Cleveland, Ohio has been named one of the most livable cities in America, and real estate values there are low. As of 2014, the average home value of $58,700 makes this a tremendous value. City leaders have taken many strides to help the economy recover in the city, so investors ought to see a bright future there.
Some of the cheapest real estate in the United States is in Augusta, Georgia. While many flock to the city for the Master’s Golf Tournament every year, residents enjoy an amazing real estate value with the average home being worth about $104,000. Residents also enjoy buying groceries at costs about 20 percent less than the United States average.
Wichita Falls, Texas
The average home value in Wichita Falls, Texas is $91,300. Sheppard Air Force Base provides a solid source of employment for the area. One word of caution to real estate investors, though. The average apartment rents for about $577 a month in this city, compared to an average cost of almost $1,000 in the United States. As of 2014, the increase in oil activity may mean this bargain is very short term.
Jonesboro, Arkansas offers extremely low real estate values. As of 2014, the average home is valued at $133,500. Residents also enjoy much lower than normal costs for health care including over-the-counter medicines. Even more good news for those wanting to move to this city is that it is growing with new high-tech jobs.
Temple, Texas remains a hidden real estate value in 2014. Located just an hour north of booming Austin, Texas, the average home value is $113,200. The cost of living is almost 13 percent lower than the national average. The area enjoys a high employment level with many top-paying jobs provided by the federal government.
The roots of Youngstown, Ohio lie in the steel industry. Like other steel towns, the city has had problems recovering. The average home value in this town is $48,100 as of 2014. The average cost of living in this city near Pittsburgh, Pennsylvania is also much below average.
While Detroit, Michigan is not the bargain it was right after the auto industry pulled out of the city, real estate investors can still find values here. As of 2014, the average home sold for $37,000. Those choosing to move to Detroit may also find incentives to help them lower the move-in cost even more.
The largest city with the least expensive real estate prices is usually Memphis, Tennessee. Nestled on the banks of the river, the city is home to FedEx, International Paper, and AutoZone. As of 2014, the average home value in Memphis is only about $100,000, with some neighborhoods priced under $35,000.
As of 2014, Harlingen, Texas has the lowest cost of living of any city in America. The city’s residents enjoy paying no state income taxes. As of 2014, the median home value is $82,300. The city expects a 30 percent increase in job availability over the next 10 years.
The median home value in Waterloo, Iowa is $109,900. This value has remained constant over the last few years, making it a good investment for those wanting assurance that their investment will not lose value quickly. As of 2014, the average household earns about $38,993 per year.