Where to Find Cheap Homes for Sale

Cheap Houses | Nice Towns

There are cheap houses for sale in most areas of the country, but sometimes they are in towns you just haven't heard of or visited. When we lived in Traverse City, Michigan, we became aware that in Cadillac, less than an hour away, the houses cost only half as much. Cadillac is a great little town with a large lake right in town, and all the amenities we needed. We eventually decided on Colorado for a home, but when I checked recently, there were still 20 houses for sale for less than $50,000 in Cadillac.

That's the criteria for this page; nice towns with cheap houses (with at least two bedrooms) for sale--at least a handful of homes under $50,000.

For towns with with really cheap houses, see, "More Places To Buy A Cheap House."

For more adventurous house-hunters, there is a page on Buying Real Estate In Mexico.

Towns that are not dirt-cheap, but and nice; The Most Affordable Places To Live.

Our 2011 update page adds five great towns to consider : Cheap Towns to Live In

2012 Update; latest prices and a couple new towns: Cheapest Homes

Also, be sure to read our story of buying a home for $17,500 in Anaconda, Montana. Finally, since many of the towns where you can buy inexpensive homes are smaller, there is a page on adjusting to Small Town Living.

Towns with Cheap Homes for Sale

Cherokee Village, Arkansas

With a population of only around 5,000 you might miss some of the amenities of larger cities here, but the beautiful surroundings will make up for that. There are forests, hills, rivers and woods. The median home price was less than half that of the country as a whole in 2007, and there were several homes for under $50,000 when I looked in 2009. I fact, according to the statistics on city-data.com the median home price dropped to $50,000 in 2009.

I am also told by a person who lives in that area that you can find a home on one of the lakes or rivers around town for under $200,000. Waterfront property is much more expensive that that in most parts of the United States.

2011 Update: There are only a few homes listed for under $50,000.

2012 Update: T

Warren, Pennsylvania

The City of Warren, Pennsylvania is on the Allegheny River in the northwest section of the state. It has more than 10,000 residents and is the center of the county's business, tourist, and recreational endeavors (it is the county seat). Warren has 21 parks with 180 acres and is the gateway to the Allegheny National Forest. The area has a population of approximately 25,000, and the city claims to have a diversified economic base, with 106 manufacturers employing 6,900 people. The cheapest house for sale the last time I checked (August 2007) was $29,000, and there are approximately a dozen more under $50,000.

2011 Update: There are about two-dozen homes that are priced under $50,000.
2012 Update: A dozen listings under 50k and a dozen more under 100k.

Alpena, Michigan

Alpena is located on Thunder Bay on Lake Huron's northwestern coastline, at the mouth of the Thunder Bay River. It has retained much of its architectural tradition from the turn of the last century, with well-preserved houses and buildings - especially in the "old town" section just north of the Thunder Bay River. It has a nice downtown area, next to the marina, where many summer boaters come in for a visit - including scuba divers checking out the Thunder Bay Underwater Preserve just off the coast. Alpena's economy is supported by tourism, cement production, paper processing, automotive and machine products manufacturing. The fishing is great in the area, with ice fishing the most popular form. The last search I did showed dozens of cheap homes for sale, the cheapest priced at $38,000 (three bedroom, might need some work).

2011 Update: Six dozen homes listed for less than $50,000, and a dozen under $30,000.
2012 Update: Still ten listings under $30,000.

London, Kentucky

London is centrally located along Interstate 75 between the Daniel Boone & Cumberland Gap Parkways. It is close to five state parks and two national parks, as well as Laurel Lake, known for it's crystal clear waters. There are a few cheap stick-built houses for sale in the 40's, and some mobile homes on property for less than that.

2011 Update: Most homes are currently listed for more than $50,000.
2012 Update: A few under 50k; modulars and mobiles under 30k.

Hot Springs, Arkansas

A vacation destination for many years because of the National Park of the same name, Hot Spring's historic landmarks and buildings include classic hotels, Victorian architecture, world-class art studios, restaurants, nightclubs and famed Bathhouse Row. It is also the hometown of former President Bill Clinton. The town is located in the Diamond Lakes region of the scenic Ouachita Mountains. Crystal hunting, fishing, water sports, hiking, golf, camping, site seeing and horseback riding provide year-round opportunity for outdoor recreation. Despite all of these good things, you can still buy a cheap house in Hot Springs. There were five or six under $50,000 as of August 2007.

2011 Update: More than 80 under $50,000, and even a couple under $30,000.
2012 Update: A good variety of cheap houses and condos still.

Fort Madison, Iowa

On the banks of the Mississippi River, in southeastern Iowa, Fort Madison is small town (population 10,700, full of Victorian homes and antique stores. It also has a riverboat casino during the summer months, which is docked 20 miles upstream in the winter. The crime rate is half of the national average - common with these small towns. There were a dozen or so homes listed for sale under $50,000 as of August, 2007, including a couple fixer-uppers under $20,000.

2011 Update: About 20 are priced at less than $50,000 at the moment.
2012 Update: Few that are really cheap, but some decent listings under $100,000.

How to Find Cheap Homes for Sale

If you want to research any of the towns listed here, or if you want to find other towns with affordable housing, visit the page, "Find Your Own Inexpensive Homes." There is some good information on how to search for the towns, and on where to get the prices of the houses for sale there.

The latest update, with new towns added, is here: Cheap Homes for Sale.

Also, to make any home cheaper, review the page, "Real Estate Negotiation Techniques."