Wondering which states are the least expensive for buying a home in 2021?
The housing market may continue to move upwards or the 2021 recession rumors could come into fruition. Whatever the case, affordable housing continues to be a need for so many families. We can also expect cheaper states to trend as technology optimization allows for many people to work from anywhere on the planet. We’ve put together the top 10 most inexpensive states to buy a home in 2021.
Understanding The Cost Of Living
Beyond the cost of your home, there are many expenses that one must consider before moving anywhere. For example, you may consider something as simple as the cost of a gallon of milk. In some states, you can pay as little as 93 cents for a gallon of milk, while you might pay $4 per gallon in others.
Looking at things like utility costs, healthcare costs, transportation costs, and more, is crucial when trying to budget for your move. Due to high state income taxes, people are fleeing states like California and New York and going to states like Florida and Wyoming, which don’t have income taxes at all.
Of course, while these factors are very important, the first thing you will have to look at is the price of your home.
Average home price: $113,626
With thousands of acres of untouched land and majestic mountains, West Virginia is one of the most gorgeous states in the country. Of course, you must have a love for rural living. However, the beauty is that you’ll save more than enough money for weekend trips to the beach or surrounding cities.
Average home price: $134,125
When it comes to building a home of your own or living in a sustainable, off-grid piece of real estate. Mississippi is one of the best states in the country.
Average home price: $141,933
Live right in the center of the country in Oklahoma and enjoy all of the cost benefits while taking in cowboy culture and capital complex.
Average home price: $142,070
Arkansas is a great state to live in if you want to enjoy a bit of peace and quiet. In fact, fewer people live in the entire state of Arkansas than in the entire city of Miami.
Average home price: $142,070
When it comes to low property taxes, Alabama is one of the best states. You can pay less for your home every year you own it. Plus, Alabama has some pretty incredible beaches for those who like the idea of being near water.
Average home price: $158,930
Iowa, along with Wyoming and Idaho, are constantly attracting buyers from out of state who are sick of dealing with high housing costs. Expect to see tons of people moving from coastal states to Iowa.
Average home price: $160,589
There are so many things to enjoy about living in Kentucky, from sprawling nature to fine country music. You’ll also enjoy horse races and some of the world’s best Bourbon.
Average home price: $167,540
If you don’t mind a few tornados every now and then, Kansas is a great place to be. Plus, it’s one of the leading agricultural states in the nation.
Average home price: $168,226
People often underestimate Ohio. Even in the vibrant and bustling city of Cleveland, it is still very much possible to find homes for as little as $50,000.
Average home price: $172,769
Indiana goes beyond cornfields. Even outside of the hustle and bustle of Indianapolis, you’ll find plenty of lovely midwest living.