The 25 Best Affordable Places to Live in America

It doesn’t matter if you’re in the top 10 percent or working minimum wage, the cost-of-living crisis is hard to ignore. It’s only normal to think about how to cut back and save some cash right now, which is why moving to a more affordable city has become top of mind for so many of us.

A new study from Kiplinger looked at the Council for Community and Economic Research's (C2ER) calculations of living expenses in 265 urban areas and juxtaposed that with data from the U.S. Census Bureau and the U.S. Bureau of Labor Statistics to find the most affordable places to live in America. 

If you’re thinking about making a move to lighten your financial burden, here are the cheapest places to live in the United States:

• Cost of living: 13.1% below U.S. average
• Metro population: 79,106
• Median household income: $56,666 (U.S.: $74,755)
• Median home value: $218,500 (U.S.: $508,666)
• Unemployment rate: 4.1% (U.S.: 4.3%)

If you’ve dreamt about living in New Orleans but can’t justify the cost of living, Lake Charles might be a good alternative. The city boasts a 13% lower cost of living compared to the national average and is locally known for its Creole and Cajun culture, not unlike its better-known and more expensive counterpart.

• Cost of living: 13.2% below U.S. average
• Metro population: 60,373
• Median household income: $58,272
• Median home value: $223,700
• Unemployment rate: 3.4%

Montana is an outdoor lover’s paradise, and Great Falls is one of the best places in the state for frugal living. Famous national parks like Yellow Stone National Park and Glacier National Park are only a few hours away; however the town still boasts a 13.2% lower cost of living than the national average.

• Cost of living: 13.3% below U.S. average
• Metro population: 51,848
• Median household income: $50,996
• Median home value: $147,000
• Unemployment rate: 4.4%

Joplin, Missouri boasts housing costs that are 33% lower than the national average — but you’ll want to keep in mind that this town is unfortunately a hot spot for tornados. Joplin experienced the costliest single tornado in modern U.S. history back in 2011, and while it has since recovered, natural disaster risk is still top of mind for many.

• Cost of living: 13.4% below U.S. average
• Metro population: 121,367
• Median household income: $50,504
• Median home value: $234,200
• Unemployment rate: 4.2%

Lafayette is the second city in Louisiana to make the list. This city boasts excellent healthcare, aerospace, and banking industries with major companies (think: Amazon, CGI, and JP Morgan Chase) setting up headquarters here.

• Cost of living: 13.7% below U.S. average
• Metro population: 51,227
• Median household income: $59,240
• Median home value: $211,000
• Unemployment rate: 3.4%

Wayne County is close enough to major cities like New York that professionals working from home (but who still have ties to the city) have started moving en masse to this more affordable metropolis. The overall cost of living is 13.7% less than the norm, and housing costs are an impressive 35% less than the national average.

• Cost of living: 13.8% below U.S. average
• Metro population: 125,464
• Median household income: $50,709
• Median home value: $138,900
• Unemployment rate: 3.4%

If you’re looking for a suburban spot that’s family-friendly but still maintains the creature comforts of city living, it could be Topeka. According to Kiplinger, this city boasts a dense suburban feel but still has an impressive amount of parks and green spaces and coffee shops. It also happens to be about 26% cheaper than the norm when it comes to housing.

• Cost of living: 13.9% below U.S. average
• Metro population: 195,871
• Median household income: $52,826
• Median home value: $237,300
• Unemployment rate: 3.4%

Knoxville is the only city in Tennessee to make the list. It was the original capital city before Nashville and as such plays home to some major attractions for homeowners and visitors alike, including the University of Tennessee and the Women’s Basketball Hall of Fame.

• Cost of living: 14.1% below U.S. average
• Metro population: 213,164
• Median household income: $62,378
• Median home value: $170,700
• Unemployment rate: 2.9%

Des Moines is a standout spot for students and young professionals. Not only does it boast a 14.1% lower cost of living than the country’s average but it also has a 2.9% unemployment rate. The city has a very strong economy thanks to its insurance, healthcare, and manufacturing industries, as well as a burgeoning art and culture scene thanks to the fairly large student and artist population.

• Cost of living: 14.8% below U.S. average
• Metro population: 170,062
• Median household income: $45,400
• Median home value: $166,400
• Unemployment rate: 3.8%

Springfield is home to the original and largest Bass Pro Shop which paints the scene for what to expect from this outdoorsy community. It’s packed with stunning hiking and biking trails, including the 140-mile Ozark Greenways, which makes this Missouri town a great spot for frugal-minded outdoors fiends to make a home.

• Cost of living: 14.9% below U.S. average
• Metro population: 411,938
• Median household income: $56,648
• Median home value: $174,200
• Unemployment rate: 3.7%

Tulsa is considered to be the arts and culture capital of Oklahoma — which, when combined with its lower cost of living, makes it an attractive spot for creatives looking to save some cash. It also boasts an impressive aerospace industry, with airlines like Lufthansa and American Airlines setting up shop here.

• Cost of living: 15.2% below U.S. average
• Metro population: 115,788
• Median household income: $52,819
• Median home value: $148,100
• Unemployment rate: 3.2%

Anniston is an excellent option for folks looking for an affordable city that comes with natural splendor and things to do in the great outdoors. Housing is 41% less than the norm while Anniston is just around the corner from the well-loved Mountain Longleaf National Wildlife Refuge.

• Cost of living: 15.3% below U.S. average
• Metro population: 144,585
• Median household income: $55,898
• Median home value: $168,300
• Unemployment rate: 7.0%

McAllen might have a 15.3% lower cost of living than the national average but the city has an unemployment rate of 7% and a poverty rate of 27.6% (the national average is 11%). Still, the cost of housing is 39.5% lower than the norm which might be attractive for folks who work from home.

