Houses in These Cities Are Suddenly Major Bargains

Laura Woods
·9 min read
ucpage / Getty Images/iStockphoto
ucpage / Getty Images/iStockphoto

The COVID-19 pandemic has caused a real estate surge in many parts of the U.S., creating a strong seller’s market. Record low mortgage rates, combined with a sharp decline in inventory, sent listing prices up 17% from January to September 2020, according to Realtor.com.

Read: Americans’ Savings Drop to Lowest Point in Years

While this is great news for sellers, it can be discouraging for buyers looking to put down roots. However, there are still plenty of cities where homes can be purchased at affordable prices.

See: Surprising Ways Gen X and Millennials Are Worlds Apart Financially

GOBankingRates conducted a study to find out which cities have the biggest bargains on houses. Single-family residences in those that made the list were valued above the national average of $247,282 in March 2020, but fell below the national average of $265,109 in December 2020 — as well as below the average for their state.

If you’re interested in buying a house, but don’t want to pay a premium, this could be a strategic way to find your dream home. Here’s a look at the 15 largest cities to make the list.

Last updated: Feb. 22, 2021

Colville, Washington

  • March 31, 2020, Single Family Residence Home Value: $254,253

  • Dec. 31, 2020, Single Family Residence Home Value: $262,110

  • March to Dec. Growth in Home Value: $7,857

  • March to Dec. Growth in Home Value (%): 3.09%

  • State Average SFR Home Value December 2020: $471,133

  • State Average Growth in Home Value March to Dec.: $42,779

  • State Average Growth in Home Value March to Dec (%): 9.99%

  • Difference in Dec. Home Value vs. State Average: $209,023

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Knik-Fairview, Alaska

  • March 31, 2020, Single Family Residence Home Value: $259,476

  • Dec. 31, 2020, Single Family Residence Home Value: $258,994

  • March to Dec. Growth in Home Value: -$482

  • March to Dec. Growth in Home Value (%): -0.19%

  • State Average SFR Home Value December 2020: $312,877

  • State Average Growth in Home Value March to Dec.: $5,522

  • State Average Growth in Home Value March to Dec (%): 1.80%

  • Difference in Dec. Home Value vs. State Average: $53,883

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Lander, Wy.
Lander, Wy.

Lander, Wyoming

  • March 31, 2020, Single Family Residence Home Value: $252,794

  • Dec. 31, 2020, Single Family Residence Home Value: $259,528

  • March to Dec. Growth in Home Value: $6,734

  • March to Dec. Growth in Home Value (%): 2.66%

  • State Average SFR Home Value December 2020: $260,481

  • State Average Growth in Home Value March to Dec.: $6,754

  • State Average Growth in Home Value March to Dec (%): 2.66%

  • Difference in Dec. Home Value vs. State Average: $953

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Winnemucca, Nv. wiki.jpg
Winnemucca, Nv. wiki.jpg

Winnemucca, Nevada

  • March 31, 2020, Single Family Residence Home Value: $249,770

  • Dec. 31, 2020, Single Family Residence Home Value: $251,153

  • March to Dec. Growth in Home Value: $1,383

  • March to Dec. Growth in Home Value (%): 0.55%

  • State Average SFR Home Value December 2020: $341,854

  • State Average Growth in Home Value March to Dec.: $21,434

  • State Average Growth in Home Value March to Dec (%): 6.69%

  • Difference in Dec. Home Value vs. State Average: $90,701

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CORAL SPRINGS, FL, USA: Backyard view of lake and houses.
CORAL SPRINGS, FL, USA: Backyard view of lake and houses.

