12 Cheapest States to Buy a House | PropertyClub (2024)

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12 Cheapest States to Buy a House | PropertyClub? ›

Mississippi

It also has one of the lowest average housing costs in the US and the lowest average transportation costs. On the downside, Mississippi suffers the highest poverty rate in the US, with a poor healthcare system and quality of education.

Mississippi

It also has one of the lowest average housing costs in the US and the lowest average transportation costs. On the downside, Mississippi suffers the highest poverty rate in the US, with a poor healthcare system and quality of education.

Mississippi

Mississippi, “The Magnolia State,” is the birthplace of Elvis Presley and the delta blues. It's also the cheapest state to buy a house in 2023. As of 2020, the total state population was 2,961,279, making it the 32nd most populated state. The most populated city is Jackson, with 153,701 residents.

That said, the cheapest states to buy real estate in are often those experiencing economic or population declines. Rust Belt states like Pennsylvania, Ohio, Michigan and Indiana all have markets with affordable housing, as do many Southern states, like Alabama and Mississippi.

In its report, Niche also ranked the cheapest places to live in the U.S. At the top of the list this year is Brownsville, Texas. Brownsville has been steadily rising in Niche's Lowest Cost of Living ranking over the past few years, placing number six in 2021, number three in 2022 and finally, number one in 2023.

1. Hawaii. Hawaii is truly a paradise, but it is also the most expensive state in America to live in. The cost of living in Hawaii overall is 86% higher than the national average, and the cost of housing in Hawaii is a jaw-dropping 207% above the national average.

What state in the US has the cheapest land? ›

Arkansas. Arkansas is home to some of the lowest-priced lands in the country, with an average price of just $1,071 per acre. This is significantly cheaper than the national average of $7,000 per acre.

More Relaxed Codes & Regulations

A few states across the country have relaxed building codes, and Texas is one of them. Endless permits and red tape do not hold up developers and construction crews. Consequently, homes are built faster, increasing the supply and keeping overall home prices more affordable.

Hawaii. Hawaii is known for its beautiful beaches, warm climate, and breathtaking scenery. However, it is also the most expensive state to buy a house, with a Zillow Home Value Index of $834,582.

The latest edition of the Best States rankings project finds a new No. 1 and a strong showing from the West and Midwest in the top 10. Utah has taken the No.

The three cheapest states to move to in terms of housing costs are: West Virginia, with an average price of $123,000; Mississippi, with an average price of $125,000; and Arkansas, with an average house price of 133,600.

Albuquerque, New Mexico, ranks as the most affordable city in the country for single renters. Studio apartments in Albuquerque go for a median price of $700, and the average single person would only need to spend 15.33% of their income to afford one.

Is it expensive to live in Florida? Though the state has long had a reputation for being an inexpensive place to live, housing costs are high. Rents and sale prices are both well above national averages. However, the overall cost of living in the state is about on par with the national average.

What are the top five most expensive states in the United States to live in? ›

Florida residents enjoy the 32nd-lowest cost of living in the United States, per MERIC data gathered in 2022.

The cost of living in Tennessee is 10% lower than the national average. Housing is 20% lower than the national average, while utilities are 6% lower. When it comes to basic necessities such as food and clothing, groceries are around 6% lower than in the rest of the country, while clothing costs 6% lower.

1. Detroit, Michigan. The Motor City tops the list of most affordable places to buy a home.

Ranch Homes

A home with a simple and concise layout is the cheapest type of house to build. Ranch homes are typically single-story structures with attached garages. They're easy to find construction plans for and highly customizable, so you can find a home that fits your needs and budget.

Your budget and financial situation will determine how much you can afford on a 100k salary, but in most cases, you'll likely qualify for a home worth between $350,000 to $500,000.

What Types of Commercial Properties Are the Most Profitable? High-Tenant Properties – Typically, properties with a high number of tenants will give the best return on investment. These properties include RVs, self-storage, apartment complexes, and office spaces.

Montana is a great state for homesteaders looking for wide-open spaces and plenty of natural resources. With its diverse climate and terrain, it's easy to find the perfect spot to start a homestead. Those looking to do off grid living in Montana can also benefit from the state's low cost of living and low taxes.

What state is the best to live off the land? ›

“Alaska is the best state to settle in if you want complete isolation and don't mind the long winter months. The upside is that the land is cheap, but you'll pay for it with a short growing season. Another benefit is that Alaska has the lowest taxes in the United States.

InMyArea.com performed a study that took a look at the median prices per acre in 2021 and found that Arizona had the cheapest median cost per acre, at $4,164. The data includes the price of land with existing homes and the cost of land designated as a homesite was also included so that you can have some comparison.

If you want to find free land, then the top states that offer free land include Kansas, Minnesota, and Nebraska. Some restrictions typically apply, such as building a home within a certain time frame or using the land for agricultural purposes.

Cost of Living in California vs. Texas. In Texas, you can get a lot more bang for your buck. A MyMove study evaluating the cost of living in the United States in 2022 shows that California has a cost index of 151.7, while Texas has a cost index of only 91.5.

Utah takes No. 1 in rankings that measure health care, education and economy. WASHINGTON, May 2, 2023 /PRNewswire/ -- Utah is the Best State in the country, according to the 2023 Best States rankings.

Gallup analysis shows that the West North Central, Mountain, and Pacific regions are likely to be the best areas to live in 20 years, based on the strong economic, health, and community foundations they are building today.

Where will be the safest place to live in 2050? ›

A new book examining the forces shaping the future of global migration forecasts Michigan as the best place in the world to live in 2050. How can the world collaborate to minimize temperature rise to save as many lives as possible?

According to worldpopulationreview.com, Hawaii is the most expensive state to live in, with its housing costing three times the national average. New York and California rank as the second and third most expensive states in which to live, respectively.

West Virginia is the cheapest state to buy a house in as it has the lowest median list prices for homes as well as the cheapest sales price per square foot. Property taxes in the state are also some of the lowest in America.

Hawaii is the most expensive state to live in, with a cost of living index of 184. Massachusetts is ranked second, with a cost of living index of 149.7, followed by California at 137.6, and New York at 134.5.

Based on migration data from the U.S. Census Bureau, Americans are moving to Austin, Texas; Raleigh, North Carolina; Orlando, Florida; Dallas, Texas; and Phoenix, Arizona. The most moved-to cities are based on percentage increases in population since 2010.

Rather, Alabama is the most affordable state to retire in, according to WalletHub's "2023 Best States to Retire." The analysis compared all 50 states across three key categories: health care, quality of life and affordability.

Is Texas expensive to live in? No, Texas is veyr affordable relative to other states in the U.S. In fact, the average cost of living there is 8% lower than the national average, according to a Cost of Living Index.

How much money do you need to live comfortably in Texas? ›

With that in mind, a good salary in Texas is between $55K and $73K. To live comfortably anywhere, it helps to track your spending and saving with SoFi Insights. The free budget app also provides credit score monitoring.

Overall, living in Texas is more affordable than living in Florida.