This is the Least Expensive Housing Market in Indiana

Homeownership was once a cornerstone of the American dream. But for a growing share of the population, it is now more akin to a pipe dream. Within the last two years, real incomes have been crushed under the weight of historic inflation. At the same time, the Federal Reserve’s interest rate hikes have sent mortgage rates soaring.

With reduced buying power and increased borrowing costs, consumer interest in the real estate market has cooled. The number of existing home sales in the U.S. declined by 23% from April 2022 to April 2023, according to the National Association of Realtors. But while demand from home buyers has fallen, home prices have not. (These are the states with the worst housing shortages for low income Americans.)

According to the real estate market website Realtor.com, the median list price for a home in the United States was $441,445 in May 2023 – 2.7% higher than it was a year earlier. But while such prices are prohibitively high for most Americans, there are parts of the country where homes are selling for far less and where homeownership is still possible for those on a modest budget.

Of the 89 counties in Indiana with available data from Realtor.com and at least 10 homes actively listed, Sullivan County has the least expensive housing market. As of May 2023, the median list price in the area was $88,700, compared to the statewide median list price of $306,475.

All data in this story is from Realtor.com.

State County or county equivalent with cheapest housing market Median list price in county/county equivalent ($) Median list price in state ($) Counties/county equivalents considered

Alabama Dallas 70,500 336,750 63

Alaska Hoonah-Angoon 219,975 415,400 12

Arizona Graham 323,500 500,000 14

Arkansas Jackson 79,425 291,075 66

California Alpine 41,175 774,500 57

Colorado Crowley 164,900 649,450 57

Connecticut Hartford 386,950 579,900 8

Delaware Kent 417,225 499,997 3

Florida Hamilton 232,000 475,000 66

Georgia Terrell 96,175 400,000 131

Hawaii Hawaii 617,944 850,000 4

Idaho Butte 256,250 589,500 43

Illinois Greene 51,350 321,150 85

Indiana Sullivan 88,700 306,475 89

Iowa Page 112,500 319,950 91

Kansas Cloud 69,425

321,632 63

Kentucky Letcher 103,000 307,364 105

Louisiana Evangeline 113,875 289,950 60

Maine Aroostook 189,000 439,475 16

Maryland Allegany 122,350 426,780 24

Massachusetts Hampden 344,175 799,000 14

Michigan Iron 115,600 292,450 82

Minnesota Faribault 119,725 409,950 82

Mississippi Humphreys 79,000 284,000 68

Missouri Knox 62,363 301,350 105

Montana Phillips 160,375 675,000 39

Nebraska Furnas 134,900 372,513 43

Nevada Mineral 180,000 469,750 14

New Hampshire Coos 261,975 549,950 10

New Jersey Cumberland 254,975 544,500 21

New Mexico Cibola 156,875 382,475 28

New York Livingston 124,900 654,475 62

North Carolina Northampton 134,950 425,000 99

North Dakota Pierce 139,500 349,350 23

Ohio Jefferson 99,850 257,500 87

Oklahoma Woods 85,125 319,950 66

Oregon Harney 295,000 579,925 33

Pennsylvania Cambria 85,500 299,000 66

Rhode Island Providence 409,900 537,000 5

South Carolina Marlboro 143,440 360,995 45

South Dakota Perkins 98,000 372,375 27

Tennessee Lake 112,400 449,995 95

Texas Hall 86,499 389,950 210

Utah Emery 305,000 629,900 26

Vermont Essex 235,950 454,500 14

Virginia Buchanan 64,725 456,062 122

Washington Adams 378,725 650,000 37

West Virginia Mcdowell 59,175 239,495 47

Wisconsin Florence 194,925 375,000 70

Wyoming Washakie 218,750 477,500 22