About this video

• Video Title: 25 U.S Towns Where Home Prices Are So Low… You’ll Think It’s a Scam
• Channel: MrState
• Speakers: [Not specified in transcript]
• Duration: 00:57:32

Overview

This video explores 25 towns across the United States where housing prices are remarkably low. It highlights the appeal of these affordable locations while also revealing the potential downsides and "twists" that come with such low prices, such as higher crime rates, limited job markets, or unique local challenges. The goal is to inform viewers about these opportunities and the realities of living in them.

Key takeaways

• Extreme Affordability: Several towns listed offer homes for under $100,000, and in some cases, significantly less, making homeownership accessible for many.
• The "Catch": Low prices often come with trade-offs, including higher crime rates, economic stagnation, less desirable amenities, or unique environmental factors.
• Regional Diversity: The list spans various regions of the U.S., from Texas and Georgia in the South to Michigan and Pennsylvania in the Midwest and Northeast, showcasing different economic and social landscapes.
• Local Character: Each town possesses a distinct character, with specific quirks, industries, and community vibes that define the living experience beyond just the price tag.
• Suburban vs. Urban: The video contrasts the affordability of some smaller towns and suburbs with the often prohibitive costs of major metropolitan areas.

Here are the locations mentioned in the video with their associated details:

• Harlingen, Texas:
  • Median home price: Around $136,000
  • Pros: Low cost of living, no state income tax, low property taxes.
  • Cons: Higher than average crime (theft and car break-ins), job market not booming, unemployment above national average, intense summer heat.
• Weirton, West Virginia:
  • Median home price: Around $112,000
  • Pros: Nostalgic blue-collar charm, quiet, safe, historically significant.
  • Cons: Economy hit hard by the decline of steel industry, declining population, limited job growth, low wages, slow internet.
• Decatur, Illinois:
  • Median home price: Around $93,000
  • Pros: Low cost of living (26% below national average), low rent (below $800).
  • Cons: Industrial odor, high violent crime rate (54% higher than US average), job market focused on manufacturing and agriculture, not ideal for remote work.
• Enid, Oklahoma:
  • Median home price: Around $128,000
  • Pros: Low cost of living (17% below national average), affordable rent (around $750 for a two-bedroom), calm, peaceful.
  • Cons: Limited job market (aviation, government), high unemployment (above 4.5%), excitement on back order, very windy.
• Bay City, Michigan:
  • Median home price: Around $93,000
  • Pros: Waterfront town, low cost of living (24% below national average), affordable rent ($700-800).
  • Cons: Modest job market (manufacturing, schools, healthcare), crime rate higher than expected (safer than only 17% of US cities), unpredictable Michigan weather.
• Mission, Texas:
  • Median home price: Around $98,000
  • Pros: Affordable rent ($750 or less for a two-bedroom with AC), year-round sun, laid-back, vibrant culture, good healthcare.
  • Cons: Extremely hot summers (triple-digit temperatures), job market focused on agriculture, healthcare, and retail, mosquitoes, fire ants.
• Eagle Pass, Texas:
  • Median home price: Around $89,000
  • Pros: Affordable rent ($650-750 for a two-bedroom), safe (safer than 60% of US cities its size), colorful border culture.
  • Cons: Extreme heat (100°+), perception of danger due to border location, drivers can be aggressive.
• Springfield, Illinois:
  • Median home price: Around $108,000
  • Pros: Affordable, rich in history (Lincoln sites), government, education, and healthcare jobs.
  • Cons: High violent crime rate (double the national average), property crime, chaotic weather patterns.
• Warren, Michigan:
  • Median home price: Around $99,000
  • Pros: Affordable, close to Detroit, jobs in trades and manufacturing, large backyards.
  • Cons: High crime rate (47% higher than national average for violent crime), harsh winters, rough roads (potholes).
• Flint, Michigan:
  • Median home price: Around $69,000
  • Pros: Extremely affordable housing, some areas undergoing redevelopment with arts and culture emerging.
  • Cons: Infamous water crisis, very high violent crime rate (four times the national average), high property crime rate, outdated infrastructure.
• Toledo, Ohio:
  • Median home price: Around $115,000
  • Pros: Affordable housing, nationally ranked zoo, good food scene, lower cost of living (22% below national average).
  • Cons: High crime rates (violent crime twice national average), some neighborhoods rough, unpredictable weather.
• Scranton, Pennsylvania:
  • Median home price: Just under $110,000
  • Pros: Affordable housing, friendly locals, low-key food scene, historic charm.
  • Cons: Rough road conditions (potholes), inconsistent development, weather extremes, crime (petty theft, property crimes).
• Rochester, New York:
  • Median home price: Around $107,000
  • Pros: Affordable housing, top-rated colleges, strong healthcare sector, good food scene, lower cost of living (20-25% below national average).
