Cheapest Homes in Kansas

Though the average price of a house selling in Kansas these days is around $156,000, the cheapest homes in Kansas continue to be 1/10th of that amount. For the foreseeable future, Kansas is going to be in a buyers market. Consider that over 20,000 homes are on the market in Kansas, while only about 2,700 residences are bought a month. That's a 7+ month backlog on housing in the state, so a lot of sellers are desperate to sell their properties.

Housing Sells in Kansas

At its peak in 2006, 80,000 homes sold in the state of Kansas. By 2011, the pace for home sells is cut by over a half. Home sells might only reach 33,000 to 35,000 for the entire year. The worst spot for a person to be trying to sell real estate in Kansas right now is in the northeast part of the state, where several of Kansas's larger cities can be found.

Real Estate Trends in Eastern Kansas

The average price of a 3 bedroom home in Kansas City was $203,000 two years ago, but it's gone down 9% since then. The average price fell to $187,000 a year ago, nearly rose up to its old average six months ago at $200,000, but had fallen back to $188,000 a month ago. Today, it sits at a two-year low at $178,000, so you can see the news isn't real bright for home sellers, financiers, and real estate brokers. On the other hand, that means you should be able to find cheap homes in eastern Kansas, within the metropolitan area of Kansas City, Missouri.

This is important because Northeastern Kansas has been the hardest hit area of the state with foreclosures. Wichita, further south, remains strong than either Topeka or Lawrence. Manhattan, Kansas has seen the worst decline of the four cities. At the same times, sales and prices in rural areas, though they've fallen significantly, remain stronger and more stable than in the urban areas where most of the building of the 2005-2006 boom took place.

Cheap Homes in Wichita

I'll start the listings for Wichita with the local roll of HUD homes available, because HUD has the cheapest homes in the city of Wichita. As evidence, check out the 3 bed, 1 bath house at 1601 South Elizbeth with a sell price of $5,000. Of course, this home is available for owner occupants, non-profits, and government use only. I only list it in case a non-profit organization needs to buy a home in Wichita in the near future. Among the exclusive homes in Wichita, there are $30,000, $33,000, and $62,000 residences, but I'll skip over those in lieu of those with a extended listings.

South Spruce Road has a 3 bedroom, 1 bathroom residence selling fro $27,500. This is one of those homes I've talked about where the broker gets a $1,250 commission on the sell, so you should be able to get in the home quickly. A new listing on South Catherine Street has 4 bedrooms and 1 bathroom, and is selling for $36,000. Fabrique Street has a $41,980 home with a 2 bedrooms and 1 bathroom. The price on this house has recently been reduced, so this home seller is coming down off a price that was set to high to begin with. Keep an eye on this one and see if the price continues to lower.

Among the homes not listed by HUD are a couple of foreclosures you might be interested in. East MacArthur Road has a lot selling for $34,900. The house on the lot has 3 bedrooms and 2 bathrooms. Castle Drive has a 2 bed, 1 bath residence with 905 square feet that's being offered for $49,900. This is another house to keep an eye on and see if the price is reduced later.

Inexpensive Houses in Overland Park

Overland Park is the second largest city in Kansas, with a population sitting at around 173,000 people. Overland Park is near Kansas City on Highway 50, so you could work in Kansas City and live in Overland Park.

On South Ocheltree Street in Overland Park a house is listed at $27,900. This home has 2 bedrooms and 1 bath and is, by far, the cheapest home I've found in the Overland Park area--actually in Olathe a few miles down Hwy 50. Olathe is no small town itself, with a population of 125,000.

Among the HUD homes in Overland Park, you can find one house selling for $45,000 (exclusive) and $47,200 (extended). The $47,200 home is found in West 56th Terrace and has 2 bedrooms, 1 bathroom, and a garage. The total square footage is 804 and the total number of rooms is 4. The house was built in 1978.

On West 100th Terrace there's a $72,500 home which contains 3 bedrooms and 1 bath. This home also has 4 rooms, 769 square feet, and a garage. The home was built in 1962 and actually has four thin pillars on connected to the front of the roof.

Affordable Housing in Topeka

Topeka appears to have a quite depressed local housing market, because I found multiple listings of cheap houses--and some of those houses look quite nice. Let me give two prime examples. Southwest Fillmore Street has a house selling for $39,000 with 4 bedrooms and 2 bathrooms. The house is listed as having only 441 square feet. While it looks like a smaller house, I have a hard time believing you could fit 4 bedrooms and two bathrooms in that floorspace. Since that requires two inputs to the database, I have a hard time believing that's the incorrect information. This house is set off from other nearby residences and the yard and surrounding area are so green as to be idyllic.

Another house with a green yard is a nice little white house on Southwest Randolph Avenue selling for $38,500. This house has 2 bedrooms, 1 bathroom, and 1 carport. The front yard is commanded by a nice, tall tree, significantly adding to the scenery.

Also in the area is a 3 bed, 2 bath residence on Southwest Woodcroft Way selling for $25,000 and a 3 bed, 2 bath home (1,408 square feet) on Southwest Windwood selling for $22,000. Northeast Forest Aveneue in Topeka has a 2 bed, 1 bath home with 925 square feet with an asking price of $24,000.