Fixer-uppers are the new path to homeownership, saving buyers up to 78% in these 10 cities

Spending a small fortune on a home can be daunting for buyers facing affordability challenges, but for those willing to roll up their sleeves and put in the work, a fixer-upper in need of some TLC could be the perfect solution.  

Savvy buyers can secure dramatic discounts by purchasing properties that require renovations, with savings ranging from 56% to nearly 78% in select metros across the South and Midwest, according to the latest research looking into Realtor.com® listing data from July 2025.

“There are many paths to homeownership and financial success in the real estate industry, but for those with the know-how and determination to take on a major project, buying a fixer-upper and putting in the work to make it into a dream home or flipping it for a profit is an especially attractive proposition,” says Realtor.com senior economist Joel Berner.

So what makes a property a fixer-upper? In the report, Realtor.com economists focused on single-family homes that are at least 20 years old and have a listing price per square foot below the median for their ZIP code.

They used common listing description terms such as “good bones,” “needs some love,” and “renovation-ready” to train an AI tool to focus on listings that are being marketed to buyers as fixer-uppers.

By and large, fixer-uppers are budget-friendly. In July, the typical home in this category came with an asking price of just $200,000—over 54% below the median list price of $436,250 for all single-family homes in the U.S.

Here are some facts to keep in mind: The typical fixer-upper dates from 1958. It’s on the smaller side, measuring 1,628 square feet, and features three bedrooms and two baths. 

What metros offer the steepest discounts on fixer-uppers?

Ten metros stood out for offering the greatest savings on fixer-uppers, with Jackson, MS, at the top of the list.

In July, the typical for-sale home in the capital of Mississippi had an asking price of $299,000, while a fixer-upper came with a price tag of just $66,750, representing a staggering 77.7% discount. 

“Fixer-uppers often allow buyers to access desirable neighborhoods without paying turnkey prices,” Alan Philipson, real estate adviser at Compass, tells Realtor.com. “Demand remains strong for renovated properties, so there’s potential for significant appreciation.”

Following Jackson, St. Louis boasted the nation’s second-largest discount on fixer-upper homes this summer. 

While the city’s median list price was $315,000 in July, a for-sale dwelling marketed as a fixer-upper went for $99,900—a 68.3% discount. 

Older homes in need of repairs in Birmingham, AL, and Pittsburgh offered handy buyers savings of over 67%.

In Toledo, OH, the typical fixer-upper comes in at a median list price of $79,975, compared to the overall single-family home median list price of $234,075.

Other Midwestern markets showed a similar trend: Fixer-upper buyers in Detroit and Dayton, OH, spent $185,000 and $162,400 less, respectively, than those purchasing move-in ready homes.

Little Rock, AR (59.7% fixer-upper discount), Wichita, KS (57.9%), and Kansas City, MO (56.4%), rounded out the top 10 metros offering the deepest savings on fixer-uppers.

“Interestingly, all of the markets that offer the highest discount on fixer-uppers have median listing prices for single-family homes that are already below the national median,” notes Berner. “This suggests that the fixer-upper discount is more fixed than it is a percentage of home value.”

Where are fixer-uppers most common?

As of July, there were just over 79,000 fixer-uppers on the nationwide market, making up roughly 5% of all single-family listings. That’s down from 6% four years ago. 

Notably, older homes with good bones in need of some rehabilitation were not spread evenly across the U.S. 

The metros with the highest shares of fixer-uppers were clustered in the Midwest and Northeast, whereas the metros with the sharpest discounts, as we’ve already seen, tended to be in the Midwest and South. 

There was, however, some considerable overlap between the two lists of metros.  

Five of the markets with the biggest savings—Toledo, Jackson, St. Louis, Detroit, and Dayton—also ranked among those with the highest share of listings marketed to shoppers as fixer-uppers.

Syracuse, NY, however, was ahead of the pack, with 11.5% of all the city’s for-sale properties requiring TLC. 

“The ‘Fixer-Upper Five’ are the best of the best in terms of finding ample opportunities for fix-up activity and strong returns on investment for reselling a home closer to the median price for the market,” says Berner, referring to the quintet of markets appearing in both rankings.

The economist adds that the standout markets for fixer-upper sales are those where the supply of homes is tight but demand is high, which is the case in the Midwest and Northeast.

“The older, less expensive homes in these metros become prime candidates for renovation,” says Berner.

But it’s important to remember that not all fixer-uppers are created equal, and that buyers should be realistic about their skills, finances, and availability before signing on the dotted line.

“Look for homes with cosmetic or moderate issues rather than heavy structural problems,” advises Philipson. “For example, homes with outdated finishes, older plumbing or electrical that needs upgrading, or roofing that’s aging but not failing may give you good leverage.”