The Most Affordable Town to Own a Home in Every State

Everyone loves to gawk over the most expensive and exclusive places to live. That’s why earlier this week, realtor.com®’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.

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

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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 realtor.com®. “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 realtor.com 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.”

Town State Median Monthly Homeownership Costs* Median Home List Price**
Roanoake Alabama $736 $120,000
Soldotna Alaska $1,415 $239,700
New Kingman-Butler Arizona $765 $34,450
Pocahontas Arkansas $613 $107,900
Avenal California $795 $125,000
La Junta Colorado $937 $104,000
Stafford Springs Connecticut $1,373 $161,945
Georgetown Delaware $1,176 $230,000
Brookridge Florida $751 $106,450
Lakeview Georgia $831 $110,000
Hawaiian Ocean View Hawaii $961 $165,000
Rupert Idaho $909 $155,000
Fairfield Illinois $732 $86,500
Sullivan Indiana $759 $89,900
Chariton Iowa $807 $83,137
Norton Kansas $817 $99,950
Monticello Kentucky $711 $129,450
Oakdale Louisiana $756 $120,000
Millinocket Maine $886 $59,900
Cumberland Maryland $984 $99,900
North Adams Massachusetts $1,175 $103,500
St. Helen Michigan $673 $67,500
St. James Minnesota $766 $84,900
West Point Mississippi $825 $83,000
Mount Vernon Missouri $674 $132,500
Town  State Median Monthly Homeownership Costs* Median Home List Price**
Anaconda Montana $876 $102,450
Falls City Nebraska $859 $130,000
Laughlin Nevada $979 $156,777
Berlin New Hampshire $1,126 $69,900
Holiday City South New Jersey $1,028 $179,450
Anthony New Mexico $758 $189,900
Salamanca New York $810 $59,000
Long View North Carolina $814 $154,900
Devils Lake North Dakota $887 $169,950
Fostoria Ohio $766 $69,500
Seminole Oklahoma $747 $84,400
Milton-Freewater Oregon $962 $179,950
Oil City Pennsylvania $737 $62,900
Pawtucket Rhode Island $1,592 $225,000
Homeland Park South Carolina $734 $89,400
Huron South Dakota $893 $141,400
Savannah Tennessee $773 $119,900
San Elizario Texas $718 $110,000
Price Utah $987 $132,700
Newport Vermont $1,177 $124,950
Covington Virginia $779 $92,000
Omak Washington $926 $150,000
Clarksburg West Virginia $776 $84,900
Antigo Wisconsin $793 $76,900
Worland Wyoming $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 realtor.com.

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