There is an affordable housing crisis in America, yet Chicago lists over 15,000 properties under $200,000. What’s the catch? These single-family homes are often located on the city’s South Side, which has a reputation for poverty and crime. This is, however, a broad generalization—you can find family-friendly neighborhoods too.
The former manufacturing hub is making a comeback, but housing prices remain relatively low. According to Zillow, the median home listing price is $41,500, and the trend toward a buyer’s market continues in Detroit and surrounding areas.
Grand Rapids, Michigan
Grand Rapids is ranked number two on Trulia’s list of Markets to Watch in 2019. Strong job growth is paired with a median home price of $169,000, and property prices are predicted to stay relatively stable in 2019.
Compared with house prices in other major cities like Los Angeles and San Francisco, prices in Miami are “a relative bargain,” says real estate expert Gord Collins. Be prepared to get less square footage for your money, though. The median home listing price is $480,000, but more than 9,000 properties are listed under $200,000.
The housing market is slowing and prices are dropping in Jacksonville and surrounding areas. Buyers can hope for respectable savings in this popular seaside destination, where the median listing price is $209,900 and the median sale price is $159,100.
If you are looking to invest in a hot market with no signs of crashing, consider Philadelphia. While housing prices have been increasing, the City of Brotherly Love is still affordable when compared with other major cities. The median home listing price is $210,000, and you can find more than 8,000 houses under $200,000.
Thanks to the city's size and booming economy, Houston’s housing supply is increasing. You can snag a large three- or four-bedroom house for less than $220,000 in suburbs like Cypress and Katy, west of the city. The median home listing price of $297,700 is not expected to rise much over the coming year.
A 15-minute drive from Cleveland, Lakewood has earned the reputation of that city’s “coolest suburb.” Nightlife and historic charm aren’t the only draws. Lakewood’s median home listing price is $185,000, and the median sale price stands at $163,500, making the city an attractive haven for first-time home buyers.
Columbia, South Carolina
Columbia, the capital of South Carolina, is one of the more affordable places in the United States to purchase a home. The median listing price is $176,413, and the median sale price is a spare $136,100. Healthy appreciation is predicted over the next year, so you can buy low and expect the value of your home to rise.
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Camden, New Jersey
Looking to buy a real estate investment or rental property? Mashvisor suggests Camden, New Jersey. The median home price is $57,999, according to Zillow, with a strong market for traditional rentals. Plus, the city is only five miles from Philadelphia.
Situated in the beautiful Rockies, Denver enjoys a median home listing price of $468,495, but the median sale price is almost $50,000 less. Zillow predicts that housing prices will rise less in the coming year, so expect property to appreciate, but not as quickly.
Colorado Springs, Colorado
Ranked number one on Trulia’s Markets to Watch in 2019, Colorado Springs maintains a median home listing price of $309,900, but the median sale price hovers about $25,000 lower. Property prices are rising, but more slowly than before, and the local economy is strong—an appealing combination for prospective buyers.
California’s housing market is experiencing a downturn. In Bakersfield, however, home prices are stabilizing at reasonable levels after decades of boom-and-bust. The median home listing price is $269,000, while the median sale price is about $20,000 lower, according to Zillow.
Fresno is another California city to watch. As the housing inventory increases, real estate agents predict that affordability will remain stable or possibly shift to favor buyers. Zillow reports a median home listing price of $279,595 and predicts home values may rise 5 percent next year.
Oklahoma City, Oklahoma
With a median home price of $193,900, Oklahoma City offers a bright spot in affordable housing. Property is appreciating at a slow but steady rate, and the local economy is prospering, making it one of the top Markets to Watch in 2019, according to Trulia.
Finding the Right Spot
Armed with information, you can turn any real estate market to your advantage.
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