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!
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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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