10. Barnstable, Mass.
Barnstable, Mass.
Cape Cod has some cozy three bedroom homes for under $340,000.
Median home price: $299,000

Located on Cape Cod, many of the homes in Barnstable are on or near the water, which in itself multiplies a property's value. Some of Barnstable's towns, like Hyannis Port, are known for their luxury estates and large family homes.

Cape Cod grew up as a working community with a large fishing industry, but tourism has provided the lion's share of its economy for decades. It has meant a good living for local residents: Median household income exceeds $75,000.

While home prices have fallen some 30% from the peak, second home buyers have helped the market to recover. Barnstable is especially popular with people from the Boston area because it's just a 90-minute drive from the city and doesn't involve crawling all the way up the peninsula to the Mid- or Outer-Cape towns like Truro or Provincetown in Friday night traffic.

Median home price data is for the first three months of 2011 and was compiled by the National Association of Realtors.
Last updated June 15 2011: 9:34 AM ET
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