Best Place to Buy a House in the USA Under $300K for Foreigners

Are you a foreigner hoping to own a house in the USA? Is your Budget around or slightly under $300K? Are you scuffling to find a house that suits your pocket and pleases your heart simultaneously? Well, you needn’t worry anymore, for here is a carefully compiled list of serene and vibrant cities in the USA that house various amenities like educational institutes, sporting outlets, healthcare, entertainment hubs, and most importantly, a home within your budget.

This listicle provides you with an overview of these cities that promise a home within $300K. And the different types of houses that every city offers, along with the average home values of each type.

Following are the types of houses that we have focused on, namely

• Single-family home
• Condo, and
• Townhouse

While a few of you may know what a single-family house, condo, and townhouse mean, however for the benefit of the unversed, let’s run through each of these types separately.

Types of Houses in USA under $300K

Single Family Home

A single-family detached home also called a single-detached dwelling or separate house, is a free-standing residential building. It is also referred to as a single-family home, as opposed to a multi-family residential dwelling with no other families living above, below, or next to them. This type of housing comes in various shapes and sizes, from small bungalows to large executive homes.

A single-family home may be built on its land or built within a larger community, such as a subdivision, planned unit development, condominium, or gated community. Single-family homes are often constructed in various architectural styles and designs and are also classified by size. They range from small bungalows and cottages to large executive homes. They are usually one or two stories tall.

The price of a single-family home depends on several factors, like the size of the house, its style, location, and amenities.

Condominium

A condominium, often shortened to a condo, is a type of real estate divided into several units, each separately owned, surrounded by common areas jointly owned. Condos are a type of Horizontal Property Regime (HPR), defined by the Mexican Civil Code as “the joint ownership of undivided co-ownership of horizontal property, constituted between two or more natural or legal persons, in which a separate title of ownership is granted to each of the co-owners for a unit consisting of one or more rooms constituting a dwelling, with the use and enjoyment of common areas.”

The term “condominium” is used in the United States, Canada, Puerto Rico, Peru, Ecuador, Israel, Ireland, Japan, Malaysia, Thailand, Pakistan, and other countries. However, in some other countries, like India, the term “condominium” refers the properties like housing complexes and societies.

In the United States, a condominium is frequently a unit in a larger building, usually one that is multi-unit, and the owner has exclusive ownership of their own unit but shares common areas such as hallways, laundry facilities, recreation rooms, and gyms with the other owners in the building. The structure of a condominium may take several forms:

• It may be a single structure with multiple units (the most common form).
• It may take the form of separate units in a single structure, like an apartment building (less common).
• It may be multiple detached or semidetached structures, each containing numerous units (a development).

Townhouse

A townhouse is also referred to as a row house or townhome. It is a type of terraced housing. These days a modern townhouse is often one with a small footprint on multiple floors. The term originally referred in British usage to the city residence of someone whose primary or largest residence was a country house.

Most townhouses are part of a row of identical structures sharing side walls. As with terraced houses, townhouses have external facing walls and internal party walls (walls shared by properties on either side).

Now that you have an idea of different types of houses that are available under $300K let’s go ahead and find out where and for how much.

Best Place for Foreigners to Buy a House in the USA Under $300K

1. Orlando, Florida

The Sunshine State is unsurprisingly one of the most desirable US states to live in, not just for its weather but also because of strong job prospects and low cost of living. Orlando is one of the most affordable large cities in Florida, and its population has rapidly grown in recent years.

Cost of Living

The cost of living in Orlando is about 7% below the national average, and the city has a relatively low unemployment rate of 3.8%. Several affordable neighborhoods in Orlando, such as Azalea Park, Pine Hills, and Conway, offer affordable housing prices.

Average Per Square Feet Prices for Different Types of Houses

• Condo- $150
• Townhouse –$156
• Single Family Home-$176
• 3 BHK- $250k – $275k
• 4 BHK- $275k – $300K
• The median list price per square foot in Orlando is $162, which is lower than the Orlando-Kissimmee-Sanford Metro average of $165. The most popular type of home in Orlando is the single-family home, which makes up 59.4% of all homes currently listed for sale.

Median List Price

$272,000

2. Myrtle Beach, South Carolina

Myrtle Beach is known for its beautiful beaches, fantastic weather, and friendly people. It’s also a great place to buy a home. It has an average temperature of 74 degrees Fahrenheit. That means you can enjoy the beach all year round. The city also has over 200 sunny days per year, so you can enjoy the outdoors even when it’s not beach weather.