  • Cons: High crime rates in some areas (double national average), harsh winters with heavy snowfall, seasonal depression, expensive coffee.
• St. Louis, Missouri:
  • Median home price: Around $110,000
  • Pros: Very affordable housing in major metro, good job market (healthcare, education, aerospace), beautiful architecture.
  • Cons: Extremely high violent crime rate (420% higher in some neighborhoods), stark neighborhood contrasts, theft of property.
• Detroit, Michigan:
  • Median home price: Around $66,000 (some homes for $1)
  • Pros: Extremely low housing costs, significant investment in tech and real estate downtown, vibrant art scene.
  • Cons: Very high crime rates, rough roads, requires resilience and grit, some areas still struggling significantly.
• Pittsburgh, Pennsylvania:
  • Median home price: Around $175,000
  • Pros: Affordable housing for a growing tech city, lower cost of living (10% below national average), major sports teams, parks, universities.
  • Cons: Confusing street grid, hilly terrain, unpredictable weather (fog, rain, snow), moderate crime that varies by neighborhood.
• Memphis, Tennessee:
  • Median home price: Around $118,000
  • Pros: Affordable housing, rich music and food scene, lower cost of living (17% below national average).
  • Cons: High crime rates, humid summers, drivers can be aggressive.
• McAllen, Texas:
  • Median home price: Around $98,000
  • Pros: Affordable housing and rent, peaceful, good healthcare infrastructure, high walkability.
  • Cons: Extreme heat and humidity, mosquitoes, economy described as "stableish".
• Waycross, Georgia:
  • Median home price: Around $85,000
  • Pros: Very affordable housing and rent, peaceful, slow-paced.
  • Cons: Limited job market, high humidity, bugs (mosquitoes, alligators), downtown area has vacant properties.
• Hermitage, Pennsylvania:
  • Median home price: Just under $90,000
  • Pros: Affordable housing and low cost of living, safe, quiet, friendly neighbors.
  • Cons: Very slow pace of life, limited amenities, harsh winters with heavy snowfall, limited late-night options.
• Platte City, Missouri:
  • Median home price: $130,000 - $160,000
  • Pros: Affordable homes, family-friendly environment with good schools and parks, close proximity to Kansas City.
  • Cons: Very slow pace of life, limited social/nightlife options, requires driving for most amenities, rough roads.
• Atchison Village, California:
  • Median unit price: Around $250,000 (HOA fees apply)
  • Pros: Significantly more affordable than the rest of the Bay Area, co-op living model.
  • Cons: You buy into a cooperative, not own property outright; surrounding Richmond has high crime rates; strict co-op rules.
• Yankton, South Dakota:
  • Median home price: Around $220,000
  • Pros: Affordable housing, low crime rate, peaceful, quiet river town.
  • Cons: Extreme seasons, limited amenities (no Trader Joe's), younger residents tend to move away for more opportunities, limited nightlife, lack of anonymity.
• Price, Utah:
  • Median home price: Around $200,000
  • Pros: Affordable housing and low cost of living, low unemployment, safe.
  • Cons: Limited job market (forklifts, fossils), spotty internet, non-existent nightlife, requires tolerance for slow pace and conservative culture.
• Detroit, Michigan (revisited):
  • Median home price: Around $66,000 (with some homes for $1)
  • Pros: Extremely low housing costs, growing downtown with tech and arts, opportunity for investment.
  • Cons: High crime rates persist, rough roads, requires resilience, significant disparities between revitalized and struggling areas.

The video mentions that in Detroit, you can literally buy a house for one dollar. This isn't a metaphor; it refers to a program where the city, looking to revitalize blighted areas, sells dilapidated or abandoned homes for a nominal fee of $1.

However, the video stresses that this comes with significant "catches" and is not a simple bargain:

• Condition: These $1 homes are typically in severe disrepair. They are often vacant for years and require extensive, costly renovations.
• Renovation Commitment: Buyers who purchase these homes usually have to commit to a strict renovation timeline and budget. They need to demonstrate the ability to fix up the property.
• Location: The most affordable homes, especially the $1 properties, are often in neighborhoods that are still struggling with high crime rates and lack of amenities.
• "King in Exile" Analogy: The video uses the analogy of being a "king in exile" or a "landlord with no tenants" to describe the situation – you might own a structure, but living in it comfortably and safely requires a substantial investment and effort.
• Survival Rate: The video explicitly states that the "survival rate" (implying financial and personal well-being) depends heavily on the zip code you choose.

In essence, the $1 homes are an extreme example of Detroit's low housing costs, offering a potential entry point for those willing to take on a major renovation project in areas that are still in the process of recovery. It's more about the opportunity to acquire land and structure cheaply for a dedicated investor or renovator rather than a move-in ready bargain.