Cheap Towns to Live In

As the new year starts, here is our 2011 update on cheap towns to live in the United States. By cheap towns we really only mean those with cheap houses. Grocery prices don't vary much around the country, but certainly taxes and insurance costs do--something to keep in mind. Our other selection criteria for "worthy" towns are somewhat personal, but we outline what we want to see besides cheap homes on this page:

Inexpensive Homes: Our Criteria

My, how times have changed in a few short years, and so we have a few new additions to our collection of suggestions for cheap towns. Those are followed by updates on town previously covered.

Coral Springs, Florida

This warm and green town is near the ocean, less than an hour from an international airport (Miami), and has one of the lowest crime rates in Florida for cities with a population of over 100,000 residents. As of the start of 2011, there are a couple hundred homes with at least two bedrooms and two bathrooms for less than $50,000. That's a lot to choose from, although they are almost exclusively condos. There are even nine of these condos which are listed for less than $30,000 at the moment. Most of them are less than 30 years old. Who would have though Florida by the ocean could get this cheap?

2012 Update: The inventory is getting cleaned out; although there are still condos starting in the 20s, there are no houses listed under $50,000 at the moment.

Myrtle Beach, South Carolina

A town on the ocean with miles of beaches, Myrtle Beach is famous for its many world-class golf courses and as a spring break destination for college students. The permanent population of around 31,000 makes for a quiet town in the winter, but that number doubles or triples during the tourist season, and a friend who has lived and worked there tells us that the nightlife is great at that time. Like many other places around the country, developers over-built condos here during the boom, and now you can buy them cheap. Some are less than 5 years old, and as of this writing there are almost a dozen under $30,000 plus dozens more under $50,000. Taxes are high, but there aren't many places where you can buy a home for under $50,000 that is within ten blocks of the beach. Cheap towns to live in within walking distance of the ocean--times certainly have changed.

2012 Update: There are still cheap condos; one for $24,900.

Ashland, Wisconsin

At the head of Chequamegon Bay on the south shore of Lake Superior, Ashland has only about 8,000 residents. This is a town for those who like boating, fishing, and hiking--and want four distinct seasons. It has a major Lake Superior port, and is a gateway to northern wildernesses like the Apostle Islands. Considering the small size, having around 20 listings of livable homes under $50,000 isn't too bad, and a few of those are under $30,000.

2012 Update: Only a few cheaper listings are available; they appear to be fixer-uppers.

Pueblo, Colorado

Pueblo is growing, but slowly (less than 3% in the last ten years). It has a bit more than 100,000 residents at the moment, and a downtown area that is being revitalized by the River Walk Project and new condominium developments. One of the main attractions of Pueblo is that it is close to so many beautiful places in Colorado, with home prices far cheaper than any of those areas. Of the 150 homes currently listed for sale under $50,000, and the 20 that are under $30,000, some are certainly fixer-uppers. But there are some good ones to be found, and another 500 are still less than $125,000.

2012 Update: Almost as many as last year; good rental investments here.

Traverse City, Michigan

I never thought that our former town on Lake Michigan would be included on this website or any list of cheap towns to live in, but times are tough in the Great Lakes State. Yes, there are now a few homes here that are under $50,000. Seventeen at last count, and although four or five of those are mobile homes, they are mobiles on land, not ones with lot rental fees. A great summer town, Traverse City has about 15,000 people living within the city limits, many more in the surrounding areas, and 100,000 more during the annual Cherry Festival. The Traverse City Film Festival, started by Michael Moore, is also becoming a big event in this tourist/resort town.

2012 Update: Fewer really cheap options, but more listings under $100,00 than ever.

2011 Updates on Cheap Towns to Live In

The pages detailing the following towns have their titles links to them below. (See The Cheapest Homes in 2012 for the latest updates.)

Cheap Houses--Nice Towns - This was one of the original pages on towns with houses under $50,000. A few facts about the towns are listed on that page. Here are some updates:

Cherokee Village, AR - Only a couple homes left under $50,000, and less than 20 under $125,000.

Warren, PA - Two dozen two-bedroom and three-bedroom homes under $50,000.

Alpena, MI - 70 houses under $50,000, a dozen of those under $30,000.

London, KY - Plenty of homes under $125,000, but only a couple cheaper than $50,000.

Hot Springs, AR - More than 80 houses listed for under $50,000, some under $30,000.

Fort Madison, IA - Still about 20 for less than $50,000.

Places to Buy a Cheap House - The towns originally listed here had at least a handful of homes selling for less than $30,000. here is where they are at now...

Altoona, PA - More than three dozen homes with two or three bedrooms listed for under $30,000.

Keokuk, IA - Over 40 listings under $50,000, about 10 of those under $30,000.

Independence, KS - 69 homes under $50,000, 11 of those less than $30,000.

Most Affordable Places to Live - After the site started prices rose substantially almost everywhere--until the boom ended. Because of that, in 2006 we added this page with towns boasting homes under $125,000.

Alamogordo, NM - More than 200 under $125,000, and now even a dozen listings under $50,000.

Aberdeen, WA - 150 under $125,000, two dozen under $50,000, and two ugly ones under $30,000.

Hickory, NC - 500 under $125,000, 77 under $50,000, and a dozen under $30,000.

Colorado Springs, CO - Well over 700 homes for less than $125,000; a few condos under $50,000.

This page also has a bit of information on the following cheap towns (number of homes listed under $125k and $50k in parenthesis):

Rawlins, Wyoming (65, 8)
Marquette, MI (67, 12)
Austin, TX (830, 17)
Klamath Falls, OR (288, 23)
Ridgecrest, CA (134, 32)
Butte, MT (120, 20)

Anaconda Montana - This is the town that inspired this website, but the handful of homes left for less than $50,000 appear to all be in need of some fixing.

Canon City Real Estate - This is where my wife and I currently reside. There are 103 listings for homes under $125,000 at the moment, and of the 15 that are under $50,000, half are old homes needing some work and half are mobile homes on property.

Inexpensive Houses - This page looks at a few cheap towns and cities based on price-to-income ratios, a measure that takes into account the average wages for the area.

Cheap Homes for Sale - A mid-2011 update.

Clearly there are some cheap towns to live in out there, and a few more than there were five years ago.