Finding an affordable home is a daunting challenge.

Real estate prices surged during the COVID-19 pandemic and haven't returned to normal. Average home values are almost 50% higher than four years ago. Interest rates, which further impact monthly mortgage prices, compound the high prices.

The nation is facing a housing affordability crisis. The proportion of homes priced under $200,000 dropped from about half of all sales to less than a quarter in 2023.

But there are still places where it's possible to find a house for $200,000 or less. With mortgage rates hovering around 7%, if you put 20% down on a $200,000 home, your monthly payment would be about $1,500 — less than the national median rent of $1,732, according to Realtor.com.

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Realtor.com searched its listing data to determine where in the U.S. you're most likely to find a house priced below $200,000 — and two Fort Lauderdale, Florida, suburbs topped the list.

In Lauderdale Lakes, Florida, 17 out of every 20 homes are listed for under $200,000, with a median price of $149,000. Lauderhill came in second with a median home price of $175,000.

Both towns are popular retirement destinations that are more affordable than other cities in Florida.

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

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While the South has a fair number of houses listed for $200,000 or less, cities in the Upper Midwest have more. Detroit, for example, has 1,586 listings under $200,000, with a median price of $90,000. Lansing, Michigan's 133 listings under $200,000 account for 64% of homes on the market.

Ohio also has plenty of options for less than $200,000. The 214 homes listed for less than $200,000 in Akron account for 70% of the listings in the city, and the median price is $138,600. Cleveland's 512 listings under $200,000 account for 61% of the city's listings, and the median price is $135,475.

But the affordable prices may not last for long, with Detroit prices up 10% compared to a year ago and Cleveland prices up by more than 20%.

"These are still some of the most affordable places in the country, but they've seen a lot of price growth over the last year or so," Jones said.

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