Venice Illinois Tops Affordable Housing List Nationwide

VENICE, IL. - Venice, Illinois, ranks as the most affordable city in the nation to buy a home in MoneyLion’s 2026 analysis of the cheapest places to purchase a home in every state, according to a new research study released by the financial services company.

MoneyLion said it analyzed data from Zillow and the U.S. Census to identify the least-expensive qualifying city in each state, pairing average home values with local household incomes and benchmarking results against what it described as a national single-family average of roughly $357,000.

In Venice, located in the southwest corner of Madison County across the Mississippi River from St. Louis, MoneyLion reported an average home value of $31,568. The company said that figure is about 91% below its national single-family overall of roughly $357,000 and is “the lowest in the nation among all 50 state winners.”

MoneyLion also reported Venice’s median household income as $34,609, calling the community the “#1 affordability outlier” in its 50-state set.

Venice’s population was 1,498 in the 2020 census, down from 1,890 in 2010. Route 3 passes through the west side of the village, and it is bordered to the north by Madison and the City of Brooklyn.

Separately, Dr. Ed Hightower is leading an economic revitalization effort in Venice that includes plans for new, high-quality, affordable housing as part of a multi-phase development. The initiative aims to rebuild the community with 40 new affordable homes, a child-care center, and a career training center, which will be a huge boost to Venice.

The second phase includes 40 new, energy-efficient, affordable homes planned to be built just southwest of downtown Venice, with a target completion by the end of 2026, following the initial construction of a new grocery store as part of the first phase.

The projects are supported by state grants and private investment, including efforts to secure tax credits from the Illinois Housing Development Authority. Additional projects cited include a newly built school that has opened and a new grocery store.

Hightower, a former school superintendent for Edwardsville School District 7, is leading the effort to provide “quality, dignified housing options for residents.”

In November 2025, Illinois Gov. JB Pritzker and Dr. Hightower joined the Illinois Department of Commerce and Economic Opportunity (DCEO) and regional leaders to break ground on a new grocery store in Venice, part of the Illinois Grocery Initiative aimed at expanding access to fresh and affordable food in underserved communities.

The Venice grocery store project, supported by a $2.4 million state grant and private funding, marks a significant step toward revitalizing Venice, a city currently classified as a food desert.

MoneyLion provided a link to what it described as the full breakdown of the research:https://www.moneylion.com/trending/money/the-cheapest-place-to-buy-a-home-in-every-state-in-2026.

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