Cities With Low Cost of Living

Cities With Low Cost of Living – What City Has The Lowest Cost of Living?

Cities with Low Cost of Living: In this article, we will examine some of the U.S. cities with low costs of living just as well as what makes the cost of living in these cities low. This is to help people or families in need of relocation to make a decision of which city is the most appropriate for their lifestyle.

One of the essential reasons people buy a house is to build wealth. The typical line is “The explanation pay someone else’s home credit and add to their worth (through rent) when you can consume a comparative proportion of money or less and get the advantages?”

In any case, accepting that you’re in a costly locale, that bounty can quickly get eaten up by a home advance that seems as though a tapeworm consistently sucking up resources as your monetary equilibrium contracts. This is what’s coldheartedly suggested as being “house poor.”

 

Cities With Low Cost of Living

If you live in a costly metro, you can disregard the moderate home with an enormous retail cost and move to greener and more affordable fields. In light of everything, more affordable doesn’t actually mean more lamentable.

 

What City Has The Lowest Cost of Living?

 

Below you will observe our top rundown of cities with low cost of living and the states where these cities are located;

 

El Paso, Texas

The second-largest city in the Southwest (after Phoenix, Arizona), El Paso is one of the largest cities in the US and one of the cities with a low cost of living. There’s a first-time homebuyer program to nudge sales, and the weather is sunny: 297 sunny days, on average. It’s close to the stunning Franklin Mountains State Park and Hueco Tanks State Park and Historic Site. Employment prospects here are good: More than 70 Fortune 500 companies have offices here, including AT&T, Raytheon, Verizon, and Wells Fargo.

City population: 679,813
Cost of living score: 56.05
Median home price: $162,696
Average rent: $836

 

Wichita, Kansas

 

Plenty of people is discovering the benefits of living in Wichita since its population numbers have risen nearly 5% since 2010. Though its economy has historically been based on its cattle and grain industries, the industry has expanded to oil and aviation. In fact, its nickname is now “Air Capital of the World,” thanks to companies like Beech, Cessna, Lear, and Boeing. Thirty-three museums around Wichita’s downtown make it a rich cultural center. Keep in mind that Wichita’s climate can be harsh and its schools are rated below average for college prep.

City population: 389,877
Cost of living score: 59.56
Median home price: $157,203
Average rent: $703

 

Lexington, Kentucky

For horse-lovers, there’s no better place than the so-called “Horse Capital of the World,” home to thoroughbred horse farms located in the green hills just outside the metro area. As well as its affordable housing and education, and diverse cuisine (not just great bourbon), the average property tax is .960%, well below the national average of 1.211%. Its income tax is a flat rate of 5%, regardless of income.

City population: 323,152
Cost of living score: 59.85
Median home price: $236,745
Average rent: $976

 

Little Rock, Arkansas

Little Rock continually attracts new residents thanks to its low cost of living but also as the cultural, economic, and government hub of Arkansas. Nature lovers flock to Little Rock for its proximity to the gorgeous hikes, climbs, and boating of Pinnacle Mountain State Park, just outside town, and its close proximity to Memphis, Dallas, and Oklahoma City make it a convenient place to be. Its medical care ranks highest in the state.

City population: 197,958
Cost of living score: 60.88
Median home price: $165,110
Average rent: $861

 

Tulsa, Oklahoma

 

Tulsa sits along the Arkansas River among the beautiful Osage Hills and at the foothills of the Ozark mountains, making it a paradise for those who love to live in close proximity to outdoor activities. It’s home to a diverse group of industries, from finance to aviation, technology, and telecommunications, and has a historically healthy job market. Lots of jogging trails and museums, plus restaurants and zoos make it a very livable city. You’ll need to be prepared for some trade-offs, though: Tulsa has a high crime rate and higher-than-average sales and state income taxes.

City population: 402,324
Cost of living score: 60.96
Median home price: $150,067
Average rent: $760

 

Memphis, Tennessee

Memphis sits right on the Mississippi River, and considering all the things it’s famous for incredible music, barbeque, shockingly one of U.S. cities With low cost of living. Memphis is a very easy place to love. Three Fortune 500 companies like FedEx, International Paper, and AutoZone, have their headquarters here, and there’s easy access to beautiful parks, trails, forests, and rivers. Keep in mind, though, that the sales tax rate of 9.25% is one of the highest in the country, although Tennessee doesn’t charge a state income tax. For those who telecommute, it’s an especially great deal: Memphis has a low median income, with residents earning 35% less than the average American.

City population: 651,932
Cost of living score: 62.76
Median home price: $120,260
Average rent: $760

 

Knoxville, Tennessee

Combine small-town charm in a town surrounded by the majestic Appalachian Mountains with affordable homes, great food, and a stable economy that’s a center for retail trade, healthcare, and educational services, and you get a  very livable city. It’s the gateway to the Great Smoky Mountains; the Tennessee River runs through downtown, and it is the home of the University of Tennessee and the Women’s Basketball Hall of Fame. Those devoted to US history will be interested in the great number of nearby Civil War battlefield sites since the city was a strategic stronghold.

City population: 186,173
Cost of living score: 62.90
Median home price: $250,248
Average rent: $1,167

 

Austin, Texas

If it seems like there’s been a mass migration to this capital city lately, you’re not wrong. In addition to its beautiful weather, one of the cities with a low cost of living, and unique culture, it’s also an industrial powerhouse. The international defense, aerospace, and security company BAE Systems has been headquartered here for 65 years, and thanks to incentives, companies like Samsung, Apple, and Tesla are flocking here as well, making it a great place for job-seekers. It has ranked No. 1 on U.S. News’ Best Places to Live for good reason: the third-largest city in the US, it has a mild climate (that gets hot and humid in the summer); a downtown that surrounds the picturesque Lady Bird Lake, and a blazing-hot restaurant scene.

City population: 950,807
Cost of living score: 62.99
Median home price: $540,086
Average rent: $1,431

 

Boise, Idaho

One of America’s cities with low cost of living and is also one of its fastest-growing, experiencing a population boom of 8.2 percent between 2010 and 2018. Tech companies have exited Silicon Valley in favor of the incentives and low cost of living of the Boise area, and the Boise School District is one of the nation’s top-performing districts. Those who love nature, though, may love Boise the best. It’s within driving distance of multiple ski resorts, and with Boise State University nearby, it can feel like a college ski town.

City population: 226,115
Cost of living score: 63.06
Median home price: $456,406
Average rent: $1,370

 

Akron, Ohio

In the last year, data compiled by U-Haul International show that Ohio was the No. 4 growth state in the nation, with more people moving to Akron than leaving it. That might be due to its scenic landscapes (it’s right on the edge of the Cuyahoga Valley National Park), or the fact that healthcare here is 16% lower than the national average, as are the costs of goods and services. It’s a center of manufacturing, education, healthcare, and biomedical research, making it a good place for job-seekers.

City population: 198,051
Cost of living score: 63.11
Median home price: $89.086
Average rent: $866

 

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CONCLUSION

To wrap things up, there are many cities with low costs of living out there in the U.S. but based on our research we will be able to come up with these cities. Nevertheless, if none of these cities is best suited for your lifestyle always feel free to make more extensive research till you find your dream city, as we all know, nothing is set in stone.

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