Myrtle Beach is a golfer’s paradise with over 100 golf courses. The city is known for its fresh seafood, and there are plenty of great restaurants to choose from. You can also find all your favorite American foods here as well. The city has something for everyone. There are amusement parks, water parks, museums, and more. You’ll never be bored here.

Cost of Living

The cost of living in Myrtle Beach is about 10% below the national average, and the city has a relatively low unemployment rate of 5.2%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $133

Townhouse-$149

Single Family Home-$166

3 BHK- $229k – $259k

4 BHK- $259k – $289k

The median list price per square foot in Myrtle Beach is $166, which is lower than the Myrtle Beach Metro average of $174. The most popular type of home in Myrtle Beach is the single-family home, which makes up 78.0% of all homes currently listed for sale.

Median List Price

$289,900

3. Apple Valley, Minnesota

This city is located in the Twin Cities metropolitan area and is a popular choice for families. There are plenty of things to do here, including hiking and biking. The plush green golf courses are every golfers’ paradise. The city also has several museums and art galleries.

Cost of Living

The cost of living in Apple Valley is about 7% below the national average, and the city has a relatively low unemployment rate of 3.8%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $142

Townhouse –$156

Single Family Home-$170

3 BHK $250k – $275k

4 BHK $275k – $300K

The median list price per square foot is $162, which is lower than the Minneapolis-St. Paul-Bloomington Metro average of $168. The most popular type of home in Apple Valley is the single-family home, which makes up 77.4% of all homes currently listed for sale.

Median List Price

$274,900

4. Kansas City, Missouri

This city is located in the Midwestern United States and is known for its Jazz music scene. The city has several cultural attractions, including the Nelson-Atkins Museum of Art and the Kansas City Zoo. There are also plenty of outdoor activities, such as hiking and biking. The city also has many excellent schools.

Cost of Living

The cost of living in Kansas City is about 10% below the national average, and the city has a relatively low unemployment rate of 4.9%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $116

Townhouse-$132

Single Family Home-$148

3 BHK $217k – $247k

4 BHK $247k – $277k

The median list price per square foot in Kansas City is $148, which is lower than the Kansas City Metro average of $154. The most popular type of home in Kansas City is the single-family home, which makes up 77.6% of all homes currently listed for sale.

Median List Price

$289,000

5. West Virginia

West Virginia is a state located in the Appalachian region of the United States. It is bordered by Virginia to the southeast, Kentucky to the southwest, Ohio to the northwest, and Pennsylvania and Maryland to the northeast. West Virginia is the 41st largest state by area and ranks 38th in population. The capital and largest city is Charleston.

Cost of Living

The cost of living in West Virginia is about 5% below the national average, and the state has a relatively low unemployment rate of 4.7%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $111

Townhouse –$126

Single Family Home-$143

3 BHK- $189k – $219k

4 BHK- $219k – $249K

The median list price per square foot is $143, which is lower than the Charleston Metro average of $149. The most popular type of home in West Virginia is the single-family home, which makes up 77.3% of all homes currently listed for sale.

Median List Price

$219,900

6. New Mexico

New Mexico is a state located in the southwestern United States. Colorado borders it to the north, Oklahoma, Texas to the east, and Arizona to the west. It is the fifth largest state by area and ranks 39th in population. The capital and largest city is Santa Fe.

Cost of Living

The cost of living is about 11% below the USA’s average, and the state has a relatively low unemployment rate of 5.5%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $133

Townhouse –$151

Single Family Home-$169

3 BHK $225k – $255k

4 BHK $255k – $285K

The median list price per square foot is $169, which is lower than the Santa Fe Metro average of $176. The most popular type of home here is the single-family home, which makes up 77.1% of all homes currently listed for sale.

Median List Price

$285,000

7. Las Vegas, Nevada

The bright lights of the Las Vegas Strip may be seen for miles, but there is so much more to see and do in this vibrant city. From gambling and shopping to live entertainment and world-class dining, there is something for everyone in Vegas. For those looking to take in some of the natural beauty of the area, Red Rock Canyon National Conservation Area is just a short drive away. Netizensof vegas also enjoy white sand beaches and often try their luck at one of the many casinos. Many other options are available for those who want to take a break from gambling. Shopping is a popular activity; there are also many malls and boutiques to explore.

Cost of Living

The cost of living in Vegas is about 10% below the national average, and the city has a relatively low unemployment rate of 4.9%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $116

Townhouse-$132

Single Family Home-$148

3 BHK $217k – $247k

4 BHK $247k – $277k

The median list price per square foot is $148, which is lower than the Las Vegas Metro average of $154. The most popular type of home in Las Vegas is the single-family home, which makes up 77.6% of all homes currently listed for sale.

