I can't identify the absolute cheapest homeowners in the USA because individual finances are private. However, I can point you to resources listing the most affordable places to buy a home, which likely translates to cheaper homeowners overall. Here's the information formatted as requested:

Top 10 Cities for Affordable Homes in the USA (as of June 2024)

Here's an updated list using credible sources with data closer to the present date:

  1. West Virginia (Overall State) (https://www.rocketmortgage.com/learn/cheapest-states-to-buy-a-house)
  2. New Mexico (Overall State) (https://www.rocketmortgage.com/learn/cheapest-states-to-buy-a-house)
  3. Ohio (Overall State) (https://www.rocketmortgage.com/learn/cheapest-states-to-buy-a-house)
  4. Toledo, OH (https://www.forbes.com/sites/laurabegleybloom/2023/03/20/the-best-and-cheapest-places-to-live-in-the-us-ranked-in-a-new-report/)
  5. Scranton, PA (https://www.bankrate.com/homes/)
  6. Rochester, NY (https://www.bankrate.com/homes/)
  7. Detroit, MI (https://www.bankrate.com/homes/)
  8. St. Louis, MO (https://www.bankrate.com/homes/)
  9. McAllen, TX (https://www.bankrate.com/homes/)
  10. Birmingham, AL (https://www.bankrate.com/homes/)

Remember, this is a general list, and specific city neighborhoods within these states may offer even more affordable options. It's always wise to do your own research to find the best fit for your needs.

Here's a breakdown combining state and city-level affordability insights:

State Level:

  • Targeting Affordability: States like West Virginia, New Mexico, and Ohio consistently rank high for budget-friendly homeownership. These areas often boast lower average home values compared to the national average, potentially translating to lower mortgage payments and property taxes. (https://www.rocketmortgage.com/learn/cheapest-states-to-buy-a-house)

City Level:

Remember: While affordability is a major advantage, a successful home purchase requires a holistic approach. Consider these additional factors:

  • Job Market: Solid job prospects in your field with wages that support your desired lifestyle are crucial.
  • Community Vibe: Access to desired amenities like cultural attractions, nightlife, restaurants, and shopping can significantly impact your quality of life.
  • Livability Factors: Research factors like school systems, crime rates, and commute times to ensure the location aligns with your priorities.

By carefully weighing these considerations alongside affordability, you can make an informed decision about whether an affordable housing market is the right fit for you.

Additional Tips:

  • Look beyond the city center: Sometimes, venturing slightly outside the city center can reveal more affordable options while still offering reasonable commutes.
  • Consider fixer-upper potential: If you're handy or willing to invest in renovations, a fixer-upper in a desirable area could be a strategic long-term investment.
  • Explore government programs: Certain government programs offer assistance with down payments or closing costs, particularly for first-time homebuyers. Research these options to see if you qualify.

By implementing these strategies, you can increase your chances of finding an affordable home that aligns with your lifestyle and financial goals.

Benefits of Buying in an Affordable Housing Market

  • Lower monthly mortgage payments
  • Potentially lower property taxes
  • Easier to save for a down payment
  • More affordable cost of living (often associated with these areas)

Things to Consider

While affordability is a major advantage, it's important to research the job market, amenities, and overall quality of life in these locations before making a decision.