains aren’t all it has to offer. It is also a hub for biotech industries, chemical development, and a national leader in energy.

Kansas

Capital: Topeka

Average Annual Salary: $28,900

Median Home Price: $274,000

Once you move to Kansas, you’ll be as homesick for it as Dorothy and Toto if you ever leave. The prairies of Kansas boast some of the most productive agricultural land in the country with a low cost of living to boot.

Oklahoma

Capital: Oklahoma City

Average Annual Salary: $26,000

Median Home Price: $264,000

Not many states can say they’ve got a musical named after them. If you move to Oklahoma, you will soon understand what all the hype is about. Due to its low cost of housing, the Sooner State is one of the cheapest states to buy a house in 2018.

Nebraska

Capital: Lincoln

Average Annual Salary: $30,400

Median Home Price: $305,000

Nebraska is more than just farmland! Yes, Nebraska is one of the top agricultural producers in the country, but it also is brimming with jobs in the shipping and manufacturing industries. In fact, Nebraska consistently has one of the lowest unemployment rates in the country.

Michigan

Capital: Lansing

Average Annual Salary: $27,000

Median Home Price: $262,000

Michigan is a state in transition. Internationally known for the automotive hub of Detroit, the state’s current economy might hold a few surprises. Michigan is currently the largest producer of Christmas Trees and the home of two pizza empires: Domino’s and Little Caesar’s.

Iowa

Capital: Des Moines

Average Annual Salary: $30,000

Median Home Price: $294,400

When you buy a home in Iowa, you buy a bit of America’s heartland. Unemployment in Iowa is at an all-time low (just 2.7%!) and the economy is booming – making it one of the cheapest places to buy a house in 2018.

Indiana

Capital: Indianapolis

Average Annual Salary: $27,000

Median Home Price: $265,600

Having a job in the big city doesn’t mean you have to pay big city housing prices! Indiana is a great place to live because many places in the northern area of the state are within commuting distance to Chicago, Illinois, which has a much more expensive housing market.

Ohio

Capital: Columbus

Average Annual Salary: $27,500

Median Home Price: $264,000

Ohio is one of the cheapest states to buy a house, and, based on current housing trends, one of the hottest states to move to in 2018. The capital city of Columbus boasts 2.4% in yearly job growth. About 23% and counting of the current population is currently under 35 as well, making it an up and coming place to be.

Nearby Cincinnati has similar stats. The number of available jobs grows by about 2.3% each year and roughly 20% of the population is under 35.

Because of their job growth, culture, and low cost of living, both cities are constantly included in the “what’s what” of chic and affordable places to live.

Kentucky

Capital: Frankfort

Average Annual Salary: $24,800

Median Home Price: $281,900

There is more than just fried chicken to the Bluegrass State. Often overlooked by homebuyers looking to relocate, Kentucky has some of the best landscapes in the country. Combine that with a strong jobs sector covering transportation logistics, automotive manufacturing, and healthcare, and you’ve got the near perfect place to move.

Texas

Capital: Austin

Average Annual Salary: $56,600

Median Home Price: $279,000

High salaries. Low housing prices. Friendly folks. The Lone Star State is one of the cheapest places to buy a house because of how much money there is to be made in the state. The capital city of Austin is experiencing a tech boom, while the coastal city of Houston is currently home to 19 Fortune 500 company headquarters.

Looking for the perfect agent to guide you through a cross-country move? Clever helps you find a local, flat fee full-service agent that not only has expertise in your market, they don’t cost an arm and a leg to provide it. Call us today at   1-833-2-CLEVER or fill out our online form to get started.