Real Estate

The 50 Best Places To Buy a Home for Under $250,000

By Latest World Report 45 0


A family home is one of the key elements for many Americans, providing a long-term solution to their housing and a real estate investment for their portfolio. However, in many places in America, housing prices have started to rocket so high that homeownership has become the sort of dream that’s only imaginable for the rich. When the median home value in your area is $1 million or more, a 20% down payment alone comes to $200,000.

That’s why GOBankingRates has compiled a list of the best options for people who are ready to look beyond the beaten path for a place where houses are affordable and life is good. The study compiled the median home value from cities across the country, limiting itself to just those where prices are under a quarter-million dollars. It then added on factors like crime rates, unemployment and overall livability, scoring each and combining them to rank each city.

So, see if your home town is one of the places where you can expect to be able to buy a home for a price that’s not outrageous.

Last updated: Sept. 30, 2020

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Brownsville, Texas

  • 2020 average home value: $104,518
  • Livability score: 76
  • Median household income: $36,499
  • Unemployment rate: 11%
  • Percentage of people below the poverty line: 31%
  • Violent crime rate per 1,000 residents: 4.03
  • Property crime rate per 1,000 residents: 27.71
  • Annual cost of living (excluding housing): $17,190.96

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Dallas

  • 2020 average home value: $237,212
  • Livability score: 74
  • Median household income: $50,100
  • Unemployment rate: 7.5%
  • Percentage of people below the poverty line: 20.5%
  • Violent crime rate per 1,000 residents: 7.76
  • Property crime rate per 1,000 residents: 33.57
  • Annual cost of living (excluding housing): $20,057.76

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Lafayette, Louisiana

  • 2020 average home value: $178,852
  • Livability score: 72
  • Median household income: $50,182
  • Unemployment rate: 9.1%
  • Percentage of people below the poverty line: 19.4%
  • Violent crime rate per 1,000 residents: 5.49
  • Property crime rate per 1,000 residents: 47.97
  • Annual cost of living (excluding housing): $18,511.20

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Winston-Salem, North Carolina

  • 2020 average home value: $159,143
  • Livability score: 67
  • Median household income: $44,311
  • Unemployment rate: 8.9%
  • Percentage of people below the poverty line: 21.7%
  • Violent crime rate per 1,000 residents: 5.86
  • Property crime rate per 1,000 residents: 32.87
  • Annual cost of living (excluding housing): $17,927.39

Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article.

Laredo, Texas

  • 2020 average home value: $160,733
  • Livability score: 72
  • Median household…



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