By: Joelle Andersen, TOMO

Tomo, a real estate and mortgage company, was curious about where the cheap real estate finds are in New York State. It’s not easy to find an undervalued home since finding cheap homes for sale in New York can be challenging due to the state’s diverse real estate market and varying property prices based on location. However, if interested in putting in some time and sweat equity into a home, then there are many homes available that require cosmetic updates or minor repairs and can often be purchased at a lower price. Look for properties that have been on the market for a while or are listed as “fixer-uppers” or “handyman specials.” Explore Foreclosure Actions, homes sold at auction or foreclosed properties can sometimes be purchased below market prices. Be cautious though, as these homes require more research and inspections, but once again, be willing to put in some work and money into these type of homes. 

There are undervalued gems across the state, some in more parts of the state than others. Here are some cities where Tomo has found cheap real estate. 

Cheap finds in Upstate New York: 

• Buffalo, New York, epitomizes a dynamic blend of historical significance, architectural grandeur, and modern vitality. Nestled on the eastern shores of Lake Erie, Buffalo’s rich heritage as a key Great Lakes port and industrial hub is reflected in its impressive array of historic buildings, including masterpieces by renowned architects like Frank Lloyd Wright. Today, the city thrives with a diverse economy encompassing healthcare, education, technology, and finance, complemented by a vibrant cultural scene. From world-class museums and theaters to lively sports fandoms for the Buffalo Bills and Sabres, Buffalo offers an enriching urban experience against the backdrop of its revitalized waterfront and eclectic neighborhoods, making it a compelling destination for residents and visitors alike. Find cheap homes in Buffalo, NY.

• Rochester, New York, captivates with its unique blend of innovation, culture, and scenic beauty. Located in the Finger Lakes region, Rochester boasts a rich history as a hub of industry and invention, famously home to companies like Eastman Kodak and Xerox. This legacy of innovation is celebrated at the Strong Museum of Play and the George Eastman Museum, honoring Rochester’s contributions to photography and technology. The city’s cultural scene thrives with theaters, galleries, and music venues, while its picturesque surroundings offer outdoor adventures along Lake Ontario and the Genesee River. Rochester’s welcoming communities, renowned universities like the University of Rochester and Rochester Institute of Technology, and vibrant festivals such as the Lilac Festival. Find cheap homes in Rochester, NY.

• Syracuse, New York, nestled in the heart of Central New York, offers a compelling blend of history, education, and cultural vibrancy. Known for its pivotal role in American industry and innovation, Syracuse boasts a rich heritage dating back to its founding in the early 19th century. The city’s industrial past is reflected in its striking architecture, including notable landmarks like the historic Armory Square district and the iconic Carrier Dome at Syracuse University, a hub of academic excellence and spirited sports traditions. Syracuse’s cultural landscape is diverse and dynamic, with museums, theaters, and annual festivals celebrating art, music, and culinary delights. Surrounded by picturesque landscapes and the serene waters of Onondaga Lake, Syracuse continues to charm residents and visitors alike with its blend of historic charm, academic prowess, and vibrant community spirit. Find cheap homes in Syracuse, NY. 

Not interested in moving to upstate New York? Check out these cities in Westchester, County, outside of New York City, where cheap homes are listed.

• White Plains, New York, epitomizes suburban charm with a vibrant urban twist. White Plains offers a blend of residential tranquility and bustling city life. It also prides itself on its strong sense of community and quality of life, offering residents access to excellent schools, parks, and recreational facilities. The city hosts numerous events and festivals throughout the year, including the annual White Plains Jazz Fest and outdoor concerts at Tibbetts Brook Park. Find cheap homes for sale in White Plains, NY.

• Yonkers, New York, stands as a vibrant city rich in history, diversity, and scenic beauty. Situated along the majestic Hudson River, Yonkers offers a unique blend of urban excitement and suburban tranquility just north of New York City. Founded in the 17th century, Yonkers has grown into the fourth most populous city in New York State, known for its historic architecture, cultural diversity, and dynamic neighborhoods. The city’s waterfront along the Hudson River provides stunning views and recreational opportunities, including parks, trails, and waterfront dining. Find cheap homes for sale in Yonkers, NY.

• Ossining, New York, nestled along the picturesque Hudson River Ossining offers a blend of historical charm, scenic beauty, and vibrant community life. Founded in the early 19th century, Ossining boasts a rich history that includes landmarks such as the Sing Sing Correctional Facility, now known as the Ossining Correctional Facility, and the historic downtown area with its quaint shops, restaurants, and cultural venues. Find cheap homes for sale in Ossining, NY.

• Mount Vernon, New York, a vibrant city, is steeped in history and pulsating with urban energy. Nestled just north of the Bronx, it boasts a rich cultural tapestry and a dynamic community spirit. From its tree-lined streets to its diverse neighborhoods, Mount Vernon offers a blend of residential charm and commercial vitality. Historical landmarks like St. Paul’s Church National Historic Site and the Thomas Paine Cottage Museum speak to its deep roots in American history. Find cheap homes for sale in Mount Vernon, NY.

Finding affordable homes in New York requires patience, diligence, and possibly some creativity in your search approach. Researching different neighborhoods and exploring various types of properties can help you find a home that fits your budget and needs.

Published by: Holy Minoza