Top US States To Become A Homeowner For Under $150,000

Despite the fact that the US real estate market is booming, there are still a few states where houses are under $150,000.

Mississippi

With an average house value of $166,966, the state of farmers and fisherman is renowned for being incredibly affordable to live in. great employment rates and great house values can be found in Jackson, the state capital.

Mississippi is a southern state in the United States bordered to the west by the Mississippi River, to the east by the state of Alabama, and to the south by the Gulf of Mexico. The Delta Blues Museum in Clarksdale honors this region, which is thought to be the home of blues music—the Mississippi Delta. 2.94 million people as of 2022.

Why is Mississippi Real Estate So Inexpensive?

A wealth of land equates to a wealth of opportunities, and these frequently translate into lower costs for the land itself as well as the nearby existing homes. There won't be much competition when it comes to finding the ideal property in the MS real estate market because there are so many possibilities available.

Also read: Canadian real estate grows in Q2 as inflation eases and rate cuts loom

Oklahoma

Despite having a very competitive job market, Oklahoma is home to many colleges and has a typical property price of $188,453. In Oklahoma City, a condo or cooperative can be purchased for about $120,000. Tusla also has reasonably priced housing available.

The state of Oklahoma is located in the country's South Central area. It shares boundaries with New Mexico to the west, Colorado to the northwest, Kansas to the north, Missouri to the northeast, Arkansas to the east, and Texas to the south and west. The population, as of the 2022 census, is 4.02 million.

Is Oklahoma A Desirable Place To Purchase A Home?

The housing market in Oklahoma is not very competitive. In July 2024, the average home sales price was $250,200, a decline of three months. That is a decrease of 0.5% and $1,300 from July of the previous year. That is less than the $427,962 national median price for home sales.

Ohio

Large cities like Columbus, Cincinnati, and Cleveland may appear to be extremely expensive, but some properties in Columbus may be purchased for less than $150,000. There are also less expensive offerings in Toledo and Akron if you want to go away from the metropolis.

Ohio is a state located in the United States' Midwest. In addition to Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the west, and Michigan to the northwest, it has borders with Lake Erie to the north. By area, it's the 34th largest state in the union of the 50 states.

Also read: HowAI Is Revolutionizing Real Estate

Why Is Ohio Real Estate So Cheap?

The property market in this Midwestern state is appealing for investors and prospective homeowners due to a number of characteristics, but it also presents a distinct set of difficulties that should be carefully considered.

For both buyers and investors, the steady supply of properties, affordable prices, reduced cost of living, strong economy, and dynamically changing market conditions make it an appealing option.

Kentucky

There are properties in the Bluegrass state for less than $150,000. Affordable bungalows and condos are currently available in Louisville. Conversely, Lexington is the place to go if you're searching for a move-in ready, around 1,000 square foot home for less than $150,000.

Frankfort serves as the state capital of Kentucky, a state in the Southeast that is bordered to the east by the Appalachian Mountains and to the north by the Ohio River. The Kentucky Derby, a renowned horse race held at Churchill Downs on the first Saturday in May, is hosted by Louisville, the largest city in the state.

There were 4.512 million people living in this state as per the 2022 census.

Report: The Least Expensive State In Which To Buy A Property Is Kentucky

Kentucky is the most inexpensive state in the union, according to a recent study that examined the hidden expenses associated with property ownership in every state in the union.

In its analysis, Bankrate, a financial services business, examined the average total cost of property taxes, insurance premiums, upkeep, and utilities bills.

The national average, according to Bankrate, is $18,118 annually.

Kentucky's average is $11,559, making it the cheapest state in the nation.

Over the past four years, there has been a notable increase in averages. The national average in 2020 was a pitiful $14,428.

A growing number of individuals nationwide are finding Kentucky to be a desirable destination for relocation, according to brokers like Christina Dudek of Coldwell Banker McMahan in Lexington.