House prices are one of the most important economic indicators of a country’s prosperity. Because owning your own home is often seen as a life goal, it serves as a gauge for how well off people perceive themselves to be. In addition, the housing market comprises a major portion of any country’s economy: Not only is it essential to driving the demand of building materials and construction companies, but it also helps fuel home improvement stores and appliance manufacturers, among other types of companies.
Coldwell Banker recently completed its survey of house prices, looking at more than 1,900 different locations in the United States. The company found that the average price of a four-bedroom, two-bathroom home in the U.S. was just more than $300,000. Keep in mind, however, that since some homes are far more expensive, the median price is likely to be considerably lower.
The company also uncovered trends in house pricing that have to deal with regional variance. California appears to be the most opulent state in the union, holding all of the top five locations as well as the majority of the top 25. Meanwhile, the Midwest was the cheapest region overall, laying claim to more than half of the 25 least expensive markets. Let’s take a closer look at some of those least expensive communities. Here’s a list of the 10 cheapest cities in the U.S. where you can purchase a home, according to Coldwell Banker’s data.