35 Surprising Cities With Low Costs of Living | marketrealtime.com


Isabella  Hilligoss / Getty Images/iStockphoto

Isabella Hilligoss / Getty Images/iStockphoto

No matter what your income level, most Americans have felt the impact of recent high inflation on the costs of goods and services you regularly buy. However, if you’re struggling to make ends meet, where you live can also play a part. It can be tough to stretch even a big paycheck far enough to pay for necessities and have money left over for savings — and a little fun — if you’re in a place where the cost of living is high. So, it might be time to move to a place that’s more affordable.

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In order to help you pinpoint the cheapest places to live, GOBankingRates compared living expenses in 150 of the largest U.S. cities to find the top 35 cities to find out where you can live comfortably. The 50/30/20 budgeting rule was used as a guideline, in which 50% of income covers necessities, 30% covers discretionary items and 20% is for savings. For necessities, the cost of rent, groceries, utilities, transportation and healthcare were used. Then, GOBankingRates doubled the cost of necessities to get the total income needed.

Keep reading to see how much money you need to live comfortably in these U.S. cities.

DenisTangneyJr / Getty Images/iStockphoto

DenisTangneyJr / Getty Images/iStockphoto

35. Aurora, Illinois
Total annual cost of living: $29,154.56
Annual income needed: $58,309.13
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SeanPavonePhoto / Getty Images/iStockphoto

