5 Cities That Have Affordable Real Estate Prices 2023 – For Buyers Who Want Homes Under $75K

Real estate prices can vary greatly based on a variety of factors such as location, economic conditions, and local housing supply and demand.

That being said, here are 5 cities that have affordable real estate prices 2023.

Memphis, Tennessee

The Memphis real estate market is currently one of the most affordable in the U.S. as the market has been an area of interest for both potential homebuyers and real estate investors.

Cleveland, Ohio

Cleveland was a dying rust belt city, but it is coming back. Cleveland is a huge medical center. Prices are cheap now, but it could go the way of Cincinnati and get more expensive in the near future.

Johnstown, Pennsylvania

Johnstown is another rust belt city that has seen a decline in population and a decrease in residential property values. At the same time, however, residential rental prices have risen 2.2% each year.

Detroit, Michigan

Due to a number of factors, Detroit, has seen a rise in the number of abandoned homes in recent years.

Two billionaire investors have been trying to revitalize Detroit. Even with their billions, it has been hard, but the city may slowly be coming around for a comeback. There are still great deals to be had.

Peoria, Illinois

Peoria, Illinois, has a large inventory of older homes in the $50,000s. Condition and location within the city, of course, play a factor.

 

It’s important to keep in mind that real estate markets can change rapidly, and what may be considered affordable at one point in time may not be the case in the future. It’s always best to do your own research and consult with a local real estate expert before making any decisions.