The 21502 zip code in Cumberland, Maryland tops our ranking of the most affordable places to live on the East Coast.
We looked at 2498 zip codes in the region, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live on the East Coast
The East Coast includes Connecticut, Delaware, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia.
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Cumberland, Maryland 🥇 | 96.4 | $139,702 | $916 |
| 2 | Greenwood, South Carolina🥈 | 87.4 | $130,581 | $798 |
| 3 | Pulaski, Virginia 🥉 | 85.5 | $151,414 | $2,089 |
| 4 | Corning, New York | 85.1 | $164,734 | $1,500 |
| 5 | Baltimore, Maryland | 84.9 | $77,913 | $1,404 |
| 6 | Edgewood, Maryland | 84.4 | $252,767 | $1,594 |
| 7 | South Boston, Virginia | 84.2 | $133,643 | $2,089 |
| 8 | Frostburg, Maryland | 83.7 | $163,516 | $1,970 |
| 9 | Bennettsville, South Carolina | 83.6 | $98,108 | $1,726 |
| 10 | Big Stone Gap, Virginia | 82.6 | $126,702 | $2,089 |
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1. Cumberland, Maryland
Here’s why the 21502 zip code in Cumberland is the region’s most affordable place to live.
🔎 Key data about Cumberland
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 1 | N/A |
| Median home value | $139,702[1] | No. 6 | -$325,873 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.5 | No. 5 | -2.8 |
| Home value five-year change | 35.9%[2] | No. 134 | -13% |
| Home value one-year forecast | 0.0%[3] | No. 166 | -1.4% |
| Rental costs | $916[4] | No. 1 | -$1,200 |
| Rent affordability ratio | 1.61% | No. 12 | -0.8% |
| Median household income | $56,958[5] | No. 167 | -$31,517 |
| Property taxes | $1,736[6] | No. 5 | -$2,743 |
| Energy costs | $0.07 kWh[7] | No. 1 | -$0.08 |
Cumberland’s 21502 zip code is the cheapest place to live on the East Coast, leading the 2498 markets we evaluated.
The median home value is $139,702, making it the 6th-cheapest housing market in the region. Forecasts project a 0.0% change in home values in the next year. Rent in the zip code averages $916 per month, which is the 12th-cheapest amount on the East Coast.
The median property tax for homeowners in Cumberland is $1,736 per household, the No. 5 ranked market on the East Coast.
Residents pay $0.07 per kWh of electricity, which ranks No. 1 among the region’s markets.
2. Greenwood, South Carolina
The 29646 zip code is the 2nd-cheapest place to live on the East Coast.
🔎 Key data about Greenwood
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 87.4 | No. 2 | N/A |
| Median home value | $130,581[8] | No. 13 | -$334,994 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 3.3 | No. 16 | -2.0 |
| Home value five-year change | 38%[9] | No. 24 | -11% |
| Home value one-year forecast | 0.9%[10] | No. 19 | -0.5% |
| Rental costs | $798[11] | No. 1 | -$1,318 |
| Rent affordability ratio | 2.00% | No. 18 | -0.4% |
| Median household income | $39,899[12] | No. 152 | -$48,576 |
| Property taxes | $861[13] | No. 57 | -$3,618 |
| Energy costs | $0.12 kWh[14] | No. 1 | -$0.03 |
Greenwood’s 29646 zip code has a median home value of $130,581, which is the 19th-cheapest housing market on the East Coast. You can rent for an average of $798 per month. That’s the 1st-cheapest price in the region.
The average household income in the zip code is $39,899, which ranks 152nd-highest on the East Coast.
Homeowners in Greenwood pay a median property tax of $861 per year, making it the 57th-most affordable market in the region.
Greenwood ranks No. 1 among the region’s energy markets. You’ll pay $0.12 per kWh of electricity.
3. Pulaski, Virginia
The 3rd-cheapest place to live on the East Coast is Pulaski’s 24301 zip code.
🔎 Key data about Pulaski
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.5 | No. 3 | N/A |
| Median home value | $151,414[15] | No. 9 | -$314,161 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.7 | No. 3 | -2.6 |
| Home value five-year change | 25%[16] | No. 14 | -24% |
| Home value one-year forecast | 0.5%[17] | No. 114 | -0.9% |
| Rental costs | $2,089[18] | No. 92 | -$26 |
| Rent affordability ratio | 2.02% | No. 74 | -0.4% |
| Median household income | $56,965[19] | No. 210 | -$31,510 |
| Property taxes | $1,076[20] | No. 19 | -$3,403 |
| Energy costs | $0.07 kWh[21] | No. 1 | -$0.08 |
The No. 9 cheapest housing market on the East Coast is Pulaski’s 24301 zip code, with a median home value of $151,414. Rents in the market average $2,089 per month, making it the 92nd-most affordable rental market in the region.
