Photo: Google Earth
We recently took you on a tour of the zip codes with the most expensive real estate. In the top 12, the price tags on homes currently on the market exceeded $3 million.And in the most expensive zip code, which belongs to Alpine, New Jersey, the average home on the market was a whopping $4.55 million.
Of course, that’s only one side of the story. Many neighborhoods, especially in poor urban areas, continue to struggle as jobs disappear and residents move out.
Today we’re taking a look at the zip codes in the U.S. where home prices are the cheapest, using current median home price data compiled by real estate data firm Altos Research.
A staggering number are located in Michigan, within the borders of Detroit, where tons of housing stock sits abandoned. The median home price in the 15 cheapest zip codes is less than $15,000. And in the cheapest zip code in America, you can buy a house for less than the price of a fancy ashtray.
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