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10 U.S. Cities With the Most Homes Under $200,000, New Data Shows

Despite shrinking inventory and sky-high interest rates, there are deals to be found.

If you've ever watched an episode of House Hunters in both disbelief and jealousy at the incredibly low home prices, you'll want to keep reading. A new report from reveals 10 U.S. cities with the most homes under $200,000—and this is despite shrinking inventory and sky-high interest rates.

"Over the past several years, the number of homes under $200,000 has gone from around half of all sales to less than a quarter of sales in 2023," according to the report, which notes that this price point is "inarguably attractive" for first-time homebuyers, retirees, and those living on a fixed income.

"With current mortgage rates hovering around 7 percent, the monthly payment on a $200,000 home with a 20 percent down payment would be around $1,500—that's less than the national median rent of $1732," they add.

Using recent listing data from cities with more than 100 total homes for sale, the data analysts at ranked the U.S. cities with the most homes listed under $200,000 and compared that to their overall number of listings. They then compiled this list of 10 locales, which you might find quite surprising. Read on to learn about these hidden pockets of affordability before their housing stock is gone.

RELATED: The 20 Most Affordable U.S. Cities for Retirees, New Research Shows.

Cleveland, Ohio

cleveland ohio skyline at dusk

Median list price: $135,475
Number of listings under $200,000: 512
Percentage of listings under $200,000: 61

"Nowhere is there a more consistent swath of affordable homes in 2024 than in the Upper Midwest," says the report—and two of these cities are in northern Ohio, the first being Cleveland.

It's not just prospective buyers who may find Cleveland affordable; a Jan. 2024 Rent Report from research technology firm Rent found that rents in the city had declined by 6.19 percent, the 12th largest decline of all U.S. cities.

Rockford, Illinois

Rockford, Illinois bridge at night
Henryk Sadura / Shutterstock

Median list price: $164,950
Number of listings under $200,000: 153
Percentage of listings under $200,000: 66

Rockford is the fifth-largest city in Illinois, lying about 90 miles west of Chicago. It even has its own international airport—not a bad location if you can get in for under $200,000.

RELATED: 6 Red Flags About Online Real Estate Listings, According to Experts.

Lansing, Michigan

lansing michigan skyline

Median list price: $143,950
Number of listings under $200,000: 133
Percentage of listings under $200,000: 68

Michigan's capital city is home to Michigan State University, countless cultural attractions, and a 20-mile river trail. It is just 90 miles from Detroit and 66 miles from Ann Arbor.

And it's a great time to consider buying in the city, as there are several large development plans on the table, along with the nationally recognized Stadium District development.

Albany, Georgia

Aerial view of the Flint River in downtown Albany, Georgia
Kofi A. Oliver / Shutterstock

Median list price: $104,000
Number of listings under $200,000: 245
Percentage of listings under $200,000: 64

This southwestern Georgia city not only has affordable homes for sale but also "an overall lower cost of living," according to "Compared with Atlanta, where the cost of living is near the national average, housing in Albany is 40 percent less expensive," their experts write.

"With lower living costs and increasing inventory, cities like Albany provide great value for homebuyers," said Hannah Jones, a senior economic analyst. "The South is seeing a big increase in affordable inventory."

RELATED: I'm a Realtor and These are the 5 Red Flags That a Home Is a Money Pit.

Niagara Falls, New York

Niagara Falls aerial view

Median list price: $114,500
Number of listings under $200,000: 98
Percentage of listings under $200,000: 80

Niagara Falls offers more than just its famous falls. It also has plenty of homes available for less than $200,000, quite a steal when you consider it's just a 25-minute drive from Buffalo. And if you're the outdoorsy type, you'll appreciate that this is a great city for biking and hiking.

Rochester, New York

Rochester NY street sign
Brett Welcher / Shutterstock

Median list price: $161,194
Number of listings under $200,000: 213
Percentage of listings under $200,000: 68

Rochester is about an hour and a half east of Niagara Falls, and it's another perfect place for budget house hunters. However, if you plan on delving into this housing market, you may want to act fast, as recent reports cite "steep competition" and bidding wars.

RELATED: The Most Expensive Neighborhood in Every State, New Data Shows.

Detroit, Michigan

Detroit Aerial Panorama during sunset

Median list price: $90,000
Number of listings under $200,000: 1586
Percentage of listings under $200,000: 64

The second city in Michigan to make the list, Detroit has the lowest median list price on this list, and it's the only one under $100,000. It also has the highest number of listings under $200,000.

"This might not come as a surprise; fixer-uppers are fairly standard in the Motor City, as it continues to see a broad revitalization," explains the report.

Akron, Ohio

Aerial view of Akron, Ohio
Sean Pavone / Shutterstock

Median list price: $138,600
Number of listings under $200,000: 214
Percentage of listings under $200,000: 70

Akron, another northern Ohio city, has a decent stock of homes listed for less than $200,000. But like other Midwest cities, its overall housing prices have gone up in recent years.

"For example, Detroit home prices are up by more than 10 percent compared with the same time last year," explains the report. "In Cleveland, prices have grown by more than 20 percent in the past year. Akron and Lansing have also seen double-digit price growth."

RELATED: 7 Small Towns Where You Don't Have to Be Rich to Live in a Mansion.

Lauderhill, Florida

Aerial view of Fort Lauderdale's skyline and waterway canals.
Jillian Cain Photography / Shutterstock

Median list price: $175,000
Number of listings under $200,000: 404
Percentage of listings under $200,000: 70

The top two cities on the list are both outside of Fort Lauderdale. It is worth noting, though, that most of their housing stock is condominiums.

"These towns are extra attractive because they're in a popular retirement destination but more affordable than other nearby Florida cities," says the report. "Both are about 15-minute drives to the center of Fort Lauderdale, which means easy access to urban perks without compromising on a suburban lifestyle."

Lauderdale Lakes, Florida

Beautiful aerial view of the luxurious suburbs in Florida, Fort Lauderdale
Gianfranco Vivi / Shutterstock

Median list price: $149,350
Number of listings under $200,000: 239
Percentage of listings under $200,000: 85

Lauderdale Lakes takes the top spot, with 85 percent of its listings coming in under $200,000 as of early June.

"Areas that were once popular for downsizing are now out of reach for many," said Jones. "Florida markets like Lauderdale Lakes are seeing a surge in affordable condos, providing viable options for those looking to downsize without breaking the bank."

Dana Schulz
Dana Schulz is the Deputy Lifestyle Editor at Best Life. She was previously the managing editor of 6sqft, where she oversaw all content related to real estate, apartment living, and the best local things to do. Read more
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