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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.

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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: $159,000

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.

Arkansas

Capital: Little Rock

Average Annual Salary: $55,484

Median Home Price: $174,900

Arkansas’s Ozark Mountains aren’t the only beautiful thing about the state. Despite getting fewer accolades than other southern states, Arkansas has a rich history and is full of natural resources. No matter where you settle down in Arkansas, you’re sure to be close to some stellar views.

Kansas

Capital: Topeka

Average Annual Salary: $28,900

Median Home Price: $194,500

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.

Missouri

Capital: Jefferson City

Average Annual Salary: $51,746

Median Home Price: $179,900

Smack dab in the middle of the country is a state that’s got more depth than you might think. Bookended by St. Louis (home of Clever HQ!) and Kansas City, from east to west and north to south, Missouri has plenty of things to do and places to see.

Oklahoma

Capital: Oklahoma City

Average Annual Salary: $26,000

Median Home Price: $183,421

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.

Alabama

Capital: Montgomery

Average Annual Salary: $59,764

Median Home Price: $204,900

You might have some preconceived notions about Alabama and while some of them might be correct, you’d be surprised how much the rest of the country gets wrong about Alabama. Reckon with our country’s complicated history in Birmingham, explore the ins and outs of Montgomery and Mobile, and even hit the beach in popular spring break destination Gulf Shores.

Nebraska

Capital: Lincoln

Average Annual Salary: $30,400

Median Home Price: $209,000

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: $185,000

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: Dominoes and Little Caesar’s.

Iowa

Capital: Des Moines

Average Annual Salary: $30,000

Median Home Price: $180,000

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: $184,900

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: $169,900

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: $184,900

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.

Louisiana

Capital: Baton Rouge

Average Annual Salary: $45,146

Median Home Price: $212,000

New Orleans is probably the first thing that comes to mind when you think of Louisiana, and for good reason. It’s one of the most exciting cities in the US and is home to celebrities like Beyonce, Sandra Bullock, and Lil Wayne. There’s more to Louisiana than NOLA though, as you’ll quickly find out if you move there.

Pennsylvania

Capital: Harrisburg

Average Annual Salary: $56,907

Median Home Price: $215,900

There’s plenty to do and see in Pennsylvania. From the bridges of Pittsburgh to the streets of Philly and everything in between, there’s no shortage of reasons to move to the Keystone State.

New Mexico

Capital: Santa Fe

Average Annual Salary: $46,748

Median Home Price: $227,000

Dreaming of living in a sunbaked pueblo? New Mexico’s the spot for you. Rich in Native American history surrounded by a truly unique landscape, New Mexico is one of the most beautiful states in the Union. Go for it.

Illinois

Capital: Springfield

Average Annual Salary: $60,960

Median Home Price: $236,490

The Land of Lincoln is more than just Chicago and farm fields. Though Illinois has its statewide problems (what state doesn’t?), people there enjoy the variety of sights to see and places to go. From visiting Abraham Lincoln’s boyhood home to walking the streets of Chicago’s Loop, Illinois is a delightful place to call home.

Maine

Capital: Augusta

Average Annual Salary: $53,079

Median Home Price: $245,000

The northernmost state in the lower 48, Maine’s reputation for great ocean views and amazing seafood isn’t overstated. While parts of the state can definitely be classed as remote, there’s no doubt that Maine is one of our most beautiful states.

South Carolina

Capital: Columbia

Average Annual Salary: $49,501

Median Home Price: $249,900

In the mood for a beach? South Carolina is a more affordable choice than Florida or California with all the benefits: beautiful views, friendly people, and history like you wouldn’t believe. Walk the charming streets of Charleston before heading out to the beach on Hilton Head Island; you’ll quickly want to call South Carolina home.

Georgia

Capital: Atlanta

Average Annual Salary: $53,559

Median Home Price: $259,000

While the first thing you think of when you think of Georgia might be Atlanta (and we don’t blame you; Hotlanta is an awesome city), there’s a lot more to this southern state than meets the eye.

Texas

Capital: Austin

Average Annual Salary: $56,600

Median Home Price: $279,900

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.