The U.S. government is currently listing 2,074 homes acquired through defaulted mortgages, with a significant portion available for under $100,000. As of July 7, 2026, 335 homes were listed below this price point across 38 states, including 77 properties under $50,000 and 15 under $25,000. These properties, owned by HUD, Fannie Mae, and Freddie Mac, are often concentrated in Rust Belt and rural Southern areas where foreclosed home values are low.

Buyers should anticipate these homes being sold "as-is," with the cheapest options potentially requiring complete gut renovations. Potential buyers must factor in costs for significant repairs like roofing and HVAC systems, and conduct thorough title searches to identify any outstanding liens or back taxes. Inspections may prove challenging, as many properties are vacant with utilities shut off.

Acquiring these properties involves working through a licensed real estate agent, with owner-occupants often receiving priority bidding windows over investors. While traditional financing is difficult for the lowest-priced homes, FHA 203(k) rehab loans may be an option for slightly more expensive properties. The listed prices serve as asking prices, and buyers should verify property condition, occupancy, and title status before making an offer.