Though the housing market may have seriously suffered during the 2008 recession, it’s bounced back and is currently going strong. An improved housing market is great news, but not if you have a tight budget when it comes to shopping for a new home. Fortunately, you’re in luck, because there are plenty of towns or small cities where you can still find a beautiful home around $100,000 or less, which seems like a pretty great deal. While this may fall slightly out of my commercial real estate wheelhouse, I’m still passionate about the real estate market at large. Take a look at the following towns that offer great homes for a great price. It may be just the right time to explore your options!
- Park Forest, Illinois
This town has a population of nearly 22,000 and is around 30 miles outside of Chicago. Park Forest was built after World War II and originally intended as a place for veterans to live after they’d returned home. The price of the average home in Park Forest is around $78,392, a great price when a major city hub like Chicago is a simple commute away.
- Wilkes-Barre, Pennsylvania
Wilkes-Barre was founded in the late 1700s and then rapidly grew after a coal reserve was discovered nearby. Hundreds of thousands of people moved into the area and it became a coal-mining town, with massive industrialization in the 20th-century. After World War II, the population and economy declined, so now Wilkes-Barre has a population of 40,780, which makes it a fairly small city. The downtown area has been revitalized and the city is a beautiful place to live, especially with the gorgeous views of the surrounding Pocono Mountains. The average home price is $94,436.
- Augusta, Georgia
Historical cities in Georgia usually carry a hefty price when it comes to real estate, but this issue is not the norm in Augusta, Georgia. This city sits on the Savannah River and is famous for hosting The Masters, an annual golf tournament that attracts thousands. If you like warm weather, this might be the city for you, with its mild winters and hot summers. The population is around 197,182. The city is also known for its historic districts and stunning architecture, where you can purchase a house for around $106,567.
- Jamestown, New York
This lovely town is surrounded by towns and located near Lake Erie and the Allegheny National Forest. It’s also known as the birthplace of Lucille Ball. The population is around 30,075 and the town has a beautiful downtown area. It’s a great place to live and the average home price is being $88,891.
- Huntington, Indiana
Huntington was known as the “Lime City” for a period of time and has a population close to 17,095, which makes it fairly small. Various historic buildings are located throughout the town and it sits fairly close to Fort Wayne. It’s a pretty typical midwestern town that truly creates the feeling of living in a small-town. The average home goes for close to $105,567.
What towns and cities top your list of affordable markets? Do you currently live in a real estate hotbed?