20 Affordable, Promising Cities to Buy Real Estate in 2024
In order to compile this list of the 20 affordable, promising cities to buy real estate in 2024, the year-over-year price growth in home value from 2023 to 2024 and the average home value in the city was looked at. Cities that experienced positive price growth and had average home values below the median home value in the US were shortlisted. Please note that the median home value in the US is $354,179, as of March. Data for both metrics has been sourced from Zillow.
The 20 affordable, promising cities to buy real estate in 2024 are ranked in ascending order of their 1-year price appreciation, primarily, and average home value, secondarily.
20 Affordable, Promising Cities to Buy Real Estate in 2024
20. Fort Wayne
1 Year Price Appreciation: 7.5%
Average Home Value: $231,064
The city of Fort Wayne is based in northeastern Indiana. As of March, home prices in the city have appreciated by 7.5%. The city’s average home value of $231,064 is below the national average.
19. Philadelphia
1 Year Price Appreciation: 7.7%
Average Home Value: $349,795
Philadelphia is an attractive market for purchasing real estate in 2024. As reported by Zillow, home prices have experienced a growth of 7.7% since 2023.
18. Green Bay
1 Year Price Appreciation: 7.7%
Average Home Value: $292,367
Green Bay is located in the state of Wisconsin. The city’s current average home value of $292,367 is affordable. Furthermore, the city is a promising real estate market since home values have also been witnessing positive changes over the past year.
17. Reading
1 Year Price Appreciation: 7.9%
Average Home Value: $276,304
Home values have been appreciating in the city of Reading. The city is situated in the southeastern part of Pennsylvania and offers an average home value of $276,304, as of March. This makes Reading a good city for buying real estate in 2024.
16. Flint
1 Year Price Appreciation: 8.0%
Average Home Value: $172,739
Flint is in Genesee County, Michigan. The city boasts an average home value of $172,739. Simultaneously, Flint's home prices have grown since 2023.
15. Allentown
1 Year Price Appreciation: 8.1%
Average Home Value: $320,148
The 1-year growth in Allentown’s average home value was recorded at 8.1% in March. Additionally, the current average home value in the city is lower than the national average.
14. Erie
1 Year Price Appreciation: 8.2%
Average Home Value: $186,042
The 20 affordable, promising cities to buy real estate in 2024 rank Erie as well. The city is located in Pennsylvania and has witnessed a modest positive change in its home values over the past 1 year.
13. Peoria
1 Year Price Appreciation: 8.2%
Average Home Value: $141,917
Illinois hosts the US city of Peoria. Those who wish to buy real estate in a cheap yet attractive housing market in 2024 can resort to the city.
12. Canton
1 Year Price Appreciation: 8.5%
Average Home Value: $191,088
The Ohio-based city of Canton experienced an appreciation of 8.5% in its home prices between 2023 and 2024. As of now, $191,088 is the average home value in the city which is quite affordable.
11. Toledo
1 Year Price Appreciation: 8.6%
Average Home Value: $178,470
Toledo is situated in Lucas County, Ohio. The city is one of the most affordable and promising real estate markets since the home prices have appreciated by 8.6% since 2023 while the average home value is as low as $178,470.
10. Savannah
1 Year Price Appreciation: 9.3%
Average Home Value: $329,917
Savannah is a populous city located in the state of Georgia. Between 2023 and 2024, home prices in the city have grown by 9.3% which deems the market attractive for real estate investment.
9. Rochester
1 Year Price Appreciation: 9.4%
Average Home Value: $235,073
Rochester is another city in New York that can be pursued as an attractive and affordable city to buy real estate in 2024. According to Zillow, the year-over-year appreciation in the city’s home prices has been 9.4%.
8. Binghamton
1 Year Price Appreciation: 9.5%
Average Home Value: $167,385
The city of Binghamton is a part of New York. As of March, the city boasts an average home value of $167,385 which is cheap. 1 year home price appreciation in Binghamton was recorded at 9.5% in March.
7. Atlantic City
1 Year Price Appreciation: 9.9%
Average Home Value: $340,093
Atlantic City is based in New Jersey. While the average home price in the city is $340,093, home prices have grown over the past year which indicates an attractive market for real estate investment.
6. Knoxville
1 Year Price Appreciation: 10.1%
Average Home Value: $333,234
Knoxville is situated in Knox County, Tennessee. Between 2023 and 2024, home prices in the city have appreciated by 10.1%. The city’s average home price is below the national average which makes its real estate affordable yet promising.
5. Kingsport
1 Year Price Appreciation: 11.1%
Average Home Value: $221,217
As of March, the year-over-year appreciation in Kingsport’s home prices is 11.1%. The city offers an average home value of $221,217.
4. New Haven
1 Year Price Appreciation: 11.2%
Average Home Value: $351,560
The city of New Haven is based in New Haven County, Connecticut. Average home value in the city is cheap while home prices have appreciated since 2023.
3. Syracuse
1 Year Price Appreciation: 11.2%
Average Home Value: $214,358
Syracuse ranks among the most affordable and promising cities for investing in real estate. As of March, an 11.2% appreciation in the city’s home prices has been witnessed.
2. Rockford
1 Year Price Appreciation: 11.8%
Average Home Value: $180,258
Rockford is another city where prices have grown by 11.8% between 2023 and 2024. Furthermore, the average home value in the city is currently $180,258.
1. Hartford
1 Year Price Appreciation: 12.5%
Average Home Value: $343,635
Hartford ranks at the top of the 20 affordable, promising cities to buy real estate in 2024. As of March, the average home value in the city is as low as $343,635 and the home prices have appreciated by 12.5% over the past year.