This is the least expensive housing market in Florida

    Homeownership was once a cornerstone of the American dream. But for a growing share of the population, it is now more akin to a pipe dream. Within the last two years, real incomes have been crushed under the weight of historic inflation. At the same time, the Federal Reserve's interest rate hikes have sent mortgage rates soaring.

    With reduced buying power and increased borrowing costs, consumer interest in the real estate market has cooled. The number of existing home sales in the U.S. declined by 23% from April 2022 to April 2023, according to the National Association of Realtors. But while demand from home buyers has fallen, home prices have not. (These are the states with the worst housing shortages for low income Americans.)

    According to the real estate market website Realtor.com, the median list price for a home in the United States was $441,445 in May 2023 - 2.7% higher than it was a year earlier. But while such prices are prohibitively high for most Americans, there are parts of the country where homes are selling for far less and where homeownership is still possible for those on a modest budget.

    Of the 66 counties in Florida with available data from Realtor.com and at least 10 homes actively listed, Hamilton County has the least expensive housing market. As of May 2023, the median list price in the area was $232,000, compared to the statewide median list price of $475,000.

    All data in this story is from Realtor.com.

     

    StateCounty or county equivalent with cheapest housing marketMedian list price in county/county equivalent ($)Median list price in state ($)Counties/county equivalents considered
    Alabama Dallas 70,500 336,750 63
    Alaska Hoonah-Angoon 219,975 415,400 12
    Arizona Graham 323,500 500,000 14
    Arkansas Jackson 79,425 291,075 66
    California Alpine 41,175 774,500 57
    Colorado Crowley 164,900 649,450 57
    Connecticut Hartford 386,950 579,900 8
    Delaware Kent 417,225 499,997 3
    Florida Hamilton 232,000 475,000 66
    Georgia Terrell 96,175 400,000 131
    Hawaii Hawaii 617,944 850,000 4
    Idaho Butte 256,250 589,500 43
    Illinois Greene 51,350 321,150 85
    Indiana Sullivan 88,700 306,475 89
    Iowa Page 112,500 319,950 91
    Kansas Cloud 69,425 321,632 63
    Kentucky Letcher 103,000 307,364 105
    Louisiana Evangeline 113,875 289,950 60
    Maine Aroostook 189,000 439,475 16
    Maryland Allegany 122,350 426,780 24
    Massachusetts Hampden 344,175 799,000 14
    Michigan Iron 115,600 292,450 82
    Minnesota Faribault 119,725 409,950 82
    Mississippi Humphreys 79,000 284,000 68
    Missouri Knox 62,363 301,350 105
    Montana Phillips 160,375 675,000 39
    Nebraska Furnas 134,900 372,513 43
    Nevada Mineral 180,000 469,750 14
    New Hampshire Coos 261,975 549,950 10
    New Jersey Cumberland 254,975 544,500 21
    New Mexico Cibola 156,875 382,475 28
    New York Livingston 124,900 654,475 62
    North Carolina Northampton 134,950 425,000 99
    North Dakota Pierce 139,500 349,350 23
    Ohio Jefferson 99,850 257,500 87
    Oklahoma Woods 85,125 319,950 66
    Oregon Harney 295,000 579,925 33
    Pennsylvania Cambria 85,500 299,000 66
    Rhode Island Providence 409,900 537,000 5
    South Carolina Marlboro 143,440 360,995 45
    South Dakota Perkins 98,000 372,375 27
    Tennessee Lake 112,400 449,995 95
    Texas Hall 86,499 389,950 210
    Utah Emery 305,000 629,900 26
    Vermont Essex 235,950 454,500 14
    Virginia Buchanan 64,725 456,062 122
    Washington Adams 378,725 650,000 37
    West Virginia Mcdowell 59,175 239,495 47
    Wisconsin Florence 194,925 375,000 70
    Wyoming Washakie 218,750 477,500 22