Prices keep rising, but bargains aren’t going away
Thirteen years ago, the median home sale price in the United States was $190,000, and a household needed an annual income of $35,600 to afford it. Today, that picture looks much different.
After two years of price increases, home affordability has fallen to record lows, with the typical home selling for $440,000 in August. Even though mortgage rates have come down, buyers still need to earn more than $112,000 a year to afford a median-priced home. That’s about $25,000 more than the average household income and three times the income needed in 2012. The result? Declining sales, fewer listings, and little buyer activity.
Still, that doesn’t mean there aren’t any affordable options left. In parts of the Midwest, South, and Northeast, many homes sell for less than $200,000, and some in the low $100,000s. And all over the country, even in the most expensive markets, there are affordable gems waiting to be discovered.
Find out what you can buy for under $200,000 in 10 US cities. We’ve highlighted three listings per city to give you an overview of what their price range is.
>> Read: America’s cheapest cities in 2025
How much income do you need to buy a $200,000 home?
As of September 2025, a buyer would need an income of about $50,000 to comfortably afford a $200,000 home. This assumes a 20% down payment, 6.4% mortgage rate, and typical taxes and insurance costs for a median priced home ($444,000).
You can use Redfin’s mortgage calculator to calculate your specific monthly housing costs.
It’s worth noting that many buyers who shop in the $200,000 range may have incomes that are lower than the median income for their city, so while a market may seem affordable on paper, it may not be affordable for those who need it.
What do 200,000 homes across America look like?
1. Detroit, Michigan
Median sales price: $220,000 | Median household income: $39,209
Detroit is the most affordable major city in the nation, with nearly half of the homes priced near $200,000. Prices are falling in this Rust Belt mecca due to a variety of factors, but the main ones are a declining population, less economic investment, and an aging housing stock. But in recent years, the city has undergone strong revitalization efforts, attracting new businesses and residents.
Here are some examples of homes under $200,000.
8229 Carlin St, Detroit, MI 48228: $200,000 | 4 beds, 1.5 baths, 1,973 square feet 23424 Clarita St, Detroit, MI 48219: $145,000 | 4 beds, 1.5 baths, 1,495 square feet 14985 Tacoma St, Detroit, MI 482057: $75,000 | 3 beds, 2 baths, 2,000 square feet
2. Los Angeles, California
Median Sales Price: $909,000 | Median Household Income: $82,263
As one of the most expensive cities in America, you may be surprised to learn that Los Angeles still has housing options around $200,000. Home prices in Southern California typically exceed $1 million, and people are fighting to live on the vast, glamorous streets of cultural icons, especially in upscale enclaves like Beverly Hills and Hollywood. That said, prices are starting to return to more “normal” conditions, although they are by no means affordable.
If you’re looking to buy a home in Los Angeles on a budget of $200,000, you’ll likely have to settle for a very small condo or living on the outskirts of town. Here are some examples:
617 Cedar Ave #11, Long Beach, CA 90802: $200,000 | 0 beds, 1 bath, 392 square feet 13050 Dronfield Ave #7, Sylmar, CA 91342: $195,000 | 1 bed, 1 bath, 595 square feet 18645 Hatteras St #187, Tarzana, CA 91356: $182,000 | 1 bed, 1 bath, 472 square feet
3. Cleveland, Ohio
Median sales price: $255,000 | Median household income: $43,383
Once an industrial icon, Cleveland has quickly transformed into a vibrant technology hub, straddling the middle ground between old and new, maintaining affordability while investing in new infrastructure and amenities. While many homes remain affordable, some regions still suffer from disinvestment and an aging housing stock. Housing investors have also started buying up lower-priced options, tightening supply and putting upward pressure on prices.
Here’s an example of what you can buy for $200,000 in Cleveland.
6014 Laverne Ave, Cleveland, OH 44129: $199,900 |3 beds, 2 baths, 1,220 square feet 10009 Parmelee Ave, Cleveland, OH 44108: $144,900 |4 beds, 2 baths, 1,358 square feet 7710 Goodman Ave, Cleveland, OH 44105: $84,999 | 3 beds, 1 bath, 1,085 square feet
4. Seattle, Washington
Median sales price: $840,000 | Median household income: $118,745
The Emerald City has an abundance of greenery, but affordable housing is becoming increasingly rare. Seattle home prices have increased 169% over the past 13 years, outpacing national prices by 37%, driven by a tech boom, investor activity and a severe housing shortage. In fact, they have increased so much that more than a third of all homes are now worth at least $1 million.
Prices remain high even as demand slows. However, buyers can still find smaller condos and studios for under $200,000.
138 SW 116th St Unit G15, Seattle, WA 98146: $199,999 |1 bed, 1 bath, 774 sq. ft. 110 SW 116th St, Seattle, WA 98146: $185,000 |1 bed, 1 bath, 672 sq. ft. 19428 Aurora Ave N #332, Shoreline, WA 98133: $185,000 | 1 bed, 1 bath, 605 square feet
5. Pittsburgh, Pennsylvania
Median sales price: $267,000 | Median household income: $66,954
Pittsburgh, a city built on steel and industry, is beginning to transition into a modern hub of technology and growth. Although home prices are rising, they remain low and incomes are increasing enough for the average resident to afford a home. In fact, it’s cheaper to buy than to rent in Steel City. It is the only major city in the country where this still applies.