SeanPavonePhoto / Getty Images/iStockphoto

34. Chattanooga, Tennessee
Total annual cost of living: $29,110.77
Annual income needed: $58,221.54

Tory Garcia / Getty Images/iStockphoto

Tory Garcia / Getty Images/iStockphoto

33. Kansas City, Missouri
Total annual cost of living: $28,873.02
Annual income needed: $57,746.05

Long_Strange_Trip_01 / Getty Images/iStockphoto

Long_Strange_Trip_01 / Getty Images/iStockphoto

32. Columbus, Ohio
Total annual cost of living: $28,866.75
Annual income needed: $57,733.49

benedek / Getty Images/iStockphoto

benedek / Getty Images/iStockphoto

31. Cincinnati, Ohio
Total annual cost of living: $28,558.75
Annual income needed: $57,117.50

Shutterstock.com

Shutterstock.com

30. Corpus Christi, Texas
Total annual cost of living: $27,983.98
Annual income needed: $55,967.97

Sean Pavone / Shutterstock.com

Sean Pavone / Shutterstock.com

29. Oklahoma City
Total annual cost of living: $27,801.17
Annual income needed: $55,602.34

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

28. Indianapolis
Total annual cost of living: $27,671.95
Annual income needed: $55,343.90

f11photo / Getty Images/iStockphoto

f11photo / Getty Images/iStockphoto

27. Milwaukee
Total annual cost of living: $27,426.58
Annual income needed: $54,853.16

Shutterstock.com

Shutterstock.com

26. Mobile, Alabama
Total annual cost of living: $27,272.03
Annual income needed: $54,544.06

Davel5957 / Getty Images/iStockphoto

Davel5957 / Getty Images/iStockphoto

25. Greensboro, North Carolina
Total annual cost of living: $27,228.76
Annual income needed: $54,457.51

DenisTangneyJr / Getty Images/iStockphoto

DenisTangneyJr / Getty Images/iStockphoto

24. Laredo, Texas
Total annual cost of living: $27,228.76
Annual income needed: $54,457.51

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

23. Winston-Salem, North Carolina
Total annual cost of living: $26,913.65
Annual income needed: $53,827.30

DenisTangneyJr / Getty Images

DenisTangneyJr / Getty Images

22. Lubbock, Texas
Total annual cost of living: $26,896.00
Annual income needed: $53,791.99

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

21. Wichita, Kansas
Total annual cost of living: $26,850.45
Annual income needed: $53,700.90

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

20. St. Louis
Total annual cost of living: $26,810.56
Annual income needed: $53,621.12

DenisTangneyJr / Getty Images/iStockphoto

DenisTangneyJr / Getty Images/iStockphoto

19. El Paso, Texas
Total annual cost of living: $26,782.30
Annual income needed: $53,564.59

Davel5957 / Getty Images

Davel5957 / Getty Images

18. Tulsa, Oklahoma
Total annual cost of living: $26,603.23
Annual income needed: $53,206.46

ChrisBoswell / Getty Images/iStockphoto

ChrisBoswell / Getty Images/iStockphoto

17. Fayetteville, North Carolina
Total annual cost of living: $26,579.74
Annual income needed: $53,159.48

Shutterstock.com

Shutterstock.com

16. Rochester, New York
Total annual cost of living: $26,438.91
Annual income needed: $52,877.82

RogersE / Getty Images/iStockphoto

RogersE / Getty Images/iStockphoto

15. Fort Wayne, Indiana
Total annual cost of living: $26,388.64
Annual income needed: $52,777.27

pabradyphoto / Getty Images/iStockphoto

pabradyphoto / Getty Images/iStockphoto

14. Des Moines, Iowa
Total annual cost of living: $26,322.87
Annual income needed: $52,645.75

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

13. Little Rock, Arkansas
Total annual cost of living: $26,203.00
Annual income needed: $52,406.00

DenisTangneyJr / Getty Images

DenisTangneyJr / Getty Images

12. Detroit
Total annual cost of living: $26,174.91
Annual income needed: $52,349.83

SeanPavonePhoto / Getty Images

SeanPavonePhoto / Getty Images

11. Augusta, Georgia
Total annual cost of living: $25,861.85
Annual income needed: $51,723.71

DenisTangneyJr / Getty Images/iStockphoto

DenisTangneyJr / Getty Images/iStockphoto

10. Amarillo, Texas
Total annual cost of living: $25,694.05
Annual income needed: $51,388.10

Sean Pavone / Getty Images/iStockphoto

Sean Pavone / Getty Images/iStockphoto

9. Montgomery, Alabama
Total annual cost of living: $25,372.99
Annual income needed: $50,745.98

karenfoleyphotography / Getty Images

karenfoleyphotography / Getty Images

8. Memphis, Tennessee
Total annual cost of living: $25,241.81
Annual income needed: $50,483.63

Sean Pavone / Shutterstock.com

Sean Pavone / Shutterstock.com

7. Columbus, Georgia
Total annual cost of living: $25,117.72
Annual income needed: $50,235.43

DenisTangneyJr / Getty Images/iStockphoto

DenisTangneyJr / Getty Images/iStockphoto

6. Brownsville, Texas
Total annual cost of living: $24,678.68
Annual income needed: $49,357.37

SeanPavonePhoto / Getty Images/iStockphoto

SeanPavonePhoto / Getty Images/iStockphoto

5. Birmingham, Alabama
Total annual cost of living: $24,439.12
Annual income needed: $48,878.25

Sean Pavone / Shutterstock.com

Sean Pavone / Shutterstock.com

4. Shreveport, Louisiana
Total annual cost of living: $24,373.68
Annual income needed: $48,747.35

Davel5957 / Getty Images/iStockphoto

Davel5957 / Getty Images/iStockphoto

3. Toledo, Ohio
Total annual cost of living: $22,308.57
Annual income needed: $44,617.14

ChrisBoswell / Getty Images/iStockphoto

ChrisBoswell / Getty Images/iStockphoto

2. Cleveland
Total annual cost of living: $21,710.15
Annual income needed: $43,420.29

benkrut / Getty Images/iStockphoto

benkrut / Getty Images/iStockphoto

1. Akron, Ohio
Total annual cost of living: $21,631.90
Annual income needed: $43,263.79
Cameron Huddleston, Grace Lin and Sydney Champion contributed to the reporting for this article. Methodology: To find 35 cities with low costs of living, GoBankingRates analyzed the 150 largest cities in the United States by population, according to the Census Bureau’s 2021 American Community Survey. First, GOBankingRates referenced the Bureau of Labor Statistics’ 2021 Consumer Expenditure Survey data to find the amount that a typical consumer unit spends annually on necessities across the following five categories: housing, groceries, utilities, healthcare, and transportation. Then, GOBankingRates used Sperling’s Best Places’ cost of living indices to adjust spending estimates in each category to reflect prices in each city. Finally, GOBankingRates doubled the estimated total annual cost of necessities in each city to create an estimated minimum income needed to live comfortably, using the 50/30/20 budgeting rule (which allocates 50% of income to necessities, 30% to discretionary spending, and 20% to savings) as a guideline. Cities were then ranked on the estimated minimum income needed to live comfortably, with no. 1 being the city with the overall lowest cost of living. All data was collected on and up to date as of Nov. 30, 2022.

This article originally appeared on GOBankingRates.com: 35 Surprising Cities With Low Costs of Living



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