The median property tax for households in Pulaski is $1,076, which makes it the 19th-cheapest place on the East Coast. Pulaski ranks No. 1 among the region’s markets by energy costs. Residents pay $0.07 per kWh of electricity.
4. Corning, New York
The 14830 zip code in Corning comes in at No. 4 on our list of the cheapest places to live on the East Coast.
🔎 Key data about Corning
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.1 | No. 4 | N/A |
| Median home value | $164,734[22] | No. 39 | -$300,841 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.2 | No. 9 | -3.0 |
| Home value five-year change | 35%[23] | No. 209 | -14% |
| Home value one-year forecast | 0.2%[24] | No. 312 | -1.2% |
| Rental costs | $1,500[25] | No. 43 | -$615 |
| Rent affordability ratio | 2.02% | No. 35 | -0.4% |
| Median household income | $74,314[26] | No. 332 | -$14,161 |
| Property taxes | $4,396[27] | No. 131 | -$83 |
| Energy costs | $0.11 kWh[28] | No. 5 | -$0.03 |
The No. 4 cheapest housing market on the East Coast is Corning’s 14830 zip code, where the median home value is $164,734. Renters here pay an average of $1,500 per month.
When it comes to energy costs, Corning ranks 5th among the region’s markets. Residents pay $0.11 per kWh of electricity.
The median property tax for households in the zip code is $4,396, which makes it the 131st-cheapest market on the East Coast.
5. Baltimore, Maryland
The 21217 zip code in Baltimore ranks No. 5 among the region’s most affordable places to live.
🔎 Key data about Baltimore
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.9 | No. 5 | N/A |
| Median home value | $77,913[29] | No. 2 | -$387,662 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.1 | No. 2 | -3.1 |
| Home value five-year change | 8%[30] | No. 1 | -41% |
| Home value one-year forecast | -0.9%[31] | No. 9 | -2.3% |
| Rental costs | $1,404[32] | No. 6 | -$711 |
| Rent affordability ratio | 3.83% | No. 177 | 1.4% |
| Median household income | $36,665[33] | No. 178 | -$51,810 |
| Property taxes | $1,542[34] | No. 3 | -$2,937 |
| Energy costs | $0.09 kWh[35] | No. 25 | -$0.05 |
Baltimore’s 21217 zip code has a median home value of $77,913, the 2nd-cheapest market in the region. Forecasts project a -0.9% change in home values in the next year.
The median property tax per household in Baltimore is $1,542. It’s the 3rd-cheapest market by tax rate on the East Coast.
6. Edgewood, Maryland
The No. 6 most affordable place to live on the East Coast is the 21040 zip code in Edgewood.
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🔎 Key data about Edgewood
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.4 | No. 6 | N/A |
| Median home value | $252,767[36] | No. 21 | -$212,808 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.9 | No. 10 | -2.3 |
| Home value five-year change | 39%[37] | No. 150 | -10% |
| Home value one-year forecast | -0.7%[38] | No. 13 | -2.1% |
| Rental costs | $1,594[39] | No. 21 | -$522 |
| Rent affordability ratio | 1.85% | No. 44 | -0.6% |
| Median household income | $86,195[40] | No. 123 | -$2,280 |
| Property taxes | $2,076[41] | No. 10 | -$2,403 |
| Energy costs | $0.09 kWh[42] | No. 25 | -$0.05 |
The back half of our top 10 kicks off with Edgewood’s 21040 zip code, which has the 21st-cheapest home values on the East Coast. The median home value is $252,767. Rents average $1,594 per month, making it the 21st-most affordable rental market in the region.
Residents pay $0.09 per kWh of electricity. It’s the 25th-cheapest energy market.
7. South Boston, Virginia
South Boston’s 24592 zip code is the 7th-cheapest place to live on the East Coast.
🔎 Key data about South Boston
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.2 | No. 7 | N/A |
| Median home value | $133,643[43] | No. 4 | -$331,932 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.5 | No. 2 | -2.7 |
| Home value five-year change | 47%[44] | No. 158 | -2% |
| Home value one-year forecast | 0.4%[45] | No. 97 | -1.0% |
| Rental costs | $2,089[46] | No. 92 | -$26 |
| Rent affordability ratio | 2.02% | No. 74 | -0.4% |
| Median household income | $53,036[47] | No. 220 | -$35,439 |
| Property taxes | $720[48] | No. 3 | -$3,759 |
| Energy costs | $0.07 kWh[49] | No. 43 | -$0.08 |
You’ll find the 4th-cheapest home values on the East Coast in South Boston’s 24592 zip code. The median value: $133,643. Renters in South Boston pay an average of $2,089 per month.