Many properties sell for under $200,000. Here is a sample.
131 Friday Rd, Pittsburgh, PA 15209: $200,000 |3 beds, 2 baths, 990 sq. ft. 11505 Clematis Blvd, Pittsburgh, PA 15235: $199,000 |3 beds, 2 baths, 1,552 sq. ft. 19 Mackey St, Pittsburgh, PA 15213: $150,000 | 3 beds, 1.5 baths, 1,056 square feet
6. New York, New York
Median sales price: $800,000 | Median household income: $81,228
New York is not an affordable city. Approximately 3 million households spend more than a third of their income on housing, and 20% spend more than half each month. Even rent-stabilized properties, which make up half of the city’s rental stock, are out of reach for many residents. The situation is not getting any better for buyers, as costs continue to rise due to limited supply.
However, if you’re willing to sacrifice space and amenities, there are still options for less than $200,000.
63-61 99th St Unit A4, Rego Park, NY 11374: $200,000 |0 beds, 1 bath, 550 square feet 83-60 118 St Unit 11H, Kew Gardens, NY 11415: $200,000 |0 beds, 1 bath, 595 square feet 34-43 60 St Unit 2B, Queens, NY 11377: $200,000 | 0 beds, 1 bath, 450 square feet
7. Oklahoma City, Oklahoma
Median Sales Price: $275,000 | Median Household Income: $70,040
Oklahoma City is a basketball paradise known for its Midwestern charm, climate, and prices. Typical home prices are nearly half the national average, with many in the $100,000 range. Still, not every local resident can afford a $200,000 home. According to a recent study, the city actually has the widest “middle class” income group in the nation. Those on the lowest income earn far less than the $50,000 needed to comfortably buy a $200,000 home.
Here’s what you can buy in Oklahoma City for under $200,000.
5021 Union Cir, Oklahoma City, OK 73135: $200,000 | 3 beds, 2 baths, 1,773 sq. ft. 2904 Rosewood Ln, Oklahoma City, OK 73120: $155,000 | 2 beds, 2 baths, 1,817 sq. ft. 2221 N Jordan Ave, Oklahoma City, OK 73111: $139,900 | 2 beds, 1 bath, 1,208 square feet
8. Miami, Florida
Median sales price: $557,000 | Median household income: $66,337
Miami is one of the most popular cities for high income earners. In fact, nearby Fisher Island recently became the most expensive ZIP code in the nation, with property values rising as the city grapples with a declining housing supply. Local residents are struggling to meet their obligations. Only 10% of housing is affordable to average income earners, and rentals are similarly unaffordable. However, that doesn’t mean there aren’t deals.
Here’s what you can buy in Miami for $200,000.
7256 SW 94th Pl Unit A1, Miami, FL 33173: $200,000 |1 bed, 1 bath 594 square feet 8415 SW 107th Ave Unit 270W, Miami, FL 33173: $200,000 |2 beds, 2 baths, 985 square feet 1215 SW 32nd Ave Unit 108A, Miami, FL 33135: $200,000 | 2 beds, 1 bath, 755 square feet
9. Houston, Texas
Median sales price: $337,000 | Median household income: $64,361
Like many Sunbelt cities, Houston’s housing market has cooled in recent years as climate risks and years of record increases have driven out some buyers. Now, prices are down, listings are up, and buyers are in control. Additionally, a July Redfin analysis found that 7% of listed properties in Houston could sell at a loss, the fifth-highest share in the nation.
On a typical Houston income, you can easily afford a $200,000 home. It looks like this.
2507 11th St, Galena Park, TX 77547: $200,000 |3 beds, 2 bathrooms, 1,043 square feet 4543 Lelay Cir, Houston, TX 77022: $155,000 |2 beds, 1 bath, 872 square feet 7819 Leonora St, Houston, TX 77061: $85,000 | 2 beds, 1.5 baths, 1,122 square feet
10. Washington DC
Median sales price: $590,000 | Median household income: $106,287
The nation’s capital has a lot to offer, including walkable streets, plenty of green space, and world-class landmarks. However, it remains one of the cheapest cities in the country. Even though renting is now on average more affordable than buying, renters are particularly burdened with costs.
For Washington, DC buyers with a budget of $200,000, here’s what you can expect.
300 M St SW Unit N111, Washington DC 20024: $200,000 | 1 bed, 1 bath, 521 sq ft 4810 Quarles St NE #201, Washington DC 20019: $199,999 | 2 beds, 1 bath, 704 sq ft 824 18th St NE #003, Washington DC 20002: $199,990 | 1 bed, 1 bath, 485 square feet
methodology
All but 1 sold listing (617 Cedar Ave #11) in Los Angeles had active listings on Redfin as of October 3, 2025. Houses with income restrictions were excluded from listing. Housing data is from Redfin as of August 2025. Median income data comes from the U.S. Census Bureau’s 2024 ACS 1-year estimates.
