There has been a growing trend of people getting fed up with the rising cost of rent and housing expenses. Prices are getting so expensive that many individuals are leaving their hometowns for cheaper frontiers.
Where are they going? Well, U.S. News released a report listing the cities with the lowest housing costs and cost of living compared to median salaries. If you are trying to free yourself of giving away most of your paycheck for an apartment, consider some of these cities that are growing in popularity.
1. Montgomery, Alabama
Montgomery is one of the most culturally rich cities in the United States. Known as the birth of the Civil Rights Movement, the city is quickly becoming one of the most popular areas of the South. Typical housing costs in Montgomery require 23.3% of the area’s median household income.
Living in Montgomery, you won’t be bored. It has many parks, zoos, museums, memorials, and landmarks. It also has an excellent food and bar scene and a passion for college football.
2. Pittsburgh, PA
Pittsburgh, Pennsylvania, offers a blend of bustling big-city life with neighborhoods that feel like small towns. With a population of 2.3 million and an average salary of $50,000, residents still spend only 20.1% of their income on living expenses. That leaves 80% of the resident’s income for retirement funds and exploring the wonderful city with 3 major sports teams, zoos, aquariums, museums, and a vibrant food and restaurant scene.
3. Tulsa, Oklahoma
Tulsa has been growing over the years, and with a metro population of over 1 million, it is slowly catching up to Oklahoma City, the capital city. Tulsa residents save a fortune by spending only 21.7% of their salaries on housing expenses.
The city was once known as the “Oil Capital of the World,” leaving it with a rich history of various cultures. With many man-made lakes, a lively art scene, and local college teams to cheer for, many people are feeling the charm of Tulsa.
4. Toledo, Ohio
Sitting beautifully on Lake Erie’s Maumee Bay, next to the Michigan border, Toledo has seen a rise in population due to major companies calling it home. General Motors and Mercy Health Hospitals are just some of the industries offering jobs for the residents of this midwestern town.
With a population of over 600,000, the average income is $50,000, yet only 21.7% of this goes towards housing costs. The city is a great place to raise a family, and it has many outdoor activities, museums, water sports, and local colleges.
5. Chattanooga, Tennessee
In the foothills of the Appalachian Mountains, Chattanooga, Tennessee, has some of the most picturesque mountain views and scenic landscapes. Centrally located between Nashville and Atlanta, it is a growing city due to its affordable cost of living. Only 21.68% of the average $49,000 salary goes towards rent or mortgage.
Residents boast about their city due to its walkable downtown, abundance of outdoor activities, and world-class Southern hospitality.
6. Winston-Salem, North Carolina
Many other cities in North Carolina have seen a rise in new residents looking for a frugal place to live. Cities like Raliegh, Durham, and Charlotte have all been exposed, but Winston-Salem is a secret gem in the Rar Heel State. With a metro population pushing 700k, the average amount spent on living expenses is 21.73%.
If the state’s reasonable prices don’t win you over, the natural beauty of the Smoky Mountains to the West and the Outer Banks to the East are sure to change your mind.
7. Brownsville, Texas
This charming town on the southern tip of Texas near the Gulf of Mexico has a unique blend of Mexican-American culture. The subtropical climate, classic Border Brick-designed architecture, and access to the Gulf of Mexico make for an ideal quality of life. Even better is the low cost of rent or home prices. Annual salaries may be low, but with a median rate of $49,000, residents can stretch their money by only spending 23.34% on housing costs.
8. South Bend, Indiana
South Bend sits just south of the Michigan border, with easy access to Lake Michigan and the big city of Chicago, Illinois. The city is famous for being home to Notre Dame, one of the country’s oldest and most prestigious Universities.
It also has one of the lowest income-to-housing expense ratios. Residents can save money on rent and more on Notre Dame football tickets because they only spend 20.1% on home costs.
9. Greenville, South Carolina
Greenville benefits from living in the shadows of the gorgeous Blue Ridge Mountains. The city has a lively river walk through the vibrant downtown filled with shops, restaurants, and local breweries. Residents enjoy the mild climate, easy access to the mountains just north, and close to major colleges like Clemson. The average citizen only uses 21.31% of their income on rent or mortgages. It’s no wonder that families and young men and women flock to Greenville, SC.
10. Spartanburg, South Carolina
Just a quick drive northeast for Greenville, and you will find yourself in another fantastically cheap city to call home. Spartanburg, South Carolina, rivals its nearby city, with residents spending 21.67% of their salaries on housing expenses. If you are looking for a town with a genuine small-town feel, Spartanburg is the place to be. Locals brag about their friendliness, laid-back attitude, and community-oriented mindset.
11. Knoxville, Tennessee
Another city in the Volunteer State makes the list of places to live on a budget. Knoxville has many luxuries of the bigger, more famous neighboring town of Nashville, but way more affordable. Knoxville has an average salary of $49,000, yet only 21.13% of that will go towards keeping a roof over your head. That leaves plenty of extra income to enjoy Knoxville’s live music scene, delicious BBQ, craft breweries, and University of Tennessee football tickets.
12. Peoria, Illinois
Located in central Illinois, Peoria still feels like you are in a suburb of Chicago. Set on the Illinois River, the city has big-city features like botanical gardens, parks, zoos, and museums. Chicago is close enough if you want a taste of an energetic city but far enough away for some peace and quiet. Plus, you avoid the high cost of living. Peoria residents only need 20.62% of their daily wages to pay for housing.
13. Huntsville, Alabama
The northern Alabama town of Huntsville is one of the cheapest places to rent or buy a home in the United States. It also has one of the highest average salaries in the nation. At $61,000 a year, residents of the town save a ton of money due to only needing 19% of it on housing payments.
Huntsville has many parks and outdoor areas, museums, lakes, and delicious southern comfort food like BBQ and Mexican and Creole cuisine.
14. Youngstown, Ohio
Youngtown is smack in the middle of larger cities such as Pittsburgh and Cleveland. Residents can visit the bigger cities while retreating back to their affordable little town with all the money they have saved on the cost of living.
Locals of Youngtown can expect to spend an average of %20 of their paychecks to cover housing expenditures. If you add in the fact that the city’s average house costs $137,000, this makes it an ideal city to save money and live on a tight budget.
15. Hickory, North Carolina
The little town of Hickory, North Carolina, holds the title of the smallest percentage of salary needed for home payments. Only 18.95% of the residents salaries go towards rental or mortgage fees.
Nestled between Asheville and Charlotte, Hickory has been slowly expanding over the years. The small-town feel is appealing to many couples looking to start a family. Look for Hickory to continue to grow over the next decade.
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Source: U.S. News.
