Markets with most under $200,000

Affordable housing can be difficult to obtain. In the past decade alone, the number of homes for sale under $200,000 has increased from half of all sales to 21% of all home sales, according to a recent report from Realtor.com. At the same time, the national average sales price of homes has increased by almost 40% since 2019.

For the roughly two-thirds of Americans who own a home, location is a major determinant of their home’s value. Shopping for a new home on a budget can limit potential buyers to certain areas in the US. The good news is that the inventory of smaller and more affordable homes has been growing in share, Realtor.com found.

Hannah Jones, a senior economic analyst at Realtor.com, said in the report, “With lower costs of living and increasing inventory, cities like Albany, Georgia, offer great value for homebuyers.” She continued: “The South is seeing a big increase in homebuyers. affordable stock.”

The Upper-Midwest region is another area that offers consistent affordable options for potential homebuyers.

These cities have the largest concentration of affordable housing in the country:

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These cities have the most homes under 200K

Realtor.com collected data on cities where there were at least 100 total listings available as of early June. They compared the total number of listings in the area to the total number of listings priced at $200,000 or less.

By volume, Detroit, Michigan had the largest number of available homes under $200,000, with 1,586 homes for sale or 64% of all homes regardless of price. Cleveland, Ohio followed in terms of total volume of affordable offerings.

Two suburbs of Fort Lauderdale, Florida, had the highest concentration of affordable homes for sale. In Lauderdale Lakes, 85% of homes for sale were listed for less than $200,000. Lauderhill, Florida – a neighboring suburb – had the second largest concentration of affordable housing in the US

In Lauderdale Lakes, the median home price is $149,000, well below the national median sales price of $442,500, according to Realtor.com.

“Areas that were once hot for downsizing are now out of reach for many,” Jones told Realtor.com. “Florida markets like Lauderdale Lakes are seeing a surge in affordable apartments, providing viable options for people looking to downsize without breaking the bank.”

Affordable housing options have declined over the past decade

The number of affordable housing listings has fallen continuously between 2013 and 2023. At the start of the decade, about half of all advertising was under $200,000. Last year, less than a quarter of all home listings were worth $200,000 or less.

Card: What does ‘the least affordable housing market in recent history’ look like in your area?

See how much homes are appreciating in your county

Homeownership is an important financial asset for many households, and knowing the value of a home can help families decide whether to buy or sell.

County-level housing statistics data from the American Community Survey show how much homes are appreciating across the country. See the median value of homes in every U.S. county: