Do you want to know about the cheapest places to live in the US? There is a wide range of options when it comes deciding, where to live in the USA. Some people prefer to stay close to where they grew up, others may venture further away to find affordability.
There are other factors like climate, cost of living and job opportunities. Some other things which weigh into finding the cheapest places to live also include the local economy in general, property taxes and general living expenses, as well as the crime rate. Just have a glance at this article to know more about these places.
10. Fayetteville, Arkansas
Fayetteville is the third largest city in the state and Home of the University of Arkansas. The college town of Fayetteville has been listed as one of the best place to live by the Council for Community and Economic Researh. Forbes also rated it as one of the “Best Places for Business and Careers”.
Walmart’s headquarters is nearby and the superstore giant is a major player in the local economy. The low property taxes, averaging amount $3000 per year, also contribute to the lower cost. The average home price is $228,200 and the average rent of two-bedroom apartment is under $600.
The overall cost of living is 15.4% less than the rest of the country. U.S. News and World Report ranked in the third “Best Place to Live” and one of the “Best Place to retire” in the year 2016.
9. Harlingen, Texas
Harlingen is located in the Rio Grande Valley about 30 miles from the coast. The population is almost 75000 and the cost of living is 18.4% less than the national average. The average home cost is $229,558 and the median income is $34,096 while the home property tax is $3500 per year.
Unfortunately, the low cost comes with another set of problems. Harlingen has a higher poverty rate than the state or national average.
8. Memphis, Tennessee
Memphis is the largest city of Tennessee, it is basically famous for the music scene and its impact on blues music. Additionally, it is famous for being the city where many musicians got their start, including Elvis, Aretha Franklin and Robert Johnson, whose music have influenced many aspiring blues players for decades.
The Council for Community and Economic Research has ranked it on the list of “Top ten most Affordable Places to Live”. The cost of living is 14.6 percent below the national average, and this is particularly notable in such large city. The average household cost is $180,375 and the median income is $36,817.
Since it is near the Mississippi River, Memphis is a hub for shipping and transportation. Once the metro area with the highest poverty rate, that number is now declining.
7. McAllen, Texas
McAllen has made the Council for Community and Economic Research list several times as one of the cheapest place to live in the US. It is located in the Rio Grande river across Reynosa, a Mexican city. It has 16.2% cheaper cost of living than the national average, with the average home cost of $178000. A 2BHK apartment rents for an average of just over $700.
The average household income is $33,641 but unfortunately there is a poverty in the metro area. Health is also another major problem in McAllen as it is found as most obese cities in the 2012 survey. The population of the metro area is 7,74,769. The property tax is somewhat lower in this area, which is only $5000 annually.
6. Pueblo, Colorado
About 100miles from Denver, Pueblo is a major steel producer and biggest scrap steel recycler in Colorado. After the recession in early 1980’s, the city focuses on redevelopment and bringing additional business and manufacturing opportunities like retail and technology services.
It is the primary city in the state for solar energy development. The cost of living is 16.6% below the average. The median household income is around $35176 and the median home price is $116700 with the property tax of $1000/year.
5. Louisville, Kentucky
Louisville is considered as one of the most affordable big city to live in the US. The medium home price cost around $1,31,750 and the median salary is $42,000. The residence spends 29.99% of their salary in living expenses. In the year 2016, residence saw a reduction in property taxes.
The cost of living is around 8% below the national average. The city is home to university of Louisville and three Fortune 500 companies.
4. Norman, Oklahoma
Next on our list of top ten cheapest places to live in the USA is Norman, Oklahoma. The Council for community and research found the cost of living is 16.2% cheaper than the national average.
The overall population of this city is 1,15,562 and the average income is $48,248 which is $2500 more than the Oklahoma city. The median home price is around $1,49,900. Additionally, the university of Oklahoma employees around 10,000 residences.
3. Idaho Falls, Idaho
Idaho Falls is a regional hub for business, travel and healthcare. It is also the headquarters for the United Potato growers of Idaho. The cost of living is 14.4% below than the national average.
The median household income is $52,596 and the median home price is $23,500.In the year 2016, Forbes included this city in various list like best places for business and career, best place for raising kids.
2. Des Moines, Iowa
Des Moines is the most populated city of the state as 600,000 people living in the metro area. This city plays a major role in politics as it is the site of the candidate headquarters. The city is a hub of financial, insurance and publishing industries.
Facebook and Microsoft have also established their facilities in the area. The median home price is $1,69,550, while the average household income is $46,600. About 26.5% of the household salary goes in cost of living. However, Forbes and NBC ranked it as the wealthiest city in America.
1. Tulsa, Oklahoma
First position on our list of cheapest places to live in the US is grabbed by none other than Tulsa city in Northeast Oklahoma. The median home price is $1,45,900, while the average household income is $42,710. About 28.41% of the household salary goes in cost of living.
Oil and gas companies play a major role in the economy. It is also the hub for aerospace, technology and finance industries. For culture fans, Tulsa has two art museums, Opera, ballet and several other buildings build in the art Deco style of architecture.