• Cost of living: 15.3% below U.S. average
• Metro population: 167,889
• Median household income: $65,061
• Median home value: $185,600
• Unemployment rate: 3.4%

The Waterloo/Cedar Falls area boasts 25.5% cheaper housing prices and 18.4% cheaper utilities than the national average. It’s also a great spot for outdoors fiends, with a 67-mile bike and running trail and the 40-acre Cedar Valley Arboretum & Botanic Gardens.

• Cost of living: 16% below U.S. average
• Metro population: 72,883
• Median household income: $43,509
• Median home value: $170,100
• Unemployment rate: 4.7%

Despite the fact that Chicago is less than three hours away, Kalamazoo doesn’t benefit from being next to a major city and financial hub. Unfortunately, 24.9% of residents in Kalamazoo live below the poverty line and to make matters more complicated, Michigan has high property tax rates compared to other states on the list.

• Cost of living: 16.1% below U.S. average
• Metro population: 40,781
• Median household income: $47,048
• Median home value: $168,800
• Unemployment rate: 3.2%

About a two-hour drive from Birmingham, Florence, Alabama boasts cheaper healthcare and housing than the national average, which makes it a good place for young families or retirees to set up shop. It also boasts one of the lowest property tax rates in the country which is great for those looking to buy rather than rent.

• Cost of living: 16.2% below U.S. average
• Metro population: 48,415
• Median household income: $58,902
• Median home value: $172,800
• Unemployment rate: 4.3%

Charleston is an art and culture lover’s paradise — and also happens to be 16.2% less expensive to live in than the national average. For example, here you’ll find incredible ballet, opera, and symphonic orchestras with tickets going for as little as $14 (that’s about 75% less expensive than your average cheap seat in New York).

• Cost of living: 16.2% below U.S. average
• Metro population: 67,616
• Median household income: $61,898
• Median home value: $236,400
• Unemployment rate: 3.4%

Conway is the fastest-growing city in Arkansas with a population increase of just under 3% last year. It’s easy to see why: This city boasts plenty of outdoors and cultural activities, a young population thanks to its major post-secondary institutions, and the housing costs are 25% below the national norm.

• Cost of living: 16.3% below U.S. average
• Metro population: 622,829
• Median household income: $64,581
• Median home value: $217,500
• Unemployment rate: 4.8%

The Augusta-Aiken is an awesome spot for young professionals looking to break into the cybersecurity or public health industry, both of which have a large presence here. Despite the fact that well-paying jobs are quite abundant here, the region still boasts a cost of living that is 16.3% lower than the national average.

• Cost of living: 16.4% below U.S. average
• Metro population: 694,768
• Median household income: $63,713
• Median home value: $227,300
• Unemployment rate: 3.5%

Oklahoma City is the largest city in the state of Oklahoma, boasting approximately 37% cheaper housing (for homeowners and renters alike) compared to the rest of the country. This city is also a standout spot for folks who don’t want to give up city life; with nearly 700,000 residents, you’ll find all kinds of big city attractions, from museums and performance art to major sporting events and great bars and restaurants.

• Cost of living: 16.7% below U.S. average
• Metro population: 79,884
• Median household income: $61,057
• Median home value: $222,200
• Unemployment rate: 3.3%

Jonesboro, Arkansas boasts a 40% cheaper housing cost than the rest of the country as well as plenty of opportunity from big-name employers like Frito-Lay, Unilever, and General Mills. It’s worth noting that Jonesboro is also just a short one-hour drive from Memphis if you’re craving some big-city culture.

• Cost of living: 16.9% below U.S. average
• Metro population: 203,477
• Median household income: $62,260
• Median home value: $193,800
• Unemployment rate: 3.4%

Looking for a city with affordable healthcare and housing? Amarillo boasts around 36% cheaper healthcare and 38% cheaper housing-related costs than the national average, which is hugely attractive for young families and retirees alike. It’s also worth noting that the state has no income tax, which can increase money going into your pocket as well.

• Cost of living: 17.1% below U.S. average
• Metro population: 59,534
• Median household income: $53,967
• Median home value: $118,400
• Unemployment rate: 6.0%

Kokomo in Indiana boasts an overall 17.1% lower cost of living than the U.S. average with housing costs in particular sitting at around 28% below the norm. It’s also worth noting that Indiana will no longer be charging state income tax to military income, which makes Kokomo even more attractive to active members of the military.

• Cost of living: 19.1% below U.S. average
• Metro population: 71,699
• Median household income: $50,166
• Median home value: $123,400
• Unemployment rate: 6.2%

If you’re looking to purchase a home, you’ll want to head to Harlingen, Texas. The cost of your typical property in Harlingen is approximately $137K cheaper than the national average, making it a very attractive spot to snag a great deal on a home.

• Cost of living: 19.1% below U.S. average
• Metro population: 104,302
• Median household income: $50,964
• Median home value: $176,800
• Unemployment rate: 7.0%

The cost of living in Edinburg, Texas, is an incredible 19.1% cheaper than the national average and boasts a diverse industry that ranges from import/export (the Mexico border is just 20 minutes away) to healthcare and education. It’s also worth noting that healthcare in particular is an impressive 20% cheaper than the norm.

• Cost of living: 21.2 below U.S. average

• Metro population: 70,396

• Median household income: $49,714

• Median home value: $92,200

• Unemployment rate: 7.2%

Decatur earns top spot as the cheapest city in the United States with a metro population of at least 50,000. The cost of housing is 47% lower than the national average, and the state of Illinois doesn’t charge tax on retirement income, which makes Decatur even more attractive for older residents.

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