The 25 Best Places To Buy a Home For Under $250,000
Some cities offer affordable homes and a good quality of life.
Cameron Huddleston Life and Money Columnist
Oct 9, 2019
Now is a good time to buy a home. At least, that’s what more than half of Americans polled by the National Association of Realtors believe. However, the survey found that those with higher incomes were more likely than those with lower incomes to say it’s a good time to buy a home.
“Not surprisingly, as incomes increase, the process of buying a home is less of a strain,”said Lawrence Yun, chief economist at the National Association of Realtors, in a press release. Considering that the median home list price in the U.S. is $289,000, according to Zillow, it’s also not surprising that people making less than six figures aren’t as likely to think it’s a good time to buy homes. But that doesn’t mean there aren’t affordable homes to be found.
In fact, GOBankingRates discovered 25 places where the median home list price is below the national median and the quality of life is good. After all, it’s one thing to find a cheap home, and it’s another to find a well priced home in an area with low crime rates, an affordable cost of living and plenty of amenities.
GOBankingRates started by examining the largest cities where the median home list price is less than $250,000, based on 2019 data from Zillow. Then, the study reviewed several other criteria:
Livability score, sourced from AreaVibes
Median household income, sourced from the U.S. Census Bureau
Violent and property crime rates per 1,000 residents, sourced from Neighborhood Scout
Unemployment rate for residents between ages 20-64, sourced from the U.S. Census Bureau
Percentage of population living below the poverty line, sourced from the U.S. Census Bureau
Annual cost of living for nonhousing expenses, sourced from the U.S. Census Bureau and Sperling’s Best Places
Some clear trends emerged: Many of the 25 best cities to buy a home for under $250,000 are in the South and Midwest, many are in Texas. Overall, it’s obvious that location makes a huge difference in what you can afford.
25. Laredo, Texas
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2019 median list price: $189,294
Livability score: 80
Median household income: $41,302
Unemployment rate for 20- to 64-year-olds: 4.6%
Percentage of people below the poverty line: 18.83%
Violent crime rate per 1,000 residents: 3.26
Property crime rate per 1,000 residents: 25.01
Annual cost of living (excluding housing): $18,361.41
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24. Clarksville, Tennessee
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2019 median list price: $229,101
Livability score: 70
Median household income: $51,164
Unemployment rate for 20- to 64-year-olds: 7.1%
Percentage of people below the poverty line: 11.08%
Violent crime rate per 1,000 residents: 6.25
Property crime rate per 1,000 residents: 29.16
Annual cost of living (excluding housing): $18,097.69
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23. Columbus, Ohio
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2019 median list price: $183,862
Livability score: 76
Median household income: $49,478
Unemployment rate for 20- to 64-year-olds: 5.6%
Percentage of people below the poverty line: 14.72%
Violent crime rate per 1,000 residents: 5.14
Property crime rate per 1,000 residents: 40.15
Annual cost of living (excluding housing): $17,873.79
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22. Pasadena, Texas
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2019 median list price: $171,137
Livability score: 83
Median household income: $50,207
Unemployment rate for 20- to 64-year-olds: 8.7%
Percentage of people below the poverty line: 12.55%
Violent crime rate per 1,000 residents: 4.66
Property crime rate per 1,000 residents: 25.18
Annual cost of living (excluding housing): $19,640.64
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21. Des Moines, Iowa
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2019 median list price: $145,544
Livability score: 75
Median household income: $49,999
Unemployment rate for 20- to 64-year-olds: 5.8%
Percentage of people below the poverty line: 12.1%
Violent crime rate per 1,000 residents: 6.69
Property crime rate per 1,000 residents: 44.08
Annual cost of living (excluding housing): $17,566.89
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20. Lakeland, Florida
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2019 median list price: $203,950
Livability score: 81
Median household income: $42,033
Unemployment rate for 20- to 64-year-olds: 7.7%
Percentage of people below the poverty line: 11.38%
Violent crime rate per 1,000 residents: 2.87
Property crime rate per 1,000 residents: 37.3
Annual cost of living (excluding housing): $18,031.49
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19. Mesquite, Texas
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2019 median list price: $196,138
Livability score: 78
Median household income: $52,167
Unemployment rate for 20- to 64-year-olds: 6%
Percentage of people below the poverty line: 9.4%
Violent crime rate per 1,000 residents: 4.28
Property crime rate per 1,000 residents: 36.7
Annual cost of living (excluding housing): $20,057.26
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18. Killeen, Texas
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2019 median list price: $158,365
Livability score: 79
Median household income: $48,898
Unemployment rate for 20- to 64-year-olds: 9.4%
Percentage of people below the poverty line: 9.83%
Violent crime rate per 1,000 residents: 7.72
Property crime rate per 1,000 residents: 28.7
Annual cost of living (excluding housing): $17,112.32
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17. Hampton, Virginia
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2019 median list price: $183,798
Livability score: 73
Median household income: $52,021
Unemployment rate for 20- to 64-year-olds: 7.3%
Percentage of people below the poverty line: 10.18%
Violent crime rate per 1,000 residents: 3.09
Property crime rate per 1,000 residents: 32.67
Annual cost of living (excluding housing): $18,434.40
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16. Omaha, Nebraska
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2019 median list price: $236,590
Livability score: 75
Median household income: $53,789
Unemployment rate for 20- to 64-year-olds: 4.3%
Percentage of people below the poverty line: 10.35%
Violent crime rate per 1,000 residents: 6.23
Property crime rate per 1,000 residents: 37.35
Annual cost of living (excluding housing): $19,118.65
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15. Lubbock, Texas
