Houses selling for $99,000 in this City

The third cheapest housing market in America to buy a house is Charleston, West Virginia.

Homebuyers in this metro can purchase houses for less than $100,000, with the typical value of a house trading at only 2.5x the local median income.

The reason why home prices are cheap in Charleston is because the area got hit very hard by an economic downturn over the last several decades. The area's main economic driver is coal production, which is in decline.

As a result, home prices in Charleston are like to stay cheap for homebuyers in coming years.

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