The median home price in America is now $428,000, according to the St. Louis Federal Bank. These affordability issues are now compounded by mortgage rates that have been rising throughout 2022 that the pros say we might see them go up even more (see the lowest mortgage rates you can get right now here). So we asked Realtor.com to expect Erik Gunther to help us identify great homes that will cost you under $150,000.
If you want warm weather:
3 bedroom farmhouse in Blountstown, Florida $139,900
Blountstown is a small town just over an hour inland from Panama City Beach with a rustic feel and warm weather year-round. For just under $150,000, you can buy this three-bedroom home with hardwood floors on 0.35 acres of land. “Check out the old tile work in the bathroom!” Gunther says of the listing, which notes that the structure could easily be converted into a four-bedroom, two-bath home with a little bit of construction.
If You’re an Artist: A Dome-Style House in Ajo, Arizona $100,000
A tight budget doesn’t necessarily mean a cookie-cutter home. In fact, you can buy this adobe dome house in the small town of Ajo for $100,000. Featuring two bedrooms, two bathrooms, a loft, and a private gated property, this listing is located in the middle of the Sonoran Desert just over fifty miles north of the Mexican border. Formerly a copper mining hub, Ajo has a thriving local culture, and offers plenty of access to natural wonders including Organ Pipe Cactus National Monument, which has a biosphere rich in flora and fauna. Curley School, a public school in the city, was recently converted into 30 affordable living/work spaces for artists, artisans and creative businesses.
See the lowest mortgage rates you can get right now here.
If You Want Wilderness: One-Bedroom Cabins in Pagosa Springs, Colorado 145,000 dollars
Filled with a wood-burning stove and composting toilet, this one-bedroom cabin sits on acres of land with stunning views of the Rocky Mountains. “If you’re looking for something off the grid, this hunter’s cabin is just the ticket,” says Gunter. Pagosa Springs is known for its geothermal hot springs, and has a few shops and restaurants.
If you have a family: This four-bedroom home in Ashland, Maine 135,000 USD
Located in the northern part of Maine near the Canadian border, this four-bedroom home has an area of 2,000 square feet, leaving plenty of room for your family to grow. Although the town of Ashland is small, the public schools score highly – 8 out of 10 Great Schools and a total of only nine pupils per teacher, according to Best Places in Sperling. You might want to replace the carpet and wallpaper, Gunther suggests, but you’ll have plenty of room to work on projects in your glass porch or attached garage. On the downside, expect heavy snowfall, but on the plus side, you’ll be able to get yourself a snowmobile.
If you want to live the Coachella life: a one-bedroom cabin in Twentynine Palms, California $144,999
It turns out that California real estate can be quite affordable, as long as you don’t mind living in a one-bedroom, 246-square-foot with off-grid solar panels and a propane tank for water heating. Located in the Mojave Desert just a short drive from Joshua Tree National Park, this charming log cabin offers sweeping views of the desert as well as a charming enclosed outdoor shower. “When you’re not using it, it can be a money-making vacation rental,” says Gunter, who notes that the cabin is more than fifty miles northeast of Palm Springs. Be prepared for average temperatures in the high 90s in the summer, which can make the cabin feel a bit stifled.