5 Southern Cities Where You Can Buy a Home for Under $100K

Housing may be near record levels of unaffordability on a nationwide basis, but the solution to that problem may involve simply moving to the South. This is not to say that cost of living and real estate prices haven’t skyrocketed everywhere, but if you know where to look, you could still stake your claim on some affordable property.

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Memphis, Tennessee New Orleans, Louisiana Baltimore, Maryland Baton Rouge, Louisiana Lubbock, Texas

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GOBankingRates recently conducted research to determine what five major cities in the South have multiple active home listings under $100,000, making them extraordinarily affordable in the current market. Generally speaking, the overall cost of living is also low in these cities, and many have high livability scores, meaning they provide a good quality of life for their residents.

Here’s a look at the five Southern cities where you can buy a home for under $100,000.

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Memphis, Tennessee

Total active listings: 3,006
Active listings under $100,000: 757
Percentage of listings under $100,000: 25.2%

The birthplace of rock n’ roll and the home of the blues, Memphis has plenty to offer any musicphile. However, it also has over 700 active listings of homes selling for under $100,000 — nearly one-quarter of all listings — meaning its housing market is extremely affordable.

Though the average home value is closer to $141,300, knowing you can still buy a house for under six figures is a huge boon for new homebuyers. GOBankingRates also found that the average monthly mortgage payment comes in under $1,000 at around $842.

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New Orleans, Louisiana

Total active listings: 3,761
Active listings under $100,000: 708
Percentage of listings under $100,000: 18.8%

If you’re looking to spice up your living situation why not consider the birthplace of jazz? The Big Easy is known for its active nightlife, vibrant live-music scene and zesty, singular cuisine reflecting its history as a melting pot of French, African and Indigenous cultures.

Pockets of New Orleans can be expensive for both real estate and cost of living. In fact, GOBankingRates found that the average monthly cost of living comes in around $3,520. However, if you know where to look you can still find affordable housing and a less expensive lifestyle.

Baltimore, Maryland

Total active listings: 3,690
Active listings under $100,000: 626
Percentage of listings under $100,000: 17%

Baltimore is historically steeped in all things Americana. Not only is it the birthplace of the American Railroad and the “The Star Spangled Banner,” but also of the first six-pack. Residents of this city have a median income of about $59,623 and can expect to pay about $1,078 in monthly mortgage payments.

Baton Rouge, Louisiana

Total active listings: 2,391
Active listings under $100,000: 348
Percentage of listings under $100,000: 14.6%

More than 300 active listings in Baton Rouge are under $100,000, where the average home value is about $227,162. As the capital of Louisiana, this southern city is rich in history and a good mix of cultural roots and modern amenities. Residents have an estimated annual cost of living of about $41,697 as reported by GOBankingRates.

Lubbock, Texas

Total active listings: 2,723
Active listings under $100,000: 349
Percentage of listings under $100,000: 12.8%

With more music venues per capita than any other city in Texas, Lubbock is a sneakily vibrant and affordable city to make a home purchase. Known as Hub City because it is the economic, educational and health-care center of the South Plains region, don’t overlook Lubbock when considering southern cities to move to. The average monthly mortgage payment is estimated to be around $1,193 and the average cost of living is about $3,113 a month.

Methodology: For this study, GOBankingRates analyzed the top 100 US cities by size according to Zillow Home Value Index. After the largest 100 cities were identified, the total listings and listings under $100,000 were found from Realtor.com. Using both listings the percentage of homes under $100k was calculated for each city. Other factors were also found including; total population, population ages 65 and over, total households, and household median income all sourced from the US Census American Community Survey. Using this data the percentage of the population ages 65 and over can be calculated. The cost-of-living indexes were sourced from Sperlings BestPlaces and include the grocery, healthcare, housing, utilities, transportation, and miscellaneous cost of living indexes. Using the cost-of-living indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location can be calculated. The average single-family home value was sourced from Zillow Home Value Index for December 2024. Using the average single-family home value, assuming a 10% downpayment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The cities were sorted by the highest percentage of home listings under $100k. All data was collected on and is up to date as of Feb. 14, 2025.

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