The Cheapest States to Buy a House in 2022

The cheapest states to buy a house according to statistics and median house prices.

Table of Contents:

What state is the cheapest state to buy a house?

Which state has the lowest cost of living in 2022?

What state can you get big houses in for cheap?

What is the cheapest city to live in in 2021?

What state has the highest house prices?

Where is the best state to buy a home?

What is the safest and cheapest state to live in?

What is the best state to live in financially?

What is the cheapest and warmest state to live in?

Where is the cheapest place in the United States to buy a house?

Summary

What state is the cheapest state to buy a house?

Different states tend to have completely different housing prices. Part of the reason for this is that depending on the amount of land available and the number of residents, land may become cheaper. As such, certain states are ideal for those who are looking to purchase a home for a relatively low price. 

A smarter way to buy your home.

Buy your home and get up to 1% cashback.

Book a Call

1. West Virginia

West Virginia is one of the cheapest states for new home buyers. According to Zillow, the Median Home Value in the state is around $117K. What’s more the prices for homes don’t tend to increase at as high a rate as they do in other states. 

2. Mississippi 

Mississippi is a state with large industries, which means that there are many employment opportunities in the area for those who work in either agriculture or manufacturing. The median home value in Mississippi is also relatively low at around $140K. 

3. Arkansas

Arkansas is another great state for those looking to purchase a relatively cheap home. The median home value in the state is less than $150K and the average 5-year price change on home value can reach up to 30%. This means that a property purchased in Arkansas can also have great resale potential. 

4. Oklahoma

Oklahoma has some particularly cheap cities where one can buy a house, these include Muskogee, Lawton, and Enid. The median home value for houses in this state is approximately $150K. Much like Arkansas, Oklahoma also has great resale potential for properties bought and sold after a five-year period. 

5. Iowa 

Iowa is a state with a very diverse economy and a great housing market. On average the median home value for houses in the state is $165K and some of the cheapest cities for the purchase of properties are Waterloo, Sioux City, and Davenport. 

Which state has the lowest cost of living in 2022?

Based on statistics from 2021, some of the cheapest places to live in when it comes to the costs of living are also places in which purchasing a property is relatively cheap. This is in part because of the low housing index in those states, but it could also be because transportation costs, utility costs, and food are relatively cheap in those areas. 

1. Mississippi – the cost of living index 84.4 

2. Oklahoma -– the cost of living index 83.7

3. Arkansas – the cost of living index 87.8

4. Kansas – – the cost of living index 83.1

5. Missouri – the cost of living index 85.9

What state can you get big houses in for cheap?

When it comes to affordable housing some states may be better than others, but while being able to buy a two-bedroom apartment in some states may be cheaper than in others, that does not subsequently mean that buying a bigger home or a mansion in those states will also be cheap. Therefore, if you’re looking to buy a big house for cheap you may need to direct your search to different states than the ones that you would need to look at for the purchase of smaller homes. 

1. Arkansas – price per square foot is $63

2. Mississippi – price per square foot is $64

3. South Dakota -– price per square foot is $67

4. Indiana – price per square foot is $68

5. West Virginia – price per square foot is $68

6. Alabama – price per square foot is $69

7. Tennessee – price per square foot is $69

8. Michigan – price per square foot is $70

What is the cheapest city to live in in 2021?

Finding a cheap city to live in in 2021 will depend on several different things. While some areas may have affordable housing that does not mean that the transportation costs, utility costs, or grocery costs are equally low. What’s more the unemployment rates in the areas that you’re choosing to live in are also important when you’re considering what the cheapest places to live in are. With all of these aspects considered some of the cheapest places to live in in 2021 were the following:

Gilbert, Arizona

• Average monthly rent: $1,029
• State cost of living: 97

 Jacksonville, Florida

• Average monthly rent: $1,283
• State cost of living: 97.9

Louisville, Kentucky

• Average monthly rent: $1,295
• State cost of living: 90.9

Toledo, Ohio

• Average monthly rent: $949
• State cost of living: 90.8

Fort Wayne, Indiana

• Average monthly rent: $1,077
• State cost of living: 91.5

Lincoln, Nebraska

• Average monthly rent: $1,318
• State cost of living: 90.8

Oklahoma City, Oklahoma

• Average monthly rent: $944
• State cost of living: 87

 Wichita, Kansas

• Average monthly rent: $763
• State cost of living: 89

What state has the highest house prices?

There are many states in which purchasing a house will come at an incredibly high cost. Some of those include Connecticut, Wyoming, California, and Alaska, but while home prices in those states are expensive, they don’t compare to the median sale price of a home in Hawaii.

