Can You Really Buy a Home for $1? Here’s What Those Listings Mean—and Where You Can Find Them

by Julie Taylor

The current median list price for a home in the U.S. is $415,000—but, there are hundreds of houses on the market for just $1.

Sometimes, listing a home for $1 is simply an unconventional marketing tactic to help widen the buyer pool or spark a bidding war. It can also be a way to let the market determine the true value of a property.

"The $1 price is often a tool used to move difficult properties efficiently in markets where traditional listings don’t always work," says Hannah Jones, senior economic research analyst at Realtor.com®.

Cara Ameer, a real estate agent with Coldwell Banker who is licensed in Florida and California, agrees, saying, "It’s purely a gimmick designed for the property to go viral and garner a lot of attention and interest quickly."

A home that is listed for $1 will get multiple offers over list price and will eventually be sold at the market value, adds Kati Spaniak, a real estate agent with eXp Realty in Northbrook, IL.

"While this might be a 'scam' in some people's eyes, when a home is correctly marketed to the open market, you can’t truly underprice it—buyers will always set the price."

Other times, $1 listings could signal a foreclosure or the starting bids in auctions.

Caitlin Wardlow of Wardlow Auctions recently listed a Louisville property for $1.

"It definitely gets people to look," she tells Realtor.com. "We get a lot of calls and emails asking about it for sure, with a lot of inquiries like, 'How can you sell something for $1? What is wrong with it?'"

But, a $1 home can also come with sky-high strings attached.

"I've listed homes for that cheap because we wanted someone to buy out the seller of their country club membership obligations," Palm Beach real estate broker Jeff Lichtenstein, CEO of Echo Fine Properties, tells Realtor.com. "It was very typical in the 'Big Short' market where membership cost of carry was so high and the home could only be sold if someone also bought the membership."

You could also be on the hook for back property taxes, code violations, and other liens that the previous owners didn't pay off, so you should always do your due diligence before submitting an offer.

Real estate expert Sain Rhodes at Clever Offers says, "I spent $2,500 on due diligence for a $1 property and uncovered $67,000 in unremedied code violations. You are not just buying a home; you are purchasing a debt obligation. That knowledge meant I didn't buy it, so that $2,500 saved me from a $100,000 mistake."

Other $1 homes are far from move-in ready, with repair costs frequently reaching tens of thousands of dollars.

"Most of these houses are in very rough shape and look quite scary," Andrew Fortune, real estate agent and brokerage owner at Great Colorado Homes tells Realtor.com. "I have seen floors that have completely rotted through to the dirt, and local codes might even say the house is too dangerous to enter. You will likely spend more money on repairs than the house is worth, so it's usually cheaper to knock it down and start over from scratch."

Rhodes says she once evaluated a $1 home with foundation settling, roof damage, and outdated systems in nearly all areas.

"The 47-page inspection report was a testament to the extent of the damage—which a contractor said would cost $180,000 to fix," she recalls, adding that was a definite deal-breaker.

A $1 home could also be a scam, warns Minnesota real estate investor Marisa Simonetti.

"There are many fee advance frauds out there—where criminals list stolen pictures and demand money upfront for nonexistent properties—and they increase around the holidays," she says. "Always be sure to work with a reputable title company to protect yourself."

Top 10 metros with the most $1 homes

These bargain-basement deals crop up more often in some areas than others.

Realtor.com economists recently identified the 10 metros with the highest number of $1 homes for sale.

Wenatchee-East Wenatchee, WA

Median list price: $627,500

Number of $1 homes for sale in November 2025: 38

Louisville/Jefferson County, KY-IN

Median list price: $309,900

Number of $1 homes for sale in November 2025: 34

Photo of Louisville, KY home for sale for $1 — This Louisville, KY, townhome may be listed for just $1, but it’s heading to auction, where it’s likely to sell for much more. (Realtor.com)

Dayton-Kettering-Beavercreek, OH

Median list price: $249,900

Number of $1 homes for sale in November 2025: 28

St. Louis, MO-IL

Median list price: $291,900

Number of $1 homes for sale in November 2025: 20

St. Louis home for sale for $1 — This St. Louis, MO, home is on the market for $1, but the listing says it's part of an "online bidding event," and the list price is not indicative of the seller's final reserve amount. (Realtor.com)

Fort Smith, AR-OK

Median list price: $269,900

Number of $1 homes for sale in November 2025: 17

Gadsden, AL

Median list price: $279,900

Number of $1 homes for sale in November 2025: 14

$1 Gadsen, AL home for sale — This 925-square-foot house is listed for $1 in Gadsen, AL. (Realtor.com)

Iowa City, IA

Median list price: $344,995

Number of $1 homes for sale in November 2025: 12

Houston-Pasadena-The Woodlands, TX

Median list price: $354,999

Number of $1 homes for sale in November 2025: 11

Photo of $1 home for sale in Houston — The real estate agent for this $1 Houston house is taking online bids on the property over three days. (Realtor.com)

New Philadelphia-Dover, OH

Median list price: $249,950

Number of $1 homes for sale in November 2025: 11

Mount Vernon, OH

Median list price: $344,900

Number of $1 homes for sale in November 2025: 10

Photo of $1 home for sale in Mount Vernon, OH — This two-bedroom, two-bathroom home in Mount Vernon, OH, is listed for $1. (Realtor.com)

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