Cheapest Places to Live in the US

By Mia R. • Jun 17, 2024

As housing prices continue to skyrocket across the country, it's no shock that Americans are looking for ways to keep their cost of living down. For many, this means moving to a more affordable location. We've rounded up the seven most affordable cities in the United States according to U.S. News & World Report. Unsurprisingly all seven are in the Midwest or Southeast. These regions tend to be cheaper overall compared to the rest of the United States. Looking to save some cash? Maybe one of these cities could be your new home!

7. Montgomery, Alabama

Coming in at number seven is Montgomery, Alabama. Montgomery has a population of 204,512 and offers a low cost of living while still being one of the safest cities on the list. The median rent in Montgomery is only $1,100 and home prices are well below the national average. The median home price is only around $154,000. For those who prefer a cooler climate, Montgomery might not be the right move. Higher than-average temperatures make this city a no-go for the fair-weather crowd. Overall, with only 22.84% of income spent on living expenses, Montgomery is a solid affordable option in an often-overlooked corner of the U.S. 7 Most Affordable US Cities-1

6. Hickory, North Carolina

Up next is the little Appalachian getaway of Hickory, North Carolina. With a population of only 58,242, Hickory is the smallest city on the list. Hickory is a great option if you want the small-town feel while keeping the big city nearby as Charlotte and Asheville are both only a few hours' drive. Hickory has all the amenities you might expect in a charming mountain town without the inflated costs. The average household spends 22.48% of their income on living expenses. This is a great affordable city for the nature enthusiast. 7 Most Affordable US Cities

5. Davenport, Iowa

Nestled between Des Moines and Chicago, with a population of 101,979, sits the smaller but bustling city of Davenport, Iowa. Davenport offers many of the same amenities as its bigger neighbors but at a fraction of the cost. The city boasts several outdoor opportunities along the Mississippi River Trail and a lively music and arts scene downtown. The median home price in Davenport is only $210,000 and the average household only spends 22.92% on living expenses. 7 Most Affordable US Cities

4. Springfield, Missouri

About six hours south of Davenport is the next city on the list. Springfield Missouri has a population of 211,147. With a charming downtown that hosts fun traditions like the Artsfest and Cider Days, along with a host of other attractions including the Dickerson Park Zoo and Wild Animal Safari, Springfield is perfect for young families looking to relocate. Plus, the average home price is only around $279,000 making it more affordable than many similar attraction-rich cities in the U.S. On average, residents of Springfield spend 23.61% of their income on living expenses. 7 Most Affordable US Cities-4

3. Wichita, Kansas

With a median home price of $173,000 and a population of 402,799, Wichita, Kansas is the largest city on the list. There's plenty to do in this mid-sized midwestern oasis. Wichita offers over 5,000 acres of park space, the nation's seventh largest zoo, and more than 200 restaurants and bars in the downtown area. Wichita is a great option for those seeking to strike the perfect balance between big city living and small-town charm. The average Wichita household spends 22.28% of their income on living expenses. 7 Most Affordable US Cities-5

2. Huntsville, Alabama

It doesn't take a rocket scientist to see why Huntsville comes in at number two on the list. Ever since NASA set up shop in this small Alabama town during the Space Race, the number of amenities and quality of life there have skyrocketed. Huntsville has managed to keep the cost of living low as well. With average home prices around $245,000, it's one of the more expensive cities on the list, but it also boasts some of the highest household incomes of any city on the list. Residents of Huntsville only spend 20.43% of their income on living expenses meaning Huntsville packs a lot of bang for the buck. 7 Most Affordable US Cities-6

1. Fort Wayne, Indiana

The most affordable city on the list is Fort Wayne, Indiana. Families in Fort Wayne spend a measly 19.56% of their income on living expenses. The city offers a zoo, several museums, and a gorgeous riverfront park – not to mention its prime location. Fort Wayne is equidistant from several major U.S. cities including Chicago, Detroit, Cleveland, and Indianapolis. Fort Wayne manages to be the most affordable city on the list without compromising on any of the key amenities. 7 Most Affordable US Cities-7

Start packing up your things! Now that you've explored the seven most affordable cities in the U.S., surely, you're ready to move! The cost of living will only continue to increase across the country. One of these adorable and affordable mid-sized cities could be your new home!