10 Affordable Places to Live in the South in 2024

With its southern charm, rich history, vibrant culture, and delicious regional cuisines, the South is truly a special place to call home. The South has plenty to offer with its warm climate, diverse natural areas, and historic sites. From the soulful sounds of Memphis, TN, to the historic charm of Baltimore, MD, there are plenty of one-of-a-kind cities and states to live in. 

If you’re ready to make a move without going over your budget, Redfin has compiled a list of the 10 most affordable places to live in the South. And they all have a median home sale price under $300,000. Let’s jump in and see what city you may just want to move to.

1. Memphis, TN

Median home price: $170,000
Average sale price per square foot: $113
Average rent for a 1-bedroom apartment: $1,075
Median household income: $48,090
Memphis, TN homes for sale
Memphis, TN apartments for rent

First on our list of most affordable places to live in the South is Memphis, TN. As the “Home of the Blues,” this vibrant city is known for its rich musical heritage, including the famous Beale Street. Memphis has a variety of parks, such as Shelby Farms Park, one of the largest urban parks in the US. Additionally, Memphis is home to historic sites like Graceland, the former home of Elvis Presley.

2. Baltimore, MD

Median home price: $200,000
Average sale price per square foot: $142
Average rent for a 1-bedroom apartment: $1,475
Median household income: $58,349
Baltimore, MD homes for sale
Baltimore, MD apartments for rent

A historic city with a rich maritime history, Baltimore, MD, is the second city on our list. Baltimore has about 585,700 residents, and the median home sale price is $200,000. The city is home to popular attractions such as the Inner Harbor, the National Aquarium, and Fort McHenry. You can also enjoy Baltimore’s many parks, including Patterson Park and Druid Hill Park.

3. Baton Rouge, LA

Median home price: $219,950
Average sale price per square foot: $129
Average rent for a 1-bedroom apartment: $1,052
Median household income: $50,155
Baton Rouge, LA homes for sale
Baton Rouge, LA apartments for rent

The capital of Louisiana, Baton Rouge, offers a blend of historic and modern attractions. The median home sale price is about $219,950, making it another affordable area. Baton Rouge is home to the Louisiana State Capitol and Louisiana State University and the lively downtown area with its many restaurants and shops. Make sure to spend time outside at the nearby Bluebonnet Swamp Nature Center.

4. Little Rock, AR

Median home price: $220,000
Average sale price per square foot: $125
Average rent for a 1-bedroom apartment: $892
Median household income: $58,697
Little Rock, AR homes for sale
Little Rock, AR apartments for rent

A charming city with a rich history and a thriving arts scene, Little Rock, AR, is fourth on our list of affordable places to live in the South. Little Rock has iconic attractions such as the William J. Clinton Presidential Library, Old State House Museum, and the River Market District. You can also check out Pinnacle Mountain State Park, Julius Breckling Riverfront Park, and the Arkansas River Trail.

5. Louisville, KY

Median home price: $232,500
Average sale price per square foot: $143
Average rent for a 1-bedroom apartment: $1,108
Louisville, KY homes for sale
Louisville, KY apartments for rent

Home to 633,0oo residents, Louisville, KY, has a median home sale price of $232,500, making it another great area. Louisville is known for its annual Kentucky Derby horse race held at the famous Churchill Downs racetrack. The city also offers a variety of attractions, including the Louisville Slugger Museum, the Muhammad Ali Center, Louisville Waterfront Park, and Cherokee Park.

6. Winston-Salem, NC

Median home price: $250,000
Average sale price per square foot: $158
Average rent for a 1-bedroom apartment: $1,035
Median household income: $54,416
Winston-Salem, NC homes for sale
Winston-Salem, NC apartments for rent

Known for its vibrant arts scene and historic architecture, Winston-Salem is a charming city located in the heart of North Carolina. Winston-Salem is home to attractions such as Old Salem Museums & Gardens and the Reynolda House Museum of American Art. You can also take in the beautiful scenery at Tanglewood Park, the Quarry at Grant Park, and Salem Lake.

7. Greensboro, NC

Median home price: $271,500
Average sale price per square foot: $163
Average rent for a 1-bedroom apartment: $1,016
Median household income: $55,051
Greensboro, NC homes for sale
Greensboro, NC apartments for rent

Another affordable North Carolina city is Greensboro, with a median sale price of $271,500. Home to 285,300 people, Greensboro has a rich history and a variety of attractions. You can explore the International Civil Rights Center & Museum and the Greensboro Science Center, spend time outside at the Bog Garden and the Greensboro Arboretum, and stroll through Greensboro’s downtown, where you can find museums, local restaurants, and venues.

8. Lexington, KY

Median home price: $284,500
Average sale price per square foot: $171
Average rent for a 1-bedroom apartment: $1,279
Lexington, KY homes for sale
Lexington, KY apartments for rent

Eighth on our list of places to live in the South is Lexington, KY. Known for its equestrian heritage, Lexington is home to the Kentucky Horse Park and the Keeneland Race Course. The city also has historic attractions, like the Mary Todd Lincoln House and the Lexington History Museum. You can enjoy outdoor activities at the Raven Run Nature Sanctuary and McConnell Springs Park.

9. New Orleans, LA

Median home price: $295,000
Average sale price per square foot: $193
Average rent for a 1-bedroom apartment: $1,560
Median household income: $51,116
New Orleans, LA homes for sale
New Orleans, LA apartments for rent

The “Big Easy” New Orleans is an iconic Southern city with its vibrant music scene, historic architecture, and diverse culture. New Orleans is home to attractions such as the French Quarter, Lafayette Square, Bourbon Street, Jackson Square, and the National WWII Museum. Make sure to spend time outdoors at New Orleans City Park, Bayou Sauvage Urban National Wildlife Refuge, and Audubon Riverview Park.

10. Norfolk

Median home price: $300,000
Average sale price per square foot: $190
Average rent for a 1-bedroom apartment: $1,350
Median household income: $60,998
Norfolk, VA homes for sale
Norfolk, VA apartments for rent

The last city on our list of affordable places to live in the South is Norfolk, VA. This waterfront city has a prominent maritime history and plenty of attractions. In Norfolk, make sure to explore the Norfolk Botanical Garden, see the exhibits at the Chrysler Museum of Art, and stop by the USS Wisconsin battleship. You can also visit the Norfolk Zoo and stroll along the Elizabeth River Trail.

Methodology: All cities must have over 200,000 residents per the US Census and have a median home sale price at or below $300,000. Median home sale price and median sale price per square foot from the Redfin Data Center during February 2024. Average rental data from Rent.com February 2024. Population and median household income data sourced from the United States Census Bureau.

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