Here’s where you can buy a home for less than $200,000 in California
June 20, 2023It’s hard to find a reasonably priced house in California, especially in big metropolitan areas like Los Angeles and San Francisco.
For those flexible on location, a new study from Go Banking Rates revealed where prospective home buyers could get a home for less than $200,000 in various cities nationwide.
Paynes Creek, located in Tehama County, is where prospective home buyers can get an affordable home in California.
Researchers found that homes in the area were listed for less than $100,000, according to Redfin.
Homes in the area are typically worth more than $142,000, researchers found.
The cheap home prices are mainly due to the city’s remote location near the Sierra Nevada Mountain range. The closest city is Red Bluff, which is about 23 miles away.
For those who don’t want to live so far away from the big city, researchers also found other cities where a $200,000 budget can get prospective buyers a home.
Cities where prospective buyers can get a home for less than $200,000
- Birmingham, Alabama
- Winslow, Arizona
- Cleveland, Ohio
- Detroit, Michigan
- Pacific Junction, Iowa
- Akron, Ohio
- Rochester, New York
- Kimmell, Indiana
- Baltimore, Maryland
For prospective buyers looking to find affordable home prices in California’s big cities, many homes sold below the asking price in January, primarily in the Bay Area.
A March study from Redfin found that the rate of people looking to leave San Francisco has started to slow as home prices in the Bay Area dip.
Experts say the dramatic year-over-year price drops and fizzling competition seen in the Bay Area may not hit the rest of the state the same way.