Wimauma, Florida

  • March 31, 2020, Single Family Residence Home Value: $247,309

  • Dec. 31, 2020, Single Family Residence Home Value: $259,949

  • March to Dec. Growth in Home Value: $12,640

  • March to Dec. Growth in Home Value (%): 5.11%

  • State Average SFR Home Value December 2020: $280,248

  • State Average Growth in Home Value March to Dec.: $17,637

  • State Average Growth in Home Value March to Dec (%): 6.72%

  • Difference in Dec. Home Value vs. State Average: $20,299

More: 20 Insider Tips To Save Money on Every Part of Your Home

Callahan, Florida
Callahan, Florida

Callahan, Florida

  • March 31, 2020, Single Family Residence Home Value: $247,771

  • Dec. 31, 2020, Single Family Residence Home Value: $257,802

  • March to Dec. Growth in Home Value: $10,031

  • March to Dec. Growth in Home Value (%): 4.05%

  • State Average SFR Home Value December 2020: $280,248

  • State Average Growth in Home Value March to Dec.: $17,637

  • State Average Growth in Home Value March to Dec (%): 6.72%

  • Difference in Dec. Home Value vs. State Average: $22,446

See: The Cost To Own a 3-Bedroom Home in Every State

Prineville, Oregon

  • March 31, 2020, Single Family Residence Home Value: $249,934

  • Dec. 31, 2020, Single Family Residence Home Value: $262,523

  • March to Dec. Growth in Home Value: $12,589

  • March to Dec. Growth in Home Value (%): 5.04%

  • State Average SFR Home Value December 2020: $401,060

  • State Average Growth in Home Value March to Dec.: $29,593

  • State Average Growth in Home Value March to Dec (%): 7.97%

  • Difference in Dec. Home Value vs. State Average: $138,537

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Crescent City, California

  • March 31, 2020, Single Family Residence Home Value: $249,070

  • Dec. 31, 2020, Single Family Residence Home Value: $257,737

  • March to Dec. Growth in Home Value: $8,667

  • March to Dec. Growth in Home Value (%): 3.48%

  • State Average SFR Home Value December 2020: $628,535

  • State Average Growth in Home Value March to Dec.: $48,231

  • State Average Growth in Home Value March to Dec (%): 8.31%

  • Difference in Dec. Home Value vs. State Average: $370,798

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The Dalles, Oregon

  • March 31, 2020, Single Family Residence Home Value: $249,284

  • Dec. 31, 2020, Single Family Residence Home Value: $260,497

  • March to Dec. Growth in Home Value: $11,213

  • March to Dec. Growth in Home Value (%): 4.50%

  • State Average SFR Home Value December 2020: $401,060

  • State Average Growth in Home Value March to Dec.: $29,593

  • State Average Growth in Home Value March to Dec (%): 7.97%

  • Difference in Dec. Home Value vs. State Average: $140,563

See: 8 Insider Tips to Get Rich in Real Estate

Fallon, Nevada

  • March 31, 2020, Single Family Residence Home Value: $250,101

  • Dec. 31, 2020, Single Family Residence Home Value: $259,425

  • March to Dec. Growth in Home Value: $9,324

  • March to Dec. Growth in Home Value (%): 3.73%

  • State Average SFR Home Value December 2020: $341,854

  • State Average Growth in Home Value March to Dec.: $21,434

  • State Average Growth in Home Value March to Dec (%): 6.69%

  • Difference in Dec. Home Value vs. State Average: $82,429

Related: 50 Cities Where It’s Cheaper To Buy a Home Than Rent

Gloucester, Va.
Gloucester, Va.

Gloucester, Virginia

  • March 31, 2020, Single Family Residence Home Value: $248,036

  • Dec. 31, 2020, Single Family Residence Home Value: $257,519

  • March to Dec. Growth in Home Value: $9,483

  • March to Dec. Growth in Home Value (%): 3.82%

  • State Average SFR Home Value December 2020: $308,226

  • State Average Growth in Home Value March to Dec.: $17,623

  • State Average Growth in Home Value March to Dec (%): 6.06%

  • Difference in Dec. Home Value vs. State Average: $50,707

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One story house with stone wall trim.
One story house with stone wall trim.

Crystal, Minnesota

  • March 31, 2020, Single Family Residence Home Value: $247,786

  • Dec. 31, 2020, Single Family Residence Home Value: $264,858

  • March to Dec. Growth in Home Value: $17,072

  • March to Dec. Growth in Home Value (%): 6.89%

  • State Average SFR Home Value December 2020: $283,194

  • State Average Growth in Home Value March to Dec.: $16,141

  • State Average Growth in Home Value March to Dec (%): 6.04%

  • Difference in Dec. Home Value vs. State Average: $18,336

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MAR 18, Fairbanks: The beautiful santa claus house on MAR 18, 2015 at Fairbanks.
MAR 18, Fairbanks: The beautiful santa claus house on MAR 18, 2015 at Fairbanks.

North Pole, Alaska

  • March 31, 2020, Single Family Residence Home Value: $252,329

  • Dec. 31, 2020, Single Family Residence Home Value: $263,873

  • March to Dec. Growth in Home Value: $11,544

  • March to Dec. Growth in Home Value (%): 4.57%

  • State Average SFR Home Value December 2020: $312,877

  • State Average Growth in Home Value March to Dec.: $5,522

  • State Average Growth in Home Value March to Dec (%): 1.80%

  • Difference in Dec. Home Value vs. State Average: $49,004

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Tamarac,_FL,_USA_-_panoramio_(66)
Tamarac,_FL,_USA_-_panoramio_(66)

Tamarac, Florida

  • March 31, 2020, Single Family Residence Home Value: $248,366

  • Dec. 31, 2020, Single Family Residence Home Value: $264,742

  • March to Dec. Growth in Home Value: $16,376

  • March to Dec. Growth in Home Value (%): 6.59%

  • State Average SFR Home Value December 2020: $280,248

  • State Average Growth in Home Value March to Dec.: $17,637

  • State Average Growth in Home Value March to Dec (%): 6.72%

  • Difference in Dec. Home Value vs. State Average: $15,506

Read: Best Places To Live On a $50,000 Salary in Every State

Melbourne, Florida

  • March 31, 2020, Single Family Residence Home Value: $248,755

  • Dec. 31, 2020, Single Family Residence Home Value: $264,140

  • March to Dec. Growth in Home Value: $15,385

  • March to Dec. Growth in Home Value (%): 6.18%

  • State Average SFR Home Value December 2020: $280,248

  • State Average Growth in Home Value March to Dec.: $17,637

  • State Average Growth in Home Value March to Dec (%): 6.72%

  • Difference in Dec. Home Value vs. State Average: $16,108

More From GOBankingRates

Methodology: To learn where houses are suddenly a bargain, GOBankingRates first found the (1) March 2020 single family residence (SFR) home value for every U.S. city and the national average, sourced from Zillow. Those cities with SFR home values above the national average in March were moved on to the next factor (2) December 2020 SFR home values. The remaining cities with a December 2020 SFR home value lower than the national average were deemed “suddenly bargains” and moved on to the next set of factors. For inclusion in the top 15, the above criteria had to be met and the December 2020 SFR home value in each city had to be below (3) the state’s December 2020 average home value. The 15 largest cities that met all the criteria laid out above were included in the final ranking. GOBankingRates also found the (4) March to December 2020 growth in SFR home value: (5) percent change in March to December 2020 SFR home value for each city and state as supplemental data. All figures were sourced from Zillow and are up to date as of Jan. 27, 2021.

This article originally appeared on GOBankingRates.com: Houses in These Cities Are Suddenly Major Bargains