Hawaii is currently the most expensive state in the US, and part of the reason for this is that while the state is the 8th smallest in terms of area, it’s also one of the most populous ones. What’s more two-thirds of the population of Hawaii live on the island of O’ahu, making the island even more crowded than other areas in the state. In Hawaii, the median sale price for a home is $672K and if that amount does not seem high and exorbitant on its own then one needs to consider that that price is more than 8 times the median household income in the state. In Honolulu the capital of Hawaii, the median price for a home is $903K. This is in big part because of how populated the island is but also because of how much it has become in recent years a market in which many people would choose to purchase a home. 

Where is the best state to buy a home?

 Determining what the best state to buy a house in will vary from one person to the next. As everyone prioritizes their needs the state in which they should buy a home may change. For example, schools may be better in some states and worse in others, similarly, some states have better options for those looking to retire than other states do. Weather can also be a big determinant of where one should choose to live and much like other things relating to house buying, that choice is completely personal. With all of that in mind, the list below has five of the states where you will be able to buy a very nice home for a reasonable budget. 

1. Indiana

2. Mississippi

3. Arkansas

4. Ohio

5. West Virginia 

What is the safest and cheapest state to live in?

While there are many cheap states in which you can choose to live in, finding a combination of it being both a relatively cheap area to live in as well as a safe state can sometimes be a challenge. When choosing a cheap state, the criteria that one needs to examine are firstly the price of housing and secondly the living costs for the state. Normally these will include the utility costs, the transportation costs, and the costs of groceries in the state. In terms of safety, looking at the criminality rates in any given area will normally give one enough information about whether that state is safe to live in or not. Another thing to consider is that while some areas in a state may be extremely safe while other areas in the same state are not as safe, so once you have determined the specific city that you’re interested in moving to, you should try to find out the criminality rates for the city and the neighborhood that you’re looking to purchase a home in. 

1. Edmond, Oklahoma

• Median rent: $1,430

• Violent crime rate per 1,000 people: 1.72

2. Aurora, Illinois

• Median rent: $1,903

• Violent crime rate per 1,000 people: 2.58

3. Boise, Idaho

• Median rent: $1,373

• Violent crime rate per 1,000 people: 2.78

4. Brownsville, Texas

• Median rent: $900

• Violent crime rate per 1,000 people: 3.52

5. El Paso, Texas

• Median rent: $1,002

• Violent crime rate per 1,000 people: 3.87

6. Fort Wayne, Indiana

• Median rent: $1,044

• Violent crime rate per 1,000 people: 3.59

7. Sioux Falls, South Dakota

• Median rent: $1,196

• Violent crime rate per 1,000 people: 4.53

What is the best state to live in financially?

The best state to live in when it comes to financial benefits will be a state that combines low living expenses, low housing costs, and low taxation rates. Locations that manage to keep all three of those low will normally be extremely beneficial to those who are looking to live somewhere with financial perks. That being said another factor to determine is job availability and average salaries, as different states may offer higher costs of living and higher salaries. This can oftentimes make certain states appear like better financial options than other states. 

1. Washington

2. North Dakota

3. Minnesota

4. Michigan

5. Texas 

What is the cheapest and warmest state to live in?

If you’re looking for the warmest states and the same time the cheapest states to live in, then your options are still quite vast as there are many warm states where buying a beach home, or a home to live in is cheap. This means that for those who love summer and who are looking to spend as much time as possible in the sun buying a home or choosing to rent in one of those states will be very affordable. Living expenses are also not going to run as high as they do in some of the colder states around the USA. 

• Santa Maria, California
• Napa Valley, California
• Dallas, Texas
• Gulf Shores, Alabama
• Golden Isles, Georgia

Where is the cheapest place in the United States to buy a house?

If you’re looking for the absolute cheapest, not just state, but specifically place to buy a home in then the area that you need to direct your attention to is Cleveland, Ohio. Not only is Cleveland one of the most affordable areas to purchase a property in, but it’s also an area with low taxation and low transportation costs. This makes it one of the cheapest places to live in in the USA as well as one of the cheapest places to buy a house. 

Summary

Buying a home in the USA can range in prices depending on the amount that you’re willing to spend. The good thing is that while states like Hawaii can be extremely expensive for those looking to buy a home, many other states offer low prices per square footage. In certain states such as Mississippi, West Virginia, and Oklahoma buying a house and residing in it can be much cheaper than expected. Depending on your preferences and the things that you’re looking to get from your home certain states may act as better home bases than others, but that is something that will need to be determined by each person.