Verkkoif you’re on a budget and have maybe been struggling to find affordable listings in the current housing market, you’re in luck. Verkkocheck out these cities where you can buy a lake home for under $250,000. All median home values come from redfin. If you’re over 50, take advantage of massive travel. Verkkoready to make the leap into homeownership? Discover 11 cities where affordable housing is still a reality under $250,000. Verkkoyou likely need an income of at least $65,000 to afford a $250,000 house — and possibly more depending on your other debt obligations and the cost. Verkkobuyers want that desirable combination of an affordable home in a safe and prosperous neighborhood. There are good options that meet those criteria. Verkkowhen the median home value in your area is $1 million or more, a 20% down payment alone comes to $200,000. That’s why gobankingrates has.