Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries US cities with the most homes under $200,000 By: FOX Business June 19, 2024 at 14:16 PM EDT The cost of buying a home in the U.S. is at a record high, but a new study shows where you can find the most homes for sale at less than $200,000, which is roughly half the median. Home prices in the U.S. have been soaring since the pandemic began and show no signs of slowing down, leaving everyday Americans increasingly priced out of the housing market – and many would-be buyers gave up on finding an affordable place years ago.The average home price is up 47.1% since 2020, with the median sale price recently hitting $394,000 according to the latest data from Redfin. Meanwhile, high interest rates and insurance costs are making the affordability crisis worse, pushing the cost of buying a home to a fresh record.It wasn't long ago that it was common for potential homebuyers to find a house priced at $200,000, but that has become much more difficult. According to Realtor.com, over the past several years, the share of homes sold under that price point has gone from roughly half of all sales to less than a quarter of sales in 2023.HOME FORECLOSURES ARE ON THE RISE AGAIN NATIONWIDEWith that in mind, the real estate agency conducted a study to find where the most affordable homes still remain – at least for now.Here are the cities in the U.S. with the most homes available for under $200,000, according to Realtor.com:Median list price: $149,350Number of listings under $200,000: 239Percentage of listings under $200,000: 85%Median list price: $175,000Number of listings under $200,000: 404Percentage of listings under $200,000: 70%Median list price: $138,600Number of listings under $200,000: 214Percentage of listings under $200,000: 70%THE LEAST AFFORDABLE CITIES FOR POTENTIAL HOMEBUYERSMedian list price: $90,000Number of listings under $200,000: 1,586Percentage of listings under $200,000: 64%Median list price: $161,194Number of listings under $200,000: 213Percentage of listings under $200,000: 68%Median list price: $114,500Number of listings under $200,000: 98Percentage of listings under $200,000: 80%AMERICANS EXPLAIN WHY THEY ARE STRUGGLING TO BUY A HOME: ‘SUFFOCATED IN EVERY CORNER’Median list price: $104,000Number of listings under $200,000: 245Percentage of listings under $200,000: 64%Median list price: $143,950Number of listings under $200,000: 133Percentage of listings under $200,000: 68%Median list price: $164,950Number of listings under $200,000: 153Percentage of listings under $200,000: 66%Median list price: $135,475Number of listings under $200,000: 512Percentage of listings under $200,000: 61%GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business' Megan Henney contributed to this report. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
US cities with the most homes under $200,000 By: FOX Business June 19, 2024 at 14:16 PM EDT The cost of buying a home in the U.S. is at a record high, but a new study shows where you can find the most homes for sale at less than $200,000, which is roughly half the median. Home prices in the U.S. have been soaring since the pandemic began and show no signs of slowing down, leaving everyday Americans increasingly priced out of the housing market – and many would-be buyers gave up on finding an affordable place years ago.The average home price is up 47.1% since 2020, with the median sale price recently hitting $394,000 according to the latest data from Redfin. Meanwhile, high interest rates and insurance costs are making the affordability crisis worse, pushing the cost of buying a home to a fresh record.It wasn't long ago that it was common for potential homebuyers to find a house priced at $200,000, but that has become much more difficult. According to Realtor.com, over the past several years, the share of homes sold under that price point has gone from roughly half of all sales to less than a quarter of sales in 2023.HOME FORECLOSURES ARE ON THE RISE AGAIN NATIONWIDEWith that in mind, the real estate agency conducted a study to find where the most affordable homes still remain – at least for now.Here are the cities in the U.S. with the most homes available for under $200,000, according to Realtor.com:Median list price: $149,350Number of listings under $200,000: 239Percentage of listings under $200,000: 85%Median list price: $175,000Number of listings under $200,000: 404Percentage of listings under $200,000: 70%Median list price: $138,600Number of listings under $200,000: 214Percentage of listings under $200,000: 70%THE LEAST AFFORDABLE CITIES FOR POTENTIAL HOMEBUYERSMedian list price: $90,000Number of listings under $200,000: 1,586Percentage of listings under $200,000: 64%Median list price: $161,194Number of listings under $200,000: 213Percentage of listings under $200,000: 68%Median list price: $114,500Number of listings under $200,000: 98Percentage of listings under $200,000: 80%AMERICANS EXPLAIN WHY THEY ARE STRUGGLING TO BUY A HOME: ‘SUFFOCATED IN EVERY CORNER’Median list price: $104,000Number of listings under $200,000: 245Percentage of listings under $200,000: 64%Median list price: $143,950Number of listings under $200,000: 133Percentage of listings under $200,000: 68%Median list price: $164,950Number of listings under $200,000: 153Percentage of listings under $200,000: 66%Median list price: $135,475Number of listings under $200,000: 512Percentage of listings under $200,000: 61%GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business' Megan Henney contributed to this report.