Homeowners in South Boston pay a median property tax of $720 per year, which is the region’s 3rd-most affordable market.
The average household income is $53,036, which ranks 220th-highest on the East Coast.
8. Frostburg, Maryland
The 8th-cheapest place to live on the East Coast is Frostburg’s 21532 zip code.
🔎 Key data about Frostburg
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.7 | No. 8 | N/A |
| Median home value | $163,516[50] | No. 8 | -$302,059 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.9 | No. 9 | -2.3 |
| Home value five-year change | 35%[51] | No. 128 | -14% |
| Home value one-year forecast | 0.0%[52] | No. 166 | -1.4% |
| Rental costs | $1,970[53] | No. 69 | -$145 |
| Rent affordability ratio | 1.89% | No. 49 | -0.5% |
| Median household income | $55,761[54] | No. 168 | -$32,714 |
| Property taxes | $1,654[55] | No. 4 | -$2,825 |
| Energy costs | $0.07 kWh[56] | No. 1 | -$0.08 |
The 8th-cheapest housing market on the East Coast is Frostburg’s 21532 zip code, with a median home value of $163,516. Renters pay an average of $1,970 per month, the No. 69 rental market in the region.
The median property tax for households in Frostburg is $1,654, which makes it the 4th-cheapest place on the East Coast. The average household income of $55,761 ranks 168th.
9. Bennettsville, South Carolina
Bennettsville’s 29512 zip code sneaks into the top ten of the region’s most affordable places to live.
🔎 Key data about Bennettsville
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.6 | No. 9 | N/A |
| Median home value | $98,108[57] | No. 2 | -$367,467 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.6 | No. 4 | -2.6 |
| Home value five-year change | 6%[58] | No. 3 | -43% |
| Home value one-year forecast | -4.6%[59] | No. 1 | -6.0% |
| Rental costs | $1,726[60] | No. 59 | -$389 |
| Rent affordability ratio | 2.55% | No. 60 | 0.1% |
| Median household income | $37,104[61] | No. 156 | -$51,371 |
| Property taxes | $516[62] | No. 8 | -$3,963 |
| Energy costs | $0.12 kWh[63] | No. 62 | -$0.03 |
The 2nd-cheapest housing market on the East Coast is Bennettsville’s 29512 zip code, where the median home value is $98,108. Renters pay an average of $1,726 per month. It’s the region’s 59th-cheapest rental market.
The median property tax for households within the zip code is $516, which makes it the 8th-cheapest property tax rate on the East Coast.
10. Big Stone Gap, Virginia
The final spot on our list of the most affordable places to live on the East Coast goes to the 24219 zip code in Big Stone Gap.
🔎 Key data about Big Stone Gap
| Data point | Value | Rank (out of 2498 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 82.6 | No. 10 | N/A |
| Median home value | $126,702[64] | No. 2 | -$338,873 |
| Home affordability ratio<span class="tooltip-icon" data-tippy-content="The home affordability ratio is the ratio of the typical median home value divided by the median household income in the zip code, which provides the number of years of household income needed to afford a home in that zip code.“> | 2.2 | No. 1 | -3.1 |
| Home value five-year change | 51%[65] | No. 184 | 2% |
| Home value one-year forecast | 1.6%[66] | No. 219 | 0.2% |
| Rental costs | $2,089[67] | No. 92 | -$26 |
| Rent affordability ratio | 2.02% | No. 74 | -0.4% |
| Median household income | $58,380[68] | No. 205 | -$30,095 |
| Property taxes | $790[69] | No. 5 | -$3,689 |
| Energy costs | $0.09 kWh[70] | No. 242 | -$0.06 |
The 2nd-most affordable housing market on the East Coast is Big Stone Gap’s 24219 zip code. The median home value is $126,702. Rent in the market costs $2,089 per month on average, making it the 92nd-most affordable rental market on the East Coast.
The median property tax for households in Big Stone Gap is $790, which is the 5th-cheapest property tax rate in the region.
Big Stone Gap ranks No. 242 among East Coast markets by energy costs, with households paying $0.09 per kWh of electricity.
How we ranked the most affordable places on the East Coast
We evaluated 2498 zip codes on the East Coast with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a region by zip code.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code’s location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value on the East Coast, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes “listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region.” We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the regional average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the regional average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
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