{"id":133195,"date":"2023-06-17T19:39:05","date_gmt":"2023-06-17T19:39:05","guid":{"rendered":"https:\/\/fin2me.com\/?p=133195"},"modified":"2023-06-17T19:39:05","modified_gmt":"2023-06-17T19:39:05","slug":"the-county-with-the-least-expensive-housing-market-in-every-state","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/the-county-with-the-least-expensive-housing-market-in-every-state\/","title":{"rendered":"The County With The Least Expensive Housing Market In Every State"},"content":{"rendered":"<p><span>Homeownership was once<\/span><span> a cornerstone o<\/span><span>f the American dream. But for a growing share of the population, it is now more akin to a pipe dream. Within the last two years, real incomes have been crushed under the weight of historic inflation. At the same time, the Federal Reserve\u2019s interest rate hikes have sent mortgage rates soaring.\u00a0<\/span><\/p>\n<p><span>With reduced buying power and increased borrowing costs, consumer interest in the real estate market has cooled. The number of existing home sales in the U.S. declined<\/span><span> by 23% f<\/span><span>rom April 2022 to April 2023, according to the National Association of Realtors. But while demand from home buyers has fallen, home prices have not. (These are <\/span><span>the states with the worst housing shortages for low income Americans.<\/span><span>)<\/span><\/p>\n<p><span>According to the real estate market website Realtor.com, the median list price for a home in the United States was $<\/span><span>441,445 in May <\/span><span>2023 &#8211; 2.7% higher than it was a year earlier. But while such price<\/span><span>s are prohibitively h<\/span><span>igh for most Americans, there are parts of the country where homes are selling for far less and where homeownership is still possible for those on a modest budget.\u00a0<\/span><\/p>\n<p><span>Using <\/span><span>data from Realtor.com<\/span><span>, 24\/7 Wall St. identified the county with the least expensive housing market in every state. Counties, or county equivalents, were ranked by the median list price in May 2023. Within each state, we only considered places with at least 10 homes actively listed on the market in May 2023.\u00a0<\/span><\/p>\n<p><span>In every state except Hawaii, there is at least one county or county equivalent where the median price of listed homes is below the national median. In the majority of states, there is at least one county where most homes are listed for less than $200,000. Depending on the state, the median list price in the cheapest housing market is anywhere from 17% to 95% lower than the median home price statewide.\u00a0<\/span><\/p>\n<p><span>Lower home prices in these areas are attributable in part to smaller sized homes. In all but three states, the typical home in the least expensive housing market is smaller than the typical home across the state as a whole. Still, these places offer a better value, as the median price per square foot is lower than it is across the state in every case. (Here is a look at <\/span><span>how much home you can buy for $200,000 in each state<\/span><span>.)<\/span><\/p>\n<p><span><strong>Click here to see the county with the least expensive housing market in every state.<\/strong><\/span><\/p>\n<p><span><strong>Click here to read our detailed methodology.<\/strong><\/span><\/p>\n<p><b>Sponsored: Tips for Investing<\/b><\/p>\n<p>A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn&#8217;t have to be hard. SmartAsset&#8217;s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you&#8217;re ready to find an advisor who can help you achieve your financial goals, get started now.<\/p>\n<p>Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you&#8217;re an investor looking to minimize expenses,\tconsider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.<\/p>\n<p>Source: <a href=\"https:\/\/247wallst.com\/special-report\/2023\/06\/17\/the-county-with-the-least-expensive-housing-market-in-every-state-3\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homeownership was once a cornerstone of the American dream. But for a growing share of the population, it is now more akin to a pipe [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":133194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The County With The Least Expensive Housing Market In Every State - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/the-county-with-the-least-expensive-housing-market-in-every-state\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The County With The Least Expensive Housing Market In Every State - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Homeownership was once a cornerstone of the American dream. 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