Median List Price

$289,000

8. Colorado Springs, Colorado

Nestled at the base of the Rocky Mountains, Colorado Springs is a picturesque city with many outdoor activities to enjoy. Hiking, biking, and camping are all popular in the area. The Garden of the Gods is a must-see for those who appreciate natural beauty. The U.S. Olympic Training Center is also located in Colorado Springs. The city has a lively downtown area with plenty of shops and restaurants to explore.

Cost of Living

The cost of living in Colorado is about 9% below the national average, and the state has a relatively low unemployment rate of 4.8%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $142

Townhouse- $160

Single Family Home- $178

3 BHK- $234k – $264k

4 BHK- $264k – $294K

The median list price per square foot in Colorado Springs is $178, which is lower than the Colorado Springs Metro average of $185. The most popular type of home in Colorado is the single-family home, which makes up 79.0% of all homes currently listed for sale.

Median List Price

$294,000

9. Reno, Nevada

Reno is the largest city in the state of Nevada and is known as “The Biggest Little City in the World.” The city is located in the western part of the state, near the California border. Reno is a popular destination for gambling, shopping, and entertainment. The city is also home to the University of Nevada, Reno.

Cost of Living

The cost of living in Reno is about 11% below the national average, and the city has a relatively low unemployment rate of 4.7%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $128

Townhouse-$145

Single Family Home-$162

3 BHK $219k – $249k

4 BHK $249k – $279K

The median list price per square foot in Reno is $162, which is lower than the Reno Metro average of $170. Reno’s most popular type of home is the single-family home, which makes up 78.4% of all homes currently listed for sale.

Median List Price

$279,000

10. Gary, Lake Michigan

Gary city is located in Lake Michigan and the Chicago metropolitan area. It is the fifth largest city in Indiana and is home to over 80,000 people. It was founded in 1906 by the United States Steel Corporation as the site for its new steel mill. It has a long history of manufacturing and is home to many large companies, including Gary Works, a steel mill that is the largest in the United States. It hosts numerous universities and colleges and many cultural and historical attractions. There are also several excellent schools, as well as a variety of cultural and historical attractions. If you’re looking for a place to raise a family, look no further than Gary city.

Cost of Living

The cost of living in Gary is about 6% below the national average, and the city has a relatively low unemployment rate of 4.8%.

Average Per Square Feet Prices for Different Types of Houses

Condo- $109

Townhouse-$124

Single Family Home-$142

3 BHK $209k – $239k

4 BHK $239k – $269k

5 BHK $269k – $299K

Gary’s median list price per square foot is $142, which is lower than the Chicago-Naperville-Elgin Metro average of $153. Gary’s most popular type of home is the single-family home, which makes up 73.9% of all homes currently listed for sale.

Median List Price

$244,900

Requirements for Buying a House in the USA as a Foreigner

Foreigners who want to buy a house in the USA will need the following,

1. A passport valid for at least six months after the planned travel date.

2. A visa allows you to stay in the USA for at least 90 days.

3. Proof of funds, such as a bank statement or letter from a financial institution, shows that you have the money to buy a house.

4. A letter from your employer confirming your employment and income.

5. A credit report from a U.S.-based credit bureau. (No US Credit Mortgage Available for Foreigners and US NewComers)

6. An appraisal of the property you are interested in buying.

7. A title search of the property ensures no outstanding liens or mortgages.

8. A home inspection to check for any structural or other defects.

9. Homeowner’s insurance.

10. A loan application if you are planning to finance your purchase.

11. A real estate purchase contract.

12. A deed of trust if you are financing your purchase.

13. A Certificate of Eligibility for a home loan if you are a veteran of the U.S. armed forces.

15. A Foreign National Mortgage, if you are a foreigner buying a property in the USA.

16. A deposit, typically 10% of the purchase price, must be paid when signing the purchase contract.

17. The purchase price balance is to be paid at closing.

18. Closing costs typically total 2-5% of the purchase price.

19. A home warranty if you are buying a newly built home.

20. An CIPS-approved real estate agent.

Conclusion

There you have it! The top 10 best places to buy a home in the United States under$300K. These cities are great places to settle or buy a vacation home for investment purposes. Be it the netizens or the tourists visiting these ten incredible and affordable places, all admire them alike.

If you want to buy a property in the US as a foreigner, then HomeAbroad can help you connect with a real estate agent with international experience to make your purchase super easy. Moreover, we provide foreign national mortgages with no US credit history at competitive terms. Reach out to get started.

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