Affordable housing can be difficult to come by. In the past decade alone, the number of homes for purchase under $200,000 went from half of all sales to 21% of all home sales, according to a recent report from Realtor.com. At the same time, the national median listing price on homes has increased nearly 40% since 2019.

For the roughly two-thirds of Americans who do own homes, location is a major determinate of their home's value. Shopping for a new home on a constrained budget may limit prospective buyers to certain areas in the U.S. The good news is the inventory of smaller and more affordable homes has grown in share, Realtor.com found.

Hannah Jones, a senior economic analyst at Realtor.com said in the report, “With lower living costs and increasing inventory, cities like Albany (Georgia) provide great value for homebuyers." She continued, “The South is seeing a big increase in affordable inventory.”

The upper-Midwest region is another area that has consistent affordable options for prospective homebuyers.

These cities have the largest concentration of affordable homes in the nation:

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These cities have the most homes under 200K

Realtor.com collected data on cities that had at least 100 total listings available in early June. They compared the total number of listings in the area with the total number of listings priced $200,000 or less.

By volume, Detroit, Michigan had the most number of listings under $200,000 available, with 1,586 homes for sale or 64% of all listings, no matter the price. Cleveland, Ohio followed in total volume of affordable listings.

Two suburbs of Fort Lauderdale, Florida had the highest concentration of affordable homes for sale. In Lauderdale Lakes, 85% of homes for sale were listed for less than $200,000. Lauderhill, Florida - a neighboring suburb - had the second largest concentration of affordable homes in the U.S.

In Lauderdale Lakes, the median home price is $149,000, far below the national median listing price of $442,500, according to Realtor.com.

“Areas that were once popular for downsizing are now out of reach for many,” Jones said to Realtor.com. “Florida markets like Lauderdale Lakes are seeing a surge in affordable condos, providing viable options for those looking to downsize without breaking the bank."

Affordable home options have declined in past decade

The number of affordable home listings has consistently declined between 2013 and 2023. At the beginning of the decade, about half of all listings were below $200,000. Last year, less than a quarter of all home listings were worth $200,000 or less.

Map:How does 'the least affordable housing market in recent memory' look in your area?

See how much homes are valued in your county

Home ownership is a major financial asset to many households and knowing the worth of a home can help families decide to buy or sell.

County level data of housing statistics from the the American Community Survey shows how much homes are valued at across the country. See the median value of homes in each U.S. county: