48 Least Expensive Zip Codes in America To Buy a Home
Buying a home can be frustrating in the U.S., especially when prices continue to rise, but it’s not hopeless.
And no, you don’t have to wait for prices to fall (as that may not be happening anytime soon) — there are still options for affordable home ownership across the country.
With an average income and key dedication to studying figures, you can still get your dream home. After all, numbers don’t lie. GOBankingRates has the data on the least expensive zip codes in America, many in some of the largest U.S. cities.
In contrast, here are the most expensive zip codes in America.
Montgomery, Alabama
Zip Code: 36108
Household Median Income: $25,028
April 2024 Household Average Value: $65,044
Household Mortgage Average Cost: $387
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Detroit, Michigan
Zip Code: 48227
Household Median Income: $31,211
April 2024 Household Average Value: $64,403
Household Mortgage Average Cost: $383.30
Dayton, Ohio
Zip Code: 45402
Household Median Income: $37,566
April 2024 Household Average Value: $64,287
Household Mortgage Average Cost: $382.60
Baton Rouge, Louisiana
Zip Code: 70802
Household Median Income: $29,647
April 2024 Household Average Value: $64,261
Household Mortgage Average Cost: $382
Detroit, Michigan
Zip Code: 48210
Household Median Income: $33,711
April 2024 Household Average Value: $64,210
Household Mortgage Average Cost: $382
Detroit, Michigan
Zip Code: 48228
Household Median Income: $31,330
April 2024 Household Average Value: $63,605
Household Mortgage Average Cost: $379
Warren, Ohio
Zip Code: 44485
Household Median Income: $26,442
April 2024 Household Average Value: $63,388
Household Mortgage Average Cost: $377
Toledo, Ohio
Zip Code: 43609
Household Median Income: $37,595
April 2024 Household Average Value: $63,176
Household Mortgage Average Cost: $376
Bessemer, Alabama
Zip Code: 35020
Household Median Income: $28,812
April 2024 Household Average Value: $62,625
Household Mortgage Average Cost: $373
Sharon, Pennsylvania
Zip Code: 16146
Household Median Income: $35,886
April 2024 Household Average Value: $62,249
Household Mortgage Average Cost: $370
Columbus, Georgia
Zip Code: 31903
Household Median Income: $24,840
April 2024 Household Average Value: $61,961
Household Mortgage Average Cost: $369
Cleveland, Ohio
Zip Code: 44105
Household Median Income: $31,690
April 2024 Household Average Value: $61,802
Household Mortgage Average Cost: $368
Cleveland, Ohio
Zip Code: 44103
Household Median Income: $22,122
April 2024 Household Average Value: $60,861
Household Mortgage Average Cost: $362
Baltimore, Maryland
Zip Code: 21223
Household Median Income: $31,947
April 2024 Household Average Value: $59,792
Household Mortgage Average Cost: $356
Danville, Illinois
Zip Code: 61832
Household Median Income: $41,073
April 2024 Household Average Value: $59,202
Household Mortgage Average Cost: $352
Mobile, Alabama
Zip Code: 36617
Household Median Income: $38,067
April 2024 Household Average Value: $58,809
Household Mortgage Average Cost: $350
Memphis, Tennessee
Zip Code: 38106
Household Median Income: $27,881
April 2024 Household Average Value: $58,725
Household Mortgage Average Cost: $350
Saint Louis, Missouri
Zip Code: 63113
Household Median Income: $36,148
April 2024 Household Average Value: $58,183
Household Mortgage Average Cost: $346
Cleveland, Ohio
Zip Code: 44104
Household Median Income: $18,591
April 2024 Household Average Value: $57,700
Household Mortgage Average Cost: $343
West End-Cobb Town, Alabama
Zip Code: 36201
Household Median Income: $30,610
April 2024 Household Average Value: $55,352
Household Mortgage Average Cost: $329
Detroit, Michigan
Zip Code: 48238
Household Median Income: $28,701
April 2024 Household Average Value: $55,275
Household Mortgage Average Cost: $329
Toledo, Ohio
Zip Code: 43605
Household Median Income: $31,383
April 2024 Household Average Value: $54,954
Household Mortgage Average Cost: $327
Saginaw, Michigan
Zip Code: 48601
Household Median Income: $34,030
April 2024 Household Average Value: $54,743
Household Mortgage Average Cost: $326
Detroit, Michigan
Zip Code: 48234
Household Median Income: $33,583
April 2024 Household Average Value: $54,130
Household Mortgage Average Cost: $322
Peoria, Illinois
Zip Code: 61603
Household Median Income: $34,589
April 2024 Household Average Value: $53,661
Household Mortgage Average Cost: $319
Detroit, Michigan
Zip Code: 48204
Household Median Income: $27,609
April 2024 Household Average Value: $53,659
