How to Find an Affordable Home••There’s plenty of reasons that it could be a snap to find an affordable home, especially these days with the real estate market lower than it’s been in a while. There are several cities in the Southern United States that provide homebuyers with affordable real estate options priced below $250,000. In the guide below, we outline five of the best places you might consider for your next move based on affordability, quality of life and community features.
Highlights of Southern Locations To Buy a Home for Under $250K
- Lynchburg, Virginia: Affordable homes rated at a median value of $216,265 and the presence of liveliness
- North Carolina: High Point —the “home furniture capital” is offering homes for an average of $206,176.
- Roanoke, VA: While the views from Roanoke might come with a hefty price tag depending on where you are in the U.S., average home values here sit at $224,331.
- Jacksonville, FL: The most populous city in Florida that boasts many different neighborhoods and an average home price of approx. $254,900.
- Baton Rouge, Louisiana: Avg home price $229,000 Baton Rouge is the culture capital of Louisiana
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5 Best Southern Locations To Buy a Home for Under $250K
Lynchburg, Virginia
Lynchburg is a city at the base of the Blue Ridge Mountains and the “City of Seven Hills.” Not only does the city showcase charm, but its affordability is also on display with an average home value of around $216,265.
Key Features:
- Cost of Living: Lynchburg has a very affordable cost of living that is well below the national average. This gives it broad appeal to families and retirees alike.
- Community and Amenities: You’ll find an active community with lots of parks, recreation facilities, and cultural events. There’re also local festivals and farmer’s market which make them even more beatutiful.
- Education: Lynchburg offers access to several colleges and universities, such as Liberty University and the University of Lynchburg.
Economic Factors:
- Median Household Income: Approx $54,015 providing you decent living in this beautiful city.
- Unemployment Rate: Healthy at 2.9% borderline, which suggests a Louisiana job market that remains functionally stable.
High Point, North Carolina
Home to around an average price of $206,176 per home High Point boasts the title: the “home furniture capital of the world”. It is extremely desirable due to its strategic position between Greensboro and Winston-Salem.
Key Features:
- Cultural Hub: High Point is the home of International Home Furnishings Market, held bi-annually in April and October, attracting global visitors.
- Outdoor: There are many parks and green spaces to explore.
- Great For Families: High Point provides great schools and has so many community programs available for families, making it a fantastic place to raise children.
Economic Factors:
- Median Household Income: $54,331 to bolster its low housing market
- Unemployment rate: Approximately 3.6%, indicative of economic stability
Roanoke, Virginia
You will find this historic city of Roanoke, located in the picturesque Blue Ridge Mountains along the banks of the Roanoke River. Homes here have an average value of approximately $224331.
Key Features:
- Beautiful Nature: The Roanoke area offers beautiful mountain views and recreational opportunities like hiking and biking paths.
- Cultural Offerings: The town boasts a vibrant art community with museums, galleries and theaters to interest everyone.
- Community Involvement: There are many events hosted in Roanoke during the year that promote local interaction and pride.
Economic Factors:
- Average Household Income: $48,476 → This keeps its low cost of living sustainable.
- Unemployment Rate: This is a low rate of around 2.6%, suggesting people have good prospects for work in many different areas and sectors.
Jacksonville, Florida
Jacksonville is one of the largest cities in Florida based on land area and population with a variety of neighborhoods to choose from, the average home price is roughly $254,900.
Key Features:
- Various Neighborhoods: Jacksonville boasts a wide range of neighborhoods, from historic districts to contemporary developments by the shore.
- Nearby Activities: From miles of coastline to parks like the Timucuan Ecological Preserve (which offers incredible outdoor activities).
- Cultural Scene: The city features a number of such cultural festivals during the year, featuring music, arts and food.
Economic Factors:
- Median Household Income: Around $58,000 — strong earning potential
- Unemployment Rate: now about 3.5% and indicative of a strong labor market supported by industries such as healthcare and finance
Baton Rouge, Louisiana
Baton Rouge has a lot of history and culture, with homes averaging around $229,000. Brendan is an ancient New Orleans, Louisiana capital and strong arts.
Key Features:
- Culture: The city boasts some great history and, of course, local food. Festivals and fiestas such as Mardi Gras draw in visitors from across the globe.
- Cultural and Educational Experiences: In addition to cultural experiences, Baton Rouge is home to Louisiana State University (LSU).
- Overlapping Interests: There are a number of local fests honoring food and music throughout the year as well, to go along with the sense of neighborhood spirit that residents feel collectively.
Economic Factors:
- Household income median: around $49,000, a boon for the local homes-for-sale sector.
- Unemployment Rate Shows employment at a stable pace of approximately 4%, suggesting sustained work opportunities in many fields like education and health.
Conclusion
For several years now, the Southern U.S. has opened its arms to home buyers on the hunt for affordable listings under $250K — as seen with cities such as Lynchburg and High Point boasting not only affordability but also a wealth of culture and amenities serving as a pace-setter for living well. Whether you want the views of Roanoke, the city life between things to do in Jacksonville, or Baton Rouge’s history — these all offer potential cost-effective options for homebuyers looking for a place to go.
To learn more about area trends or search real estate in these areas, head on over to Trulia or Zillow for purchasing opportunities that fit your needs.