America’s Heartland, the Midwest, is widely known for its friendly residents, vast farmland, ample wildlife and, of course, the Windy City of Chicago. It is also recognized as one of the most affordable regions to live in the United States.
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In a study from earlier this year , GOBankingRates identified the 100 largest housing markets across the United States, according to Zillow, and examined all active listings under $100,000 sourced by Realtor.com. By calculating the percentage of all listings under that price point, we pinpointed the top cities in the Midwest where you can still buy a house for less than $100,000. Of the top 20 cities with such affordable housing in the United States, 11 are located in the Midwest region. Clearly, this is the place to be when it comes to affordability.
According to the Federal Reserve Bank of St. Louis, the average sales price of a new home in the United States was nearly $493,000 as of August 2024, and the median sales price of a new home was close to $421,000. Across the country, home prices are up nearly 30% from the second quarter of 2020, which makes a $100,000 home an incredible bargain, no matter where you live.