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Top Ten US Cities with the Cheapest Cost of Living

If you are looking to move somewhere more affordable then this list is for you. Quality of life, modern amenities, and close proximity to large cities doesn’t necessarily have to break the bank.

10

Springfield, Missouri

Cost of Living Index: 87

Average Home Price: $222,830

Springfield is the third largest city in the state of Missouri. Food prices are well below average, as are utility costs, and other everyday expenses. A short drive to the south you will find the resort town of Branson.

9

Austin, Texas

Cost of Living Index: 87

Average Home Price: $229,145

Despite a very high average income, coming in just slightly below Los Angeles, Austin is very affordable. Housing, transportation, and food costs are very low compared to the national average. On top of that, just like all Texas residents, they are not subject to state income taxes.

8

Fayetteville, Arkansas

Cost of Living Index: 87

Average Home Price: $227,723

Home to the University of Arkansas, residents enjoy some of the lowest health care expenses in the nation and low rent and housing costs. The average rent for an apartment in Fayetteville is a mere $584 pr month.

7

Waco, Texas

Cost of Living Index: 86

Average Home Price: $240,543

Waco, Texas is conveniently situated halfway between Dallas and Austin. About 20 percent of the population of Waco is college educated. Additionally a number of multinational companies call Waco home. Property prices and rental costs are about the national average, however, day-to-day expenses such as food and other consumer goods remains very low.

6

Springfield, Illinois

Cost of Living Index: 86

Average Home Price: $206,509

The second Springfield on this list is located about three-and-a-half hours from Chicago. In addition to being the state’s capital, Springfield offers a very affordable cost of living. The average rent in Springfield for an apartment is just $556 per month.

5

Sherman, Texas

Cost of Living Index: 86

Average Home Price: $213,485

Sherman is located about 60 miles north of Dallas. The population of Sherman is only 117,913 as of the last census, making it the smallest city on the list of the top ten cities with the cheapest cost of living. Sherman is an ideal place for someone looking to living in a smaller affordable town. Sherman offers one of the highest average incomes on this list due to its vibrant health care industry. Both food and utility costs come in well below the national average.

4

Fort Smith, Arkansas

Cost of Living Index: 85

Average Home Price: $235,186

Forth Smith is a beautiful community nestled in a bend of the Arkansas River located right on the border of Arkansas and Oklahoma. The low prices of groceries, utilities, and consumer goods make Fort Smith a very budget-friendly place.

3

Fort Hood, Texas

Cost of Living Index: 84.8

Average Home Price: $210,383

Fort Hood is a quickly growing city located about 60 miles north of Austin. The local economy thrives from the presence of a major US Army Base. It is no surprise that as result nearly 15 percent of the population is between 25 years-old and 34 years-old. The average rent is a very affordable $596 per month.

2

Pueblo, Colorado

Cost of Living Index: 84.1

Average Home Price: $194,302

Pueblo is a city located about 100 miles south of the major Denver metropolitan area. It is a lively community and is quickly growing. It also features the lowest average home price on this list. This combined with pretty decent wages, makes Pueblo a desirable place to live. Recently a major renovation of the downtown area took place, which includes a 32-acre urban waterfront on the Arkansas River that features a number of shops, restaurants, and open spaces.

1

Brownsville, Texas

Cost of Living Index: 80

Average Home Price: $209,177

Brownsville, Texas is a city of 383,000 people situated on Southwest corner of the state, snugged right up against the Mexico border. Despite the relatively low wages, compared to some other cities on the list, the extraordinarily low price of groceries and consumer goods more than makes up for it.

 

Source: Kiplinger