With higher housing costs gripping several areas of the nation, there are still plenty of bargains to be had, according to a new study by GOBankingRates. Analyzing home prices, mortgage rates and mortgage payments from thousands of markets, this study found the top cities across the U.S. where you can own a home for $1,000 or less a month. To determine mortgage payments, the report assumed a house bought for the current median list price with 20% down and the average mortgage rate for the state, according to Zillow.
| Ranking | City | Mortgage Rate | Mortgage payment/ Monthly | 1-year forecast, percent increase |
| 1 | Toledo, Ohio | 4.29% | $382 | 2.3 |
| 2 | Memphis, Tenn. | 4.22% | $403 | 3.4 |
| 3 | Baltimore | 4.25% | $695 | 2.2 |
| 4 | Cleveland | 4.29% | $380 | 4.1 |
| 5 | Buffalo, N.Y. | 4.30% | $428 | 4.3 |
| 6 | El Paso, Texas | 4.22% | $806 | 2.1 |
| 7 | Oklahoma City | 4.30% | $887 | 2.3 |
| 8 | Milwaukee | 4.30% | $595 | 4.1 |
| 9 | Tulsa, Okla. | 4.30% | $789 | 3.2 |
| 10 | Wichita, Kan. | 4.33% | $746 | 3.7 |
| 11 | Indianapolis | 4.24% | $722 | 4 |
| 12 | Newark, N.J. | 4.24% | $920 | 2.9 |
| 13 | Cincinnati | 4.29% | $856 | 3.3 |
| 14 | Louisville, Ky. | 4.32% | $926 | 3.1 |
| 15 | Kansas City, Mo. | 4.29% | $879 | 3.4 |
| 16 | Columbus, Ohio | 4.29% | $786 | 4.3 |
| 17 | Philadelphia | 4.25% | $916 | 3.7 |
| 18 | St. Louis | 4.29% | $694 | 5.6 |
| 19 | Jacksonville, Fla. | 4.23% | $963 | 4.5 |
| 20 | Pittsburgh | 4.25% | $961 | 5 |