Some of the nation’s most affordable housing markets are also among America’s hottest.
Realtor.com’s Market Hotness rankings are based on two factors:
- Market demand, which is based on unique views per property on Realtor.com
- The market’s pace, which is based on the number of days a listing remains active on Realtor.com
Recently, Realtor.com rounded up its list of the hottest housing markets in the U.S. during August. While many of these markets have high median list prices — up to nearly $600,000 — a handful offer affordable homes.
The following hot markets all have median listing prices of less than $300,000. However, prices in many of these markets are on the rise.
1. Springfield, Ill.
Median home list price: $215,000 as of August 2025
Market Hotness ranking: No. 15
Median time that homes spent on the market before selling: 35 days
News reports note that Springfield has a job market that is both vibrant and balanced, with industries such as construction, education and health care driving growth.
However, while housing remains affordable here, prices are rising due to a tight inventory level.
2. Erie, Pa.
Median home list price: $239,000 as of August 2025
Market Hotness ranking: No. 14
Median time that homes spent on the market before selling: 38 days
Erie is another market where tight inventory is driving prices higher. In March, inventory levels were 8% lower than they were in 2019, according to the National Association of Home Builders.
Still, median home prices remain under $250,000, making homes here a bargain when compared to other housing markets.
3. Toledo, Ohio
Median home list price: $245,000 as of August 2025
Market Hotness ranking: No. 19
Median time that homes spent on the market before selling: 33 days
The housing market has caught fire in Toledo over the past year. As with other affordable markets on this list, rising demand has left fewer homes for sale, which has pushed up prices. In particular, investors are now snatching up more homes in the city.
As Stephen Toon, the treasurer of the Northwest Ohio Realtors, told The Blade:
“There just isn’t enough inventory, nor will there be enough inventory for years to come.”
Other affordable hot markets
Among the 20 hottest housing markets in August, these are the other places where places where you can buy a home for less than $300,000, along with their median list price, Market Hotness ranking and median days on the market:
- Rockford, Ill.: $250,000, No. 9, 37
- Akron, Ohio: $250,000, No. 20, 37
- Canton-Massillon, Ohio: $270,000, No. 16, 33
- Rochester, N.Y.: $280,000, No. 5, 33
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