Housing News

Looking for an Affordable Home? 23 Cities Where You Can Find One for $250,000 or Less

November 24, 2025

Buying a home can feel a bit challenging, thanks to home prices that have shot up over the last few years. However, that doesn’t mean today’s housing market is out of reach for homebuyers on a tight budget.

Nationally, the median list price for a home in October was $424,200, according to Realtor.com. That was up 0.4% from a year earlier and represented a 21.5% jump over the last five years.

While overall affordability remains a hurdle at the national level, there is often opportunity for buyers locally. The typical home was priced at $250,000 or less in 23 of the largest metropolitan areas.

“Looking at smaller metro areas reveals that in parts of the South and Midwest, it is still very much possible to buy a home for $250,000 or less,” said Hannah Jones, senior economic research analyst at Realtor.com.

Jones noted that many areas, like Ohio cities Akron and Toledo, boast median listing prices up to $150,000 below the national median.

“That kind of gap translates into lower monthly payments, smaller down payments, and a much lower barrier to entry for homeownership, offering real breathing room in a challenging affordability environment,” said Jones.

Beyond the home price, buyers can save in other ways. Take a buyer putting 20% down and getting a 30-year, fixed-rate mortgage with a 6.3% interest rate. On a $424,200 home, the loan amount would be roughly $339,000. On a $240,000 home, the loan is closer to $192,000.

The bottom line adds up to a monthly savings of more than $900, or over $10,000 a year, before taxes and insurance.

The difference in upfront cash is also significant: a 20% down payment on $424,200 is around $84,840. That’s compared with $48,000 on $240,000, a gap of nearly $37,000.

In other words, buying in these lower-priced markets make first-time homeownership far more attainable, often in up-and-coming towns with a lot to offer.

For instance, the most affordable metro to buy a home is Charleston, W. Va. with a median home price of just $162,825 in October, according to Realtor.com data.

“[Charleston is] a truly special place to call home, where small-town charm meets big-city convenience,” said Josh McGrath, a local real estate agent with Better Homes and Gardens Real Estate Central. “You’ll find beautiful homes under $250,000, a vibrant riverfront, and events.”

Ready to find affordable home?

Below are the 23 largest metropolitan areas where buyers can still find homes with asking prices at or below $250,000. (The October data is from Realtor.com. Metropolitan areas include the main city and nearby communities.).