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|
|Connecticut: Hartford-East Hartford-Middletown||399,900||559,900||5|
|Florida: Sebring-Avon Park||295,000||467,990||29|
|Idaho: Mountain Home||375,000||574,900||13|
|Iowa: Fort Madison-Keokuk||125,000||315,000||23|
|Montana: Butte-Silver Bow||373,000||660,000||7|
|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|
|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|
|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|
|Wyoming: Rock Springs||291,000||459,000||9|