The Most Affordable Town to Own a Home in Every State

Least expensive towns in every state

Providence, RI: ChrisBoswell/iStock

Everyone loves to gawk over the most expensive and exclusive places to live. That’s why earlier this week,®’s data team published a story on the most expensive neighborhood in every state.

But what about the other 99% of us grappling with things like student loan debt and car payments, and generally trying to afford that roof above our heads each month? Business Insider put together a list of the towns where it’s most affordable to own a home in every state.

To come up with these findings, it analyzed the most recent U.S. Census Bureau data available to figure out where in each state people were paying the least on their median mortgages and other monthly homeownership costs. These can include insurance, utilities, property taxes, and HOA and condominium fees.

Every one of these places has median home prices well below the $295,000 national median—and some only a fraction of that.

To be included on the list, places had to have at least 500 owner-occupied homes where the owners have a mortgage. Those requirements exclude many smaller (and potentially cheaper) towns as well as many of those with longtime residents who have already paid off their mortgages.


Watch: Top 10 Affordable Small Towns That Are Fun, Too


This may help to explain why a few of the most inexpensive towns to own homes in aren’t exactly bargains.

“When people are thinking about whether or not they can afford a home, they think about what their monthly payment is going to be,” says Danielle Hale, chief economist of®. “The monthly costs are easier for folks to wrap their heads around versus ‘Can I afford a $250,000 or a $300,000 [home]?’”

Where is homeownership the most affordable?

Homeowners on a budget in Pocahontas, AR, have it the easiest, forking over just a median $613 a month. That’s likely due to the low median home list price in Pocahontas of only $107,900, according to data. That’s a little more than a third of the national median.

The town, about 100 miles north of Memphis, TN, on the Black River, is home to a 140-acre industrial park as well as some farm supply businesses. It also boasts a 17-block National Historic Commercial District, featuring Victorian architecture, art galleries, and restaurants, as well as the scenic Civil War River Walk.

“The affordability of properties [in the area] is as good as you’re going to find,” says local real estate broker Phillip Orr, of Coldwell Banker Ozark Real Estate Co. “People move here for the low-priced land, low taxes, clean air, and clean water.”TownStateMedian Monthly Homeownership Costs*Median Home List Price**RoanoakeAlabama$736$120,000SoldotnaAlaska$1,415$239,700New Kingman-ButlerArizona$765$34,450PocahontasArkansas$613$107,900AvenalCalifornia$795$125,000La JuntaColorado$937$104,000Stafford SpringsConnecticut$1,373$161,945GeorgetownDelaware$1,176$230,000BrookridgeFlorida$751$106,450LakeviewGeorgia$831$110,000Hawaiian Ocean ViewHawaii$961$165,000RupertIdaho$909$155,000FairfieldIllinois$732$86,500SullivanIndiana$759$89,900CharitonIowa$807$83,137NortonKansas$817$99,950MonticelloKentucky$711$129,450OakdaleLouisiana$756$120,000MillinocketMaine$886$59,900CumberlandMaryland$984$99,900North AdamsMassachusetts$1,175$103,500St. HelenMichigan$673$67,500St. JamesMinnesota$766$84,900West PointMississippi$825$83,000Mount VernonMissouri$674$132,500Town StateMedian Monthly Homeownership Costs*Median Home List Price**AnacondaMontana$876$102,450Falls CityNebraska$859$130,000LaughlinNevada$979$156,777BerlinNew Hampshire$1,126$69,900Holiday City SouthNew Jersey$1,028$179,450AnthonyNew Mexico$758$189,900SalamancaNew York$810$59,000Long ViewNorth Carolina$814$154,900Devils LakeNorth Dakota$887$169,950FostoriaOhio$766$69,500SeminoleOklahoma$747$84,400Milton-FreewaterOregon$962$179,950Oil CityPennsylvania$737$62,900PawtucketRhode Island$1,592$225,000Homeland ParkSouth Carolina$734$89,400HuronSouth Dakota$893$141,400SavannahTennessee$773$119,900San ElizarioTexas$718$110,000PriceUtah$987$132,700NewportVermont$1,177$124,950CovingtonVirginia$779$92,000OmakWashington$926$150,000ClarksburgWest Virginia$776$84,900AntigoWisconsin$793$76,900WorlandWyoming$1,029$142,500

* Data are from the Business Insider analysis of the Census Bureau’s American Community Survey estimates from 2013 to 2017. ** Median list prices are from

The post The Most Affordable Town to Own a Home in Every State appeared first on Real Estate News & Insights |®.

Source: Housing Trends Feed