by Samuel Stebbins, Center Square
The first two years of the coronavirus pandemic had a profound impact on the U.S. housing market as Americans fled expensive, high-population areas to mid-sized cities or adjoining suburbs in lower-cost parts of the country. (See how the cost of housing has skyrocketed in these major U.S. cities.)
Low-mortgage rates and high demand for homes in many markets, coupled with a slowdown in new home construction due to pandemic-related disruptions in the labor force and supply chains, often led to intense bidding wars over available homes among prospective buyers.
Though prices have slowed considerably in many markets in 2023 thanks to inflation and higher mortgage rates, they remain elevated and out of reach for the typical household. Still, across the country, there are cities where housing is affordable to a broader range of budgets — at least relative to the state’s broader housing market.
Of the four cities in Vermont with available data from real estate market website Realtor.com, Rutland is the least expensive place for homebuyers. As of April 2023, the median list price in the city was $275,000, compared to the median list price of $447,250 across the state as a whole.
All metro area and state level listing price data in this story is from Realtor.com, a real estate market website, and is for April 2023.
| Cheapest city to buy a home | Median list price in city, April 2023 ($) | Median list price in state, April 2023 ($) | Cities considered in each state |
|---|---|---|---|
| Alabama: Selma | 75,500 | 330,000 | 25 |
| Alaska: Fairbanks | 349,900 | 415,000 | 4 |
| Arizona: Safford | 302,500 | 495,000 | 11 |
| Arkansas: Hope | 119,000 | 289,900 | 21 |
| California: Susanville | 308,950 | 750,000 | 34 |
| Colorado: Sterling | 245,000 | 639,925 | 17 |
| Connecticut: Hartford-East Hartford-Middletown | 399,900 | 559,900 | 5 |
| Delaware: Dover | 409,500 | 494,900 | 1 |
| Florida: Sebring-Avon Park | 295,000 | 467,990 | 29 |
| Georgia: Thomaston | 183,700 | 395,400 | 37 |
| Hawaii: Hilo | 645,000 | 852,500 | 4 |
| Idaho: Mountain Home | 375,000 | 574,900 | 13 |
| Illinois: Macomb | 69,900 | 310,000 | 26 |
| Indiana: Marion | 92,500 | 299,900 | 38 |
| Iowa: Fort Madison-Keokuk | 125,000 | 315,000 | 23 |
| Kansas: Atchison | 120,000 | 314,825 | 19 |
| Kentucky: Maysville | 92,500 | 299,950 | 21 |
| Louisiana: Minden | 140,000 | 289,250 | 18 |
| Maine: Bangor | 265,000 | 425,000 | 4 |
| Maryland: Cumberland | 139,900 | 420,000 | 7 |
| Massachusetts: Springfield | 369,000 | 759,000 | 6 |
| Michigan: Saginaw | 149,000 | 280,000 | 31 |
| Minnesota: Marshall | 186,185 | 400,000 | 22 |
| Mississippi: Clarksdale | 55,000 | 279,900 | 22 |
| Missouri: Kennett | 102,200 | 300,000 | 25 |
| Montana: Butte-Silver Bow | 373,000 | 660,000 | 7 |
| Nebraska: Scottsbluff | 254,950 | 371,900 | 12 |
| Nevada: Fallon | 386,780 | 475,000 | 9 |
| New Hampshire: Berlin | 249,991 | 549,000 | 6 |
| New Jersey: Vineland-Bridgeton | 269,900 | 518,000 | 4 |
| New Mexico: Deming | 189,000 | 375,000 | 19 |
| New York: Olean | 125,000 | 639,945 | 27 |
| North Carolina: Laurinburg | 209,450 | 419,720 | 37 |
| North Dakota: Jamestown | 179,900 | 332,060 | 8 |
| Ohio: Portsmouth | 129,500 | 249,900 | 42 |
| Oklahoma: Miami | 147,000 | 315,000 | 21 |
| Oregon: Hermiston-Pendleton | 355,000 | 569,900 | 20 |
| Pennsylvania: Johnstown | 98,500 | 290,000 | 35 |
| Rhode Island: Providence-Warwick | 529,900 | 525,500 | 1 |
| South Carolina: Bennettsville | 127,170 | 359,925 | 16 |
| South Dakota: Vermillion | 199,900 | 369,900 | 11 |
| Tennessee: Union City | 187,000 | 444,900 | 27 |
| Texas: Vernon | 109,250 | 384,900 | 71 |
| Utah: Price | 414,000 | 619,900 | 9 |
| Vermont: Rutland | 275,000 | 447,250 | 4 |
| Virginia: Big Stone Gap | 154,500 | 449,000 | 12 |
| Washington: Moses Lake | 383,700 | 649,000 | 20 |
| West Virginia: Mount Gay-Shamrock | 105,000 | 229,900 | 13 |
| Wisconsin: Marinette | 222,400 | 374,900 | 23 |
| Wyoming: Rock Springs | 291,000 | 459,000 | 9 |
Categories: Housing
While the US has been experiencing a chronic shortage of housing, particularly affordable units, rented or owned, for decades, the democrats in charge still think that it is a good idea to let millions of indigent migrants cross our borders and take up residence here. A majority of us voted for this scenario.
Try even getting a hotel in Massachusetts now. They are filled with illegals and guess who is paying for them…..the US taxpayer.
Massachusetts offered a huge rate increase to the motel owners to take in migrants and the “unhoused” and military veterans are now having to look for other places to live…liberal idiots…just like in VT.
That stuff started in NYC 40 years ago. And it will continue because the motel owners make a huge windfall renting to the govt instead of your average consumer.
Try getting a hotel room in Massachusetts now…..the hotel’s are filled with illegals and guess who is paying for all of it…..The US taxpayers are!!
I got one for next Wednesday it was easy, what is your point?
Median values tell you nothing, it’s just a numbers game. I bought a 3Br house in Vt for 42k just a few years ago. There are always bargains for the intelligent shopper
The writer of the article does not specify whether the Municipality is Rutland Town or Rutland City. It could be either one.
Housing market go “boom” and bust – way, way larger than 2008. Now that our goverment is looking to blow up the Middle East, figuratively and literally, what do you think oil prices will be in the next week or so? Will we even get oil or anything else if the shipping lanes are blocked or shut down? Anyone watching the bond market lately? Has anyone looked at the real numbers of business closures, commercial and personal bankruptcies, auto repossession, delinquencies, mass layoffs, and striking UAW workers spreading? Grammy Yellen says our economy is in good shape! Carry on suckers!