These are the cheapest cities to buy a home in Missouri and Illinois

Joey Schneider
·2 min read

(KTVI) – In a time where high interest rates and heavy demand have shaped the housing market, the process of buying a home has become quite expensive.

Some people have taken a unique path to combat such challenges, moving to cities that are generally low in housing costs to get more bang for the buck.

A new report from 24/7 Wall St. dug deep into this trend and also determined the cheapest city to buy a home in every US state. In some cases, you might still be able to find homes for less than six figures.

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For Missouri and Illinois, the two states of the St. Louis metro, you’ll have to venture out a bit and settle for a home in a somewhat smaller community to find the cheapest homes.

What are the “cheapest cities” for home in Missouri and Illinois? Here’s what the research team at 24/7 Wall St. found out…

Missouri

Cheapest City: Kennett, Missouri (Dunklin County)
Median listed home price: $102,000

Perhaps one of the biggest incorporated cities in Missouri’s bootheel, Kennett is well known for its agriculture and sits close to the Mississippi River. As of 2020, it had a population of around 10,000 people.

Data reveals that Kennett’s median listed home prices are around one-third the median mark for Missouri. Kennett’s home prices, however, have increased more than 27% over the past year and are around 300 square feet smaller than the average Missouri home.

Kennett is approximately 3 hours and 200 miles south of St. Louis.

Illinois

Cheapest City: Macomb, Illinois (McDonough County)
Median listed home price: $69,900

Home to Western Illinois University, Macomb also carries some interesting connections to US war and presidential history. It’s among the largest incorporated cities in the true western portion of the state. As of 2020, it had a population of around 15,000 people.

Data reveals that Macomb’s median listed home prices are around one-quarter the median mark for Illinois. Macomb’s home prices, however, have increased more than 25% over the past year and are around 400 square feet smaller than the average Illinois home.

Macomb is approximately 3 hours and 160 miles north of St. Louis.

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