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2019 median list price: $192,284
Livability score: 78
Median household income: $47,326
Unemployment rate for 20- to 64-year-olds: 4.1%
Percentage of people below the poverty line: 15.05%
Violent crime rate per 1,000 residents: 5.23
Property crime rate per 1,000 residents: 40.16
Annual cost of living (excluding housing): $16,972.04
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14. Edinburg, Texas
Mig Esc / Wikimedia Commons
2019 median list price: $189,394
Livability score: 84
Median household income: $45,038
Unemployment rate for 20- to 64-year-olds: 5.2%
Percentage of people below the poverty line: 16.16%
Violent crime rate per 1,000 residents: 3.32
Property crime rate per 1,000 residents: 38.41
Annual cost of living (excluding housing): $16,902.63
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13. El Paso, Texas
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2019 median list price: $181,938
Livability score: 79
Median household income: $44,431
Unemployment rate for 20- to 64-year-olds: 6.5%
Percentage of people below the poverty line: 12.3%
Violent crime rate per 1,000 residents: 3.87
Property crime rate per 1,000 residents: 18.89
Annual cost of living (excluding housing): $17,584.80
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12. Amarillo, Texas
Gimas / Shutterstock.com
2019 median list price: $196,590
Livability score: 78
Median household income: $51,198
Unemployment rate for 20- to 64-year-olds: 3.5%
Percentage of people below the poverty line: 11.04%
Violent crime rate per 1,000 residents: 7.6
Property crime rate per 1,000 residents: 44.04
Annual cost of living (excluding housing): $17,273.25
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11. Garland, Texas
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2019 median list price: $223,212
Livability score: 79
Median household income: $55,637
Unemployment rate for 20- to 64-year-olds: 6%
Percentage of people below the poverty line: 9.79%
Violent crime rate per 1,000 residents: 3.15
Property crime rate per 1,000 residents: 30.24
Annual cost of living (excluding housing): $19,900.66
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10. Fort Wayne, Indiana
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2019 median list price: $166,539
Livability score: 76
Median household income: $45,853
Unemployment rate for 20- to 64-year-olds: 6.5%
Percentage of people below the poverty line: 12.03%
Violent crime rate per 1,000 residents: 3.59
Property crime rate per 1,000 residents: 31.91
Annual cost of living (excluding housing): $16,251.49
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9. Corpus Christi, Texas
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2019 median list price: $213,000
Livability score: 80
Median household income: $53,626
Unemployment rate for 20- to 64-year-olds: 4.8%
Percentage of people below the poverty line: 10.5%
Violent crime rate per 1,000 residents: 7.28
Property crime rate per 1,000 residents: 36.28
Annual cost of living (excluding housing): $17,741.79
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8. McAllen, Texas
Eric Urquhart / Shutterstock.com
2019 median list price: $216,250
Livability score: 85
Median household income: $45,057
Unemployment rate for 20- to 64-year-olds: 7%
Percentage of people below the poverty line: 15.05%
Violent crime rate per 1,000 residents: 1.46
Property crime rate per 1,000 residents: 28.08
Annual cost of living (excluding housing): $16,863.44
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7. Abilene, Texas
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2019 median list price: $190,475
Livability score: 83
Median household income: $46,093
Unemployment rate for 20- to 64-year-olds: 4.1%
Percentage of people below the poverty line: 10.94%
Violent crime rate per 1,000 residents: 5.3
Property crime rate per 1,000 residents: 30.62
Annual cost of living (excluding housing): $17,591.34
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6. Joliet, Illinois
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2019 median list price: $169,927
Livability score: 71
Median household income: $63,359
Unemployment rate for 20- to 64-year-olds: 6.8%
Percentage of people below the poverty line: 7.69%
Violent crime rate per 1,000 residents: 3.64
Property crime rate per 1,000 residents: 17.77
Annual cost of living (excluding housing): $18,450.28
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5. Cedar Rapids, Iowa
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2019 median list price: $170,113
Livability score: 76
Median household income: $56,828
Unemployment rate for 20- to 64-year-olds: 3.8%
Percentage of people below the poverty line: 8.18%
Violent crime rate per 1,000 residents: 2.8
Property crime rate per 1,000 residents: 37.45
Annual cost of living (excluding housing): $17,843.65
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4. Port St. Lucie, Florida
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2019 median list price: $247,748
Livability score: 78
Median household income: $54,046
Unemployment rate for 20- to 64-year-olds: 6.3%
Percentage of people below the poverty line: 8.06%
Violent crime rate per 1,000 residents: 0.98
Property crime rate per 1,000 residents: 11.23
Annual cost of living (excluding housing): $19,360.85
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3. Sioux Falls, South Dakota
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2019 median list price: $231,925
Livability score: 73
Median household income: $56,714
Unemployment rate for 20- to 64-year-olds: 3.2%
Percentage of people below the poverty line: 7.92%
Violent crime rate per 1,000 residents: 4.53
Property crime rate per 1,000 residents: 28.74
Annual cost of living (excluding housing): $17,090.76
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2. Sterling Heights, Michigan
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2019 median list price: $211,950
Livability score: 80
Median household income: $62,344
Unemployment rate for 20- to 64-year-olds: 4.7%
Percentage of people below the poverty line: 7.81%
Violent crime rate per 1,000 residents: 1.91
Property crime rate per 1,000 residents: 11.4
Annual cost of living (excluding housing): $19,982.22
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1. Aurora, Illinois
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2019 median list price: $217,813
Livability score: 72
Median household income: $66,848
Unemployment rate for 20- to 64-year-olds: 5.9%
Percentage of people below the poverty line: 8.33%
Violent crime rate per 1,000 residents: 2.58
Property crime rate per 1,000 residents: 13.36
Annual cost of living (excluding housing): $18,054.13
