Believe it or not — you don't have to sacrifice quality for affordability if you're looking to move in 2023.
A US News & World Report ranking of the cheapest places to live in the US listed several affordable cities — mostly in the South and Midwest — with great schools and urban amenities.
US News & World Report assessed typical incomes, typical housing costs including taxes and utilities, and the percentage of income that goes to the cost of housing to determine the rankings. It also considered the cost of goods and services across the cities.
Rent or mortgage payments are considered affordable when a person limits them to 30% or less of what they make each month, according to Insider's personal finance desk. In each of the cities on the list — including Brownsville, Texas, and Youngstown, Ohio — the costs were even less: residents typically spent less than 25% of their monthly incomes on housing.
No big cities made the cut. In fact, most of these places have a small-town flair with access to parks and hiking trails — outdoorsy lures that have been popular with American movers since the pandemic.
Several spots, such as Fayetteville, Arkansas, and Green Bay, Wisconsin, also topped US News & World Report's list of best places to live in the US. That ranking, also released last week, considered affordability, how many people were moving there, how happy residents were, crime rates, and other quality-of-life indicators.
Here are the typical incomes and costs of housing in US News & World Report's list of the top 15 cheapest places to live.
Population of the metro area: 420,554
Average salary: $39,240
Percent of income spent on living costs: 23.34%
Population of the metro area: 323,681
Average salary: $49,240
Percent of income spent on living costs: 20.94%
Population of the metro area: 538,063
Average salary: $51,590
Percent of income spent on living costs:: 20.44%
Population of the metro area: 918,166
Average salary: $48,350
Percent of income spent on living costs: 21.31%
Population of the metro area: 322,864
Average salary: $47,400
Percent of income spent on living costs: 21.67%
Population of the metro area: 873,816
Average salary: $49,290
Percent of income spent on living costs: 21.13%
Population of the metro area: 384,055
Average salary: $51,240
Percent of income spent on living costs: 20.14%
Population of the metro area: 326,590
Average salary: $51,510
Percent of income spent on living costs: 19.92%
Population of the metro area: 404,226
Average salary: $54,370
Percent of income spent on living costs: 20.62%
Population of the metro area: 397,924
Average salary: $50,750
Percent of income spent on living costs: 20.31%
Population of the metro area: 415,887
Average salary: $50,330
Percent of income spent on living costs: 20.07%
Population of the metro area: 483,366
Average salary: $61,140
Percent of income spent on living costs: 19.62%
Population of the metro area: 361,177
Average salary: $45,520
Percent of income spent on living costs: 20.69%
Population of the metro area: 542,459
Average salary: $45,090
Percent of income spent on living costs: 20.29%
Population of the metro area: 364,877
Average salary: $44,470 per year
Percent of income spent on living costs: 18.95%
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