Household Mortgage Average Cost: $319
Detroit, Michigan
Zip Code: 48205
Household Median Income: $39,988
April 2024 Household Average Value: $53,276
Household Mortgage Average Cost: $317
Pine Bluff, Arkansas
Zip Code: 71601
Household Median Income: $33,263
April 2024 Household Average Value: $53,269
Household Mortgage Average Cost: $317
Montgomery, Alabama
Zip Code: 36110
Household Median Income: $38,100
April 2024 Household Average Value: $52,808
Household Mortgage Average Cost: $314
Erie, Pennsylvania
Zip Code: 16503
Household Median Income: $27,060
April 2024 Household Average Value: $52,406
Household Mortgage Average Cost: $312
Johnstown, Pennsylvania
Zip Code: 15902
Household Median Income: $38,701
April 2024 Household Average Value: $52,045
Household Mortgage Average Cost: $310
Monroe, Louisiana
Zip Code: 71202
Household Median Income: $24,866
April 2024 Household Average Value: $51,742
Household Mortgage Average Cost: $308
Detroit, Michigan
Zip Code: 48203
Household Median Income: $29,881
April 2024 Household Average Value: $50,800
Household Mortgage Average Cost: $302
Detroit, Michigan
Zip Code: 48213
Household Median Income: $28,718
April 2024 Household Average Value: $49,173
Household Mortgage Average Cost: $293
Cahokia, Illinois
Zip Code: 62206
Household Median Income: $30,764
April 2024 Household Average Value: $48,694
Household Mortgage Average Cost: $290
Shreveport, Louisiana
Zip Code: 71108
Household Median Income: $30,726
April 2024 Household Average Value: $46,589
Household Mortgage Average Cost: $277
Clarksdale, Mississippi
Zip Code: 38614
Household Median Income: $32,597
April 2024 Household Average Value: $46,463
Household Mortgage Average Cost: $277
Selma, Alabama
Zip Code: 36703
Household Median Income: $28,513
April 2024 Household Average Value: $44,549
Household Mortgage Average Cost: $265
Flint, Michigan
Zip Code: 48504
Household Median Income: $36,811
April 2024 Household Average Value: $43,830
Household Mortgage Average Cost: $261
Toledo, Ohio
Zip Code: 43608
Household Median Income: $27,516
April 2024 Household Average Value: $42,155
Household Mortgage Average Cost: $251
Saint Louis, Missouri
Zip Code: 63115
Household Median Income: $28,494
April 2024 Household Average Value: $41,441
Household Mortgage Average Cost: $247
Jackson, Mississippi
Zip Code: 39213
Household Median Income: $26,888
April 2024 Household Average Value: $38,936
Household Mortgage Average Cost: $232
Shreveport, Louisiana
Zip Code: 71109
Household Median Income: $28,696
April 2024 Household Average Value: $37,172
Household Mortgage Average Cost: $221
Jackson, Mississippi
Zip Code: 39209
Household Median Income: $32,276
April 2024 Household Average Value: $35,814
Household Mortgage Average Cost: $213
Jackson, Mississippi
Zip Code: 39204
Household Median Income: $28,279
April 2024 Household Average Value: $35,270
Household Mortgage Average Cost: $210
Prichard, Alabama
Zip Code: 36610
Household Median Income: $25,805
April 2024 Household Average Value: $31,168
Household Mortgage Average Cost: $186
Peoria, Illinois
Zip Code: 61605
Household Median Income: $22,442
April 2024 Household Average Value: $29,323
Household Mortgage Average Cost: $175
Flint, Michigan
Zip Code: 48505
Household Median Income: $29,061
April 2024 Household Average Value: $28,545
Household Mortgage Average Cost: $170
Methodology: For this study, GOBankingRates analyzed zip codes across the U.S. to find the cheapest places to buy a home. First, GOBankingRates found the total population of zip codes across the U.S., as sourced from the U.S. Census American Community Survey, along with the average home value for single family homes from April 2024, as sourced from Zillow Home Value Index. Assuming a 10% down payment and using the national 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated for each city. Using zip codes with a population of at least 10,000 residents, the top 100 cheapest zip codes by mortgage are kept for this study. For each zip code on the list a number of factors were found including total population, total households, household median income — all sourced from the U.S. Census American Community Survey — and the livability index, as sourced from AreaVibes. The zip codes were sorted to show the cheapest mortgage to the most expensive mortgage within the cheapest 100 zip codes. All data was collected on and is up to date as of June 6, 2024.
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This article originally appeared on GOBankingRates.com: 48 Least Expensive Zip Codes in America To Buy a Home