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The idea of owning a home may seem like an impossible dream to many, but ultimately, it is possible to find an affordable home for under $200K. Although it may take some time and effort, finding a quality home in this price range is very achievable. With a bit of perseverance, careful consideration, and research, anyone can find their perfect residence at a reasonable price.

Here are some of the cities where you can find a home listed at $200k!

  1. Detroit, MI
    Detroit boasts an abundance of homes for sale at prices under $200,000. Nearly half of the total of approximately 4,000 were sold at prices under $100,000. Additionally, the city’s median home size is below 1,500 square feet, making it one of the smallest on the list.
  2. Pittsburgh, PA
    In the Steel City, nearly one-third of all homes on the market can be purchased for under $200,000. The revitalization of Pittsburgh has been gaining traction and this, in tandem with more reasonable costs, has enticed buyers and investors alike.
  3. Cleveland, OH
    Cleveland ranks third in our list and offers the lowest median listing price of any city at the moment – a mere $189,000. In addition, this city has some of the most affordable mansions in the U.S., perfect for those wishing to buy a lot of space.
  4. St. Louis, MO
    Homebuyers searching for a property in St. Louis can find excellent opportunities under $200,000. Within that price point, a three-bedroom townhome located in North Riverfront can be purchased for less than $100,000. The home is close to downtown and within walking distance of the Mississippi River.
  5. Baltimore, MD
    Baltimore has over 1,200 properties for sale under $200,000. For an affordable price of around $200,000, buyers can get a completely renovated, 1,500-square-foot, three-bedroom townhome located in the Highlandtown area. This charming property offers hardwood floors and modern stainless-steel appliances and is just 15 minutes away from the hustle and bustle of downtown and Baltimore’s scenic Inner Harbor.
  6. Birmingham, AL
    The city of Alabama’s capital has earned the nickname of “Pittsburgh of the South” due to its industrial background. Presently, more than 900 homes are available for prices under $200,000. This is the second-longest time on the market for any city on the list.
  7. Chicago, IL
    Chicago is the largest metro area on the list and one of the most costly. With a median house price of $315,000, it also has the second-highest number of homes below $200,000 at around 3,600.
  8. Memphis, TN
    Homebuyers in Memphis can save considerable amounts of money when compared to renting. Plus, people can capitalize on the opportunity of sellers providing discounts. 16% of them have lowered the asking price since first listing their property.
  9. Indianapolis, IN
    Indianapolis has earned the nickname “Crossroads of America” due to its world-famous Indy 500 race. It is also one of the most cost-effective regions, with almost 900 properties available for less than $200,000.
  10. Rochester, NY
    Rochester, located on the banks of Lake Ontario, has seen a surge in real estate activity for many months in a row. This is mostly due to its exceptional affordability – nearly 50% of its homes are for sale for under $200,000.

With the appropriate amount of research and planning, it is entirely possible to acquire an affordable home for under $200K. Consequently, such decisions can pave the way for a bright future of homeownership, where the idea of having a home is no longer a distant dream.

source by realtor.com

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