10 cheapest housing markets 1. Niagara Falls, N.Y. Average list price: $60,820 Median household income: $33,423 Population: 51,295 Although it's a bustling tourist destination for visitors hoping to experience majestic waterfalls, Niagara Falls has some of the lowest real-estate values in the country, with list prices for homes averaging about $61,000.
While its unemployment rate is lower than the national average, the city's relatively flat economy isn't creating much demand for housing. Put in perspective, the average four-bedroom, two-bathroom home in Niagara Falls could translate into a monthly mortgage payment of about $260, according to the Coldwell Banker study.
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