Realtor.com has identified the top 10 locations with the lowest cost of living in the United States. The rankings take into account how much residents pay for housing, as well as expenses like food and gas. Small cities in the South and Midwest dominate the list, with Texas topping the list. Cities take the top spot.
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Inflation in the United States is gradually easing, but many people still don’t feel any appreciable sense of relief.
Since inflation reached a 40-year high in 2022, the prices of daily living expenses (gasoline, food, entertainment, housing, etc.) in the United States have increased significantly. Although prices are starting to calm down, many American households are still struggling with debt, living paycheck to paycheck, or experiencing severe cost burdens, meaning spending more than 30% of their income on housing. You will be spending it.
Although the cost of living varies greatly from state to state and city to city, some places in the United States can provide residents with a comfortable standard of living at an affordable price.
To determine the cities with the lowest cost of living in the United States, Realtor.com’s economic research team uses the latest regional price parities from the Bureau of Economic Analysis for the cost of a variety of items, including food, housing, health care, transportation, and transportation. Analyzed the data. other products and services,
The researchers found that the cities with the lowest cost of living in the United States are primarily small cities in the South and Midwest, including two in Texas and three in Ohio; has strengthened its existing reputation as an affordable place to live.
While lower prices for necessities such as food, clothing, and utilities play an important role in affordability, a key factor is that housing prices have fallen significantly in these small towns.
“Home prices in these areas were more than $100,000 below the national median price in September,” Hannah Jones, senior economic research analyst at Realtor.com, said in a report. The median U.S. home listing price fell 1% from the same month last year to $425,000 in September, the company said.
Below are the 10 U.S. cities with the lowest cost of living.
