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50 Cheapest Places to Buy a House in Every State
Zarah Hamid
11 min read

In This Article:

In this article, we will be covering the 50 cheapest places to buy a house in every state. If you wish to skip our detailed analysis, you can move directly to the 10 Cheapest Places to Buy a House in Every State.

Housing Dynamics in the US

The US housing market has long been subject to a rigid crisis where the supply of houses has been unable to cater to the growing demand. Other than a persistent housing shortage, high mortgage rates have restricted potential home buyers from investing in homes for which median prices have been on the rise.

However, an increasing housing supply has been witnessed in the market. A further increase has also been predicted as long-term interest rates fall. On December 20, Reuters reported that single-family housing starts jumped 18.0% to a seasonally adjusted annual rate of 1.143 million units in November. Single-family homebuilding went up, especially in the Northeast, Midwest, and the densely populated South. Permits for future construction of single-family housing increased to the highest level in November 2023, since May 2022. This new construction had previously been opposed by rising mortgage rates.

Leading Homebuilders in the US

Amid a crisis in the US housing industry, numerous homebuilders continue to offer reasonable living options across the country. Some of these include LGI Homes, Inc. (NASDAQ:LGIH), Beazer Homes USA, Inc. (NYSE:BZH), and KB Home (NYSE:KBH). Let's take a look at what these firms have been up to.

LGI Homes, Inc. (NASDAQ:LGIH) is a leading American home construction company that operates across 36 markets in 21 states. The company has closed more than 65,000 homes up till now. On December 14, LGI Homes, Inc. (NASDAQ:LGIH) reported the opening of two new communities in the Houston market. Emberly in Beasley is the first community that allows a convenient commute to Houston’s top employers and nationally recognized medical facilities. New homes at Emberly start in the $290,000s. Wayside Village is the second community which is situated in northeast Houston and is close to downtown Houston. New homes at Wayside Village start in the $220,000s.

Beazer Homes USA, Inc. (NYSE:BZH) is another popular home construction company in the US. On November 16, Beazer Homes USA, Inc. (NYSE:BZH) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $1.80 and outperformed EPS estimates by $0.41. The company's revenue for the quarter amounted to $645.41 million and beat revenue estimates by $18.11 million. As of December 20, Beazer Homes USA, Inc. (NYSE:BZH) has returned over 153% to investors on a year-to-date basis.

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