Locations
The 10 Most Affordable Cities in the U.S.
Alcove Team · 12/3/21
Living in a big city in the US such as New York and San Francisco will break the bank. Fortunately, the most affordable cities in the US won’t.
If you have been wondering where to move so you can save money, this article outlines the 10 most affordable cities in the US.
10 Most Affordable Cities in the United States
Here are the most affordable cities in the United States based on the latest data released by the US Census Bureau:
1. El Paso, Texas
This Texas city is one of the biggest cities in the US with the lowest living cost.
Also the second-largest city in the Southwest, El Paso boasts a homebuyer program and sunny weather (297 sunny days on average).
Quick Facts About El Paso
Average Rent: $836
Average Home Price: $162,696
Average Monthly Net Salary: $2,824
Average Monthly Cost of Utilities: $191.36
Gasoline Cost (One Liter): $0.60
Cost of Living Index: 56.0
2. Wichita, Kansas
Wichita’s economy had been based on grain and cattle industries.
However, as the largest city in Kansas, Wichita’s economy has expanded to aviation and oil. This raised Wichita’s average monthly salary while maintaining a low living cost.
Quick Facts About Wichita
Average Rent: $703
Average Home Price: $157,203
Average Monthly Net Salary: $3,018.54
Average Monthly Cost of Utilities: $205.71
Gasoline Cost (One Liter): $0.58
Cost of Living Index: 58.51
3. Little Rock, Arkansas
This quaint city not only attracts residents because of its low cost of living. Little Rock’s cultural, economic, and government prowess also entices people to move in.
Plus, you can see a ton of affordable housing in Arkansas― one of the biggest contributing factors to its low living cost index.
Quick Facts About Little Rock
Average Rent: $861
Average Home Price: $165,110
Average Monthly Net Salary: $3,324.55
Average Monthly Cost of Utilities: $166.16
Gasoline Cost (One Liter): $0.55
Cost of Living Index: 59.28
4. Akron, Ohio
Interestingly, more people move to than leave Akron.
This can be credited to many factors including Akron’s breathtaking landscapes and low healthcare cost (16% lower than the national average).
Quick Facts About Akron
Average Rent: $866
Average Home Price: $125,000
Average Monthly Net Salary: $2,672
Average Monthly Cost of Utilities: $165
Gasoline Cost (One Liter): $0.64
Cost of Living Index: 60.61
5. Tulsa, Oklahoma
Home to a diverse pool of industries including telecommunications, finance, and aviation, Tulsa features a healthy labor market.
Despite its thriving job market, Tulsa’s housing cost is surprisingly low. So, if you want your career to thrive while keeping a low housing expense, you must consider living in Tulsa.
Quick Facts About Tulsa
Average Rent: $760
Average Home Price: $150,067
Average Monthly Net Salary: $3,656.35
Average Monthly Cost of Utilities: $193.40
Gasoline Cost (One Liter): $0.59
Cost of Living Index: 62.15
6. Lexington, Kentucky
The horse capital of the world, Lexington boasts thoroughbred horse farms along the green hills outside the metro area.
Thanks to its affordable housing and education, Lexington became one of the most affordable cities in the US. On top of that, the city features diverse cuisine that will make your taste buds dance.
Quick Facts About Lexington
Average Rent: $976
Average Home Price: $236,745
Average Monthly Net Salary: $2,720.08
Average Monthly Cost of Utilities: $165.30
Gasoline Cost (One Liter): $0.57
Cost of Living Index: 62.19
7. Memphis, Tennessee
Sitting on the Mississippi River, Memphis is known for its incredible barbecue, music, and museums. That’s why it’s shocking how Memphis became one of the most affordable cities in the US.
Statistics aside, living in Memphis can be a breeze even if you splurge every now and then.
Quick Facts About Memphis
Average Rent: $760
Average Home Price: $120,260
Average Monthly Net Salary: $3,062
Average Monthly Cost of Utilities: $178.49
Gasoline Cost (One Liter): $0.56
Cost of Living Index: 62.30
8. Indianapolis, Indiana
This thriving Midwestern city has plenty to offer, with its location being the most notable.
Located near the geographical center of Indiana, Indianapolis features a transportation hub within three to four hours of many major cities. This makes Indianapolis ideal for residents who go on a lot of business trips, including travel nurses.
Quick Facts About Indianapolis
Average Rent: $902
Average Home Price: $139,200
Average Monthly Net Salary: $4,062.62
Average Monthly Cost of Utilities: $164.75
Gasoline Cost (One Liter): $0.65
Cost of Living Index: 64.98
9. Columbus, Ohio
Relative to major cities in Ohio, Columbus has the most educated populace and the strongest economy. This can be mainly attributed to the Ohio State University, one of the US’ biggest and best public universities.
Plus, Columbus is the state’s political capital and center of its thriving knowledge economy.
Quick Facts About Columbus
Average Rent: $959
Average Home Price: $180,611
Average Monthly Net Salary: $4,684.02
Average Monthly Cost of Utilities: $194.85
Gasoline Cost (One Liter): $0.70
Cost of Living Index: 69.88
10. Omaha, Nebraska
Omaha may be home to Warren Buffett’s Berkshire Hathaway conglomerate ― one of the richest and most successful companies on the planet―, but its living cost index remains low.
Plus, any city that is home to one of the richest people on Earth is likely a great place to live in.
Quick Facts About Omaha
Average Rent: $920
Average Home Price: $209,443
Average Monthly Net Salary: $3,412.96
Average Monthly Cost of Utilities: $195.97
Gasoline Cost (One Liter): $0.58
Cost of Living Index: 74.33
Conclusion
Plenty of people have unlocked the key to happy yet not-breaking-the-bank living. One of the major things they do? Move to a city with low living costs.
By living in one of the most affordable cities in the US, you don’t have to live from paycheck to paycheck.