(MoneyWatch) In which borough will you find the cheapest real estate in New York City? Can you buy a home for less than half a million in San Francisco? Can you land a home on the Las Vegas strip for five figures? You can find all these things, if you know where to look. Even the biggest, most expensive cities in the country have pockets of affordable real estate where home prices are half (or sometimes less) the median price of the city as a whole.
In order to determine the cheapest neighborhoods to buy a home, we gathered data from real estate firm Zillow, and looked at the lowest median home prices of neighborhoods in the 20 most populous cities in the country.
The neighborhoods on this list are cheaper than others in their city for a number of reasons. Sometimes the average home size is smaller; some places have a lot more condos than single-family homes; some places are still dealing with a huge number of foreclosures and haven't recovered from the housing crisis yet, while other places have long histories of unemployment and crime.
In order to determine the cheapest neighborhoods to buy a home, we gathered data from real estate firm Zillow, and looked at the lowest median home prices of neighborhoods in the 20 most populous cities in the country.
The neighborhoods on this list are cheaper than others in their city for a number of reasons. Sometimes the average home size is smaller; some places have a lot more condos than single-family homes; some places are still dealing with a huge number of foreclosures and haven't recovered from the housing crisis yet, while other places have long histories of unemployment and crime.
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