Where to Buy Cheap Houses Now

Can you still buy cheap houses? Yes, and I am not referring to buying foreclosures or distressed properties (although these are good ways too). There are still places around the country that never did have a real estate bubble, and where you can still buy homes below $50,000.

I was recently looking through a real estate guide that had many examples of places to buy cheap houses. It covered at least fifteen different states, and had properties of all types. It was aimed primarily at buyers for country properties, but included many house in small towns. Here are a few examples.

Note: This is not meant as a sale's guide, but only to show you what is out there as of 2008. Most of these homes will likely be sold by the time you read this.

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

Dumas, Arkansas - $49,500 for a three-bedroom ranch style home with a brick and siding exterior. Farmland behind backyard, on low-traffic road. $15,000 for a 1,900 square-foot three-bedroom, tow-bath home on a corner lot, with fishing nearby. I assume this one is a fixer-upper, although it doesn't suggest this.

Mountain Home, Arkansas - $49,900 for a cute home on a corner lot in town. Two bedrooms, a spacious living area, and new laminate floors in the kitchen and bedroom.

Metropolis. Illinois - $49,000 for a four-bedroom three-bathroom split-level home. Needs to be remodeled inside (but it looks good in the photo). Also has a two-car garage.

Olive Branch, Illinois - $48,000 for a two-bedroom, two-bath brick home that has been recently renovated. Surrounded by mature shade trees. Full basement and garage.

Onawa, Iowa - $29,900 for a "very well kept home." Three bedrooms, newer bathroom, garage and carport. Floors, carpet and roof all newer. Fresh paint. Fenced backyard with a storage shed. (And people think there are no more places to buy cheap houses.)

Near Ironton, Missouri - $25,000 buys you a country home near town, but one that needs some work. Two bedrooms, two outbuildings, woods and fruit trees.

Marceline, Missouri - $40,000 for a two-bedroom house just out of town. Has a large living room, a huge fenced yard and space for a garden.

Monett, Missouri - $35,900 buys a four-bedroom home with new wiring upstairs, and a newer roof. The three bedrooms upstairs need closets.

Trenton, Missouri - $36,500 gets you an "excellent starter," Three bedrooms, partial basement, laundry room, garage, covered porch, patio, and it's on city water and sewer. 1,400 square feet.

Shelby, Montana - $42,500 for a three-bedroom bungalow with garage.

Alva, Oklahoma - $26,000 for a cute two-bedroom house. Remodeled bathroom, new paint in living room, and a garage. $28,500 buys a two-bedroom home in town with newer carpets and a full basement - in a nice neighborhood. $10,000 for a two-bedroom fixer-upper near University.

Blackwell, Oklahoma - $32,500 for a "well cared for" two-bedroom on a corner lot. New appliances, large living room, double carport and a small workshop.

Holdenville, Oklahoma - $39,900 buys a three-bedroom house on a corner lot, with laminate wood floors and a screened back porch. Fenced backyard with cellar, and a garage.

Near Buffalo Gap, Texas - $36,000 for a two-bedroom limestone house a short walk from the Brazos River. Low-traffic area with fishing and hunting opportunities.

Eastland, Texas - $45,000 for a totally remodeled three-bedroom, two-bath home close to downtown. Near a park and has a newly added master bedroom and bath.

Obviously you can still buy cheap houses in more than a few areas of the country. These examples were from ONE real estate guide that my wife happened to pick up while we were vacationing. It was published by UnitedCountry.com, by the way, in mid 2008. (Although you'll always be able to buy cheap houses somewhere, things do change. I will try to keep these pages dated so you know how old the information is.)