Realtor.com
Purchasing a fixer-upper can provide significant savings and opportunities for buyers willing to invest time and effort into renovations.
Fixer-uppers come at a substantial discount compared to move-in ready homes, with savings ranging from 56% to nearly 78% in select metros across the South and Midwest, according to recent research by Realtor.com®.
These properties, typically older single-family homes below the median price per square foot in their area, offer budget-friendly options for buyers looking to customize their dream home or flip for profit.
FULL STORY: Fixer-Upper Homes Are Up to 78% Cheaper in These 10 Metros
Key takeaways
- Fixer-uppers offer substantial savings, with discounts of up to 78% in certain metros in the South and Midwest.
- The typical fixer-upper is a single-family home from 1958, with an average size of 1,628 square feet, three bedrooms, and two baths, priced at around $200,000.
- Top metros for fixer-upper discounts include Jackson, MS; St. Louis, MO; Birmingham, AL; Pittsburgh, PA; and Toledo, OH, with discounts exceeding 67%.
- Fixer-uppers are more prevalent in the Midwest and Northeast, accounting for roughly 5% of all single-family listings, with some metros like Syracuse, NY, having 11.5% of properties needing renovation.
- Markets with high demand and low supply, primarily in the Midwest and Northeast, offer prime opportunities for fixer-upper sales, but buyers should assess their renovation skills and financial capabilities before committing.
This summary has been generated with AI tools and edited by Realtor.com News & Insights editors. The full story, written and edited by Realtor.com News & Insights newsroom journalists, is linked at the top of the summary.