Los 40 USA
Sign in to commentAPP
spainSPAINchileCHILEcolombiaCOLOMBIAusaUSAmexicoMEXICOlatin usaLATIN USAamericaAMERICA

REAL ESTATE

These are the cheapest neighborhoods per square foot in the US in 2024

The northeast, midwest, and south of the United States have the lowest-priced homes in the country. Here’s where you can find the cheapest US neighborhoods.

Los impuestos a los propietarios de vivienda aumentaron el año pasado, según un nuevo análisis. Conoce los estados donde se paga más.
KAREN DUCEYREUTERS

Last year was a frustrating one for people who wanted to buy a house, with home affordability reaching its poorest level in decades. For those who want to continue their search in 2024, you may want to consider the areas in the country with the lowest real estate prices.

Housing prices vary from state to state, with the Northeast, Midwest and South of the United States recording the cheapest properties based on price per square foot, according to a new report from home warranty company American Home Shield.

According to the analysis, the most expensive neighborhoods in the country can be found in California, Florida and New York, while the cheapest ZIP codes can be found in the area known as the Rust Belt, which includes the Northeast and Midwest of the United States, as well as southern parts of the country.

The cheapest neighborhoods in the US

The analysis was conducted using Homes.com’s neighborhood search database to find average price per square foot data for more than 22,000 neighborhoods nationwide.

The company then ranked the most and least expensive neighborhoods to buy property at the national level, at the state level (excluding Montana, South Dakota, Wyoming, North Dakota and Virginia, where data was not available), and for major cities. According to the results, these are the neighborhoods with the lowest prices per square foot:

  • Homewood, North Allegheny County, Pennsylvania  - $29 per square foot
  • West Jackson, Hinds County, Missouri - $32 per square foot
  • Downtown Gary, Lake County, Indiana - $32 per square foot
  • Metawanee Hills, Genesee County, Michigan - $32 per square foot
  • Uptown Memphis, Shelby County, Tennessee - $33 per square foot
  • Wells/Goodfellow, St. Louis City, Missouri - $33 per square foot
  • Onyx, Lucas County, Ohio - $34 per square foot
  • Queensborough, Caddo Parish, Louisiana - $35 per square foot
  • Industry, Delaware County, Indiana - $35 per square foot
  • Roosevelt, Lucas County, Ohio - $35 per square foot

Although these locations are cheaper and could offer more affordable properties, they may also have some disadvantages, such as a lack of job opportunities or housing options.

READ ALSO: When will my refund arrive if I filed my taxes on the first day?

READ ALSO: Find out how long to wait for your immigration application

The most expensive neighborhoods

Meanwhile, the most expensive neighborhood in the US is San Francisco’s South of Market. Buying property in this area will cost about $5,415 per square foot, or about $5.4 million for a 1,000-square-foot apartment. To make a comparison, in the cheapest location, which is Homewood, Pennsylvania, that same-sized home would only cost about $29,000.

Most expensive neighborhoods in the US

  • South of Market, San Francisco, California  - $5,415 per square foot
  • Northwest Auburn, Placer County, California - $4,416 per square foot
  • Old Town Carpinteria, Santa Barbara County, California - $4,129 per square foot
  • Downtown Bellevue, King County, Washington - $3,619 per square foot
  • Port Royal, Collier County, Florida - $3,375 per square foot
  • Aqualane Shares, Collier County, Florida - $3,132 per square foot
  • Stinson Beach, Marin County, California - $2,988 per square foot
  • Star, Palm & Hibiscus Islands, Miami/Dade County, Florida - $2,861 per square foot
  • Crystal Cove, Orange County, California - $2,771 per square foot
  • Casa del Largo, Palm Beach County, Florida - $2,754 per square foot