Homeownership was once the cornerstone of the American dream. However, due to the increasing proportion of the population, it has become a pipe dream. Over the past two years, real incomes have been crushed under the weight of historic inflation. At the same time, mortgage rates are soaring as the Federal Reserve raises rates.
Declining purchasing power and rising borrowing costs have dampened consumer interest in the real estate market. U.S. existing home sales fell 23% from April 2022 to April 2023, according to the National Association of Realtors. However, while demand from homebuyers has declined, home prices have not. (these are The state with the worst housing shortage for low-income Americans.)
According to the real estate market site realtor.comIn May 2023, the median list price of a U.S. home was $441,445, up 2.7% year-over-year. But while these prices are prohibitively high for most Americans, homes are being sold at much lower prices across the country, and in some areas home ownership is still possible for those on a tight budget. be.
Of the 14 Arizona counties for which data are available, realtor.com At least 10 homes are actively listed in Graham County, making it the cheapest housing market. As of May 2023, the regional median list price was $323,500 and the statewide median list price was $500,000.
All data for this story From Realtor.com.
| state | The county or county equivalent with the cheapest housing market | County/County Equivalent Median List Price ($) | State Median List Price ($) | Consider county/county equivalent |
|---|---|---|---|---|
| Alabama | Dallas | 70,500 | 336,750 | 63 |
| Alaska | Huna Angoon | 219,975 | 415,400 | 12 |
| Arizona | Graham | 323,500 | 500,000 | 14 |
| Arkansas | jackson | 79,425 | 291,075 | 66 |
| California | alpine | 41,175 | 774,500 | 57 |
| Colorado | Crowley | 164,900 | 649,450 | 57 |
| Connecticut | Hartford | 386,950 | 579,900 | 8 |
| Delaware | Kent | 417,225 | 499,997 | 3 |
| florida | Hamilton | 232,000 | 475,000 | 66 |
| Georgia | Terrell | 96,175 | 400,000 | 131 |
| Hawaii | Hawaii | 617,944 | 850,000 | Four |
| Idaho | Butte | 256,250 | 589,500 | 43 |
| Illinois | green | 51,350 | 321,150 | 85 |
| Indiana | Sullivan | 88,700 | 306,475 | 89 |
| Iowa | page | 112,500 | 319,950 | 91 |
| Kansas | cloud | 69,425 | 321,632 | 63 |
| Kentucky | Letcher | 103,000 | 307,364 | 105 |
| Louisiana | evangeline | 113,875 | 289,950 | 60 |
| maine | Aroostook | 189,000 | 439,475 | 16 |
| Maryland | Allegany | 122,350 | 426,780 | twenty four |
| Massachusetts | hamden | 344,175 | 799,000 | 14 |
| Michigan | iron | 115,600 | 292,450 | 82 |
| Minnesota | Faribault | 119,725 | 409,950 | 82 |
| Mississippi | Humphries | 79,000 | 284,000 | 68 |
| Missouri | Knox | 62,363 | 301,350 | 105 |
| Montana | Phillips | 160,375 | 675,000 | 39 |
| Nebraska | furnas | 134,900 | 372,513 | 43 |
| Nevada | mineral | 180,000 | 469,750 | 14 |
| new hampshire | Coos | 261,975 | 549,950 | Ten |
| new jersey | Cumberland | 254,975 | 544,500 | twenty one |
| new mexico | Cibola | 156,875 | 382,475 | 28 |
| new york | Livingstone | 124,900 | 654,475 | 62 |
| north carolina | Northampton | 134,950 | 425,000 | 99 |
| north dakota | earrings | 139,500 | 349,350 | twenty three |
| Ohio | Jefferson | 99,850 | 257,500 | 87 |
| Oklahoma | woods | 85,125 | 319,950 | 66 |
| Oregon | Harney | 295,000 | 579,925 | 33 |
| Pennsylvania | Cumbria | 85,500 | 299,000 | 66 |
| rhode island | providence | 409,900 | 537,000 | Five |
| south carolina | Marlborough | 143,440 | 360,995 | 45 |
| south dakota | Perkins | 98,000 | 372,375 | 27 |
| Tennessee | lake | 112,400 | 449,995 | 95 |
| texas | hole | 86,499 | 389,950 | 210 |
| Utah | Emery | 305,000 | 629,900 | 26 |
| Vermont | Essex | 235,950 | 454,500 | 14 |
| Virginia | buchanan | 64,725 | 456,062 | 122 |
| Washington | Adams | 378,725 | 650,000 | 37 |
| west virginia | McDowell | 59,175 | 239,495 | 47 |
| Wisconsin | Florence | 194,925 | 375,000 | 70 |
| Wyoming | Washakie | 218,750 | 477,500 | twenty two |
