Dream Homes for Less! 5 Bargain Dwellings in Ultra Desirable Metros That You Can Buy Now for Under $200K

With housing prices still at a high despite mortgage interest rates recently dropping to 6.19%, finding an affordably priced home can still be a challenge for homebuyers.

However, there are still some appealing pockets across the U.S., where house hunters can secure a dream dwelling in a desirable locale for a bargain price—you simply have to know where to look.

At the end of November, Realtor.com® spotlighted 10 metros offering homes under $250,000—an impressive $175,000 below the national median—all of which boast community amenities that make them not only affordable but truly desirable places to live.

"Even in today’s challenging housing market, several smaller metros continue to offer home shoppers a rare combination of affordability and stability," says Hannah Jones, senior economic research analyst at Realtor.com.

"In many of these cities, home prices remain closely aligned with local incomes, allowing a typical household to purchase a typical for-sale home without being priced out."

Now, as we await next week's Federal Reserve meeting to see whether policymakers will announce the third overnight benchmark rate cut this year, Realtor.com has rounded up five of the most alluring abodes in these areas, from New York to Texas.

Whether you are a new homebuyer seeking a starter home or a retiree wanting to downsize to an affordable residence, here are five unbelievable bargains that could prove a solid investment.

1. 1416 Hayes St, Wichita Falls, TX

Price: $199,900

Near Sheppard Air Force Base: Built in 1925, this four-bedroom brick residence "brimming with potential" boasts newly installed windows and a brand-new front door.

While no interior photos are shown, the listing says the "incredible buy" in Floral Heights has a formal dining area, living room, sun room, and outdoor bar area. An updated kitchen has custom cabinetry, granite countertops, and a shiplap ceiling.

This corner lot also features a detached garage, offering additional accommodations.

Jody Brannon, of Hirschi Realtors, is the listing agent.

2. 1701 W Church St, Elmira, NY

Price: $139,000

33 miles southwest of Ithaca: This two-bedroom ranch is nestled on a corner lot in the same town where Mark Twain wrote "The Adventures of Huckleberry Finn."

Built in 1940, the 1,364-square-foot ranch has already received an $11,000 price chop after hitting the market just a few weeks ago. The cozy living room has a wood-burning fireplace, while a bright and airy bedroom boasts cathedral ceilings, a skylight, and outdoor access. There is also an attached, two-car garage.

A front, covered patio would be a nice spot for morning coffee.

Susan A. Sprout, of Nora M. E. Davis Real Estate, is the listing agent.

3. 901 Fairview St, Pottsville, PA

Price: $139,900

50 miles from Allentown: This three-bedroom residence spanning a corner lot features a freshly painted interior.

Built in 1950, the 1,388-square-foot residence has tile floors and carpeting. A large kitchen with oak cabinetry has white and stainless steel appliances. There is also a two-car, attached garage.

A covered patio overlooks the private fenced-in lot, featuring a paved area with a basketball hoop.

Don Schwartz, of EXP Realty, LLC, is the listing agent.

4. 152 Riverview Dr, Ottawa, IL

Price: $179,900

80 miles southwest of Chicago: This three-bedroom ranch offering "timeless charm" and "endless potential" is ideally located near the Illinois River.

Built in 1952, the 1,300-square-foot residence does need some TLC, but it's "classic design and prime location make it a standout opportunity," according to the listing. Highlights include original hardwood floors, oversized windows, a sunroom, and a lower level with a bathroom that could be transformed into a guest suite.

The property is being sold as is.

Robert Miller, of Vylla Home, is the listing agent.

5. 3214 Penn St, Saint Joseph, MO

Price: $164,900

28 miles from Kansas City: This three-bedroom Cape is located in the same city that is also home to the Kansas City Chiefs Summer Training Camp.

No interior photos are included, but the listing says the 1,500-square-foot home features "beautiful hardwood floors throughout" along with an "additional family room" designed for entertaining and relaxing. Built in 1925, the "move-in ready" residence "full of potential" also features a detached, one-car garage with a workshop.

A private outdoor space overlooks the fenced yard.

Tammy Rivera, of Berkshire Hathaway HomeServices Stein & Summers Real Estate, is the listing agent.