Niagara Falls, N.Y.
Average listing price: $60,820
Median household income: $33,423
Population (as of 2009): 51,295
Although it’s a bustling tourist destination for visitors hoping to experience majestic waterfalls, Niagara Falls has some of the lowest real estate values in the country, with an average home list price of about $61,000. While unemployment is lower than the national average, a relatively flat economy isn’t creating much demand for housing. Put in perspective, the average four-bedroom, two-bathroom home in Niagara Falls could translate into a monthly mortgage payment of about $260, according to the Coldwell Banker study.