It may come as a surprise, but affordable living doesn't have to mean sacrificing quality, especially if you're planning to move in 2023. Last week, US News & World Report released a ranking of the cheapest places to live in the US, indicating that there are several cities throughout the South and Midwest that offer great schools and urban amenities at an affordable cost. The ranking was based on typical incomes, housing costs (including taxes and utilities), the percentage of income that goes to housing, and goods and services costs. Rent or mortgage payments are considered affordable when they account for 30% or less of a person's monthly income. In the cheap cities on the US News list, Texas, and Youngstown, Ohio, residents spend less than 25% of their monthly incomes on housing. Notably, none of the big US cities made it to the list, with these affordable places offering small-town vibes and easy access to parks and hiking trails – popular spots for American movers since the pandemic. Many of these budget-friendly cities, such as Fayetteville, Arkansas, and Green Bay, Wisconsin, also topped US News & World Report's overall ranking of the best places to live in terms of affordability, population influx, resident happiness, crime rates, and other quality-of-life indicators. Below is a list of the top 15 cheapest places to live in the US, along with their typical incomes and housing costs, according to US News & World Report.
Population of the metro area: 420,554
Average salary: $39,240
Percent of income spent on living costs: 23.34%
Population of the metro area: 323,681
Average salary: $49,240
Percent of income spent on living costs: 20.94%
Population of the metro area: 538,063
Average salary: $51,590
Percent of income spent on living costs:: 20.44%
Population of the metro area: 918,166
Average salary: $48,350
Percent of income spent on living costs: 21.31%
Population of the metro area: 322,864
Average salary: $47,400
Percent of income spent on living costs: 21.67%
Population of the metro area: 873,816
Average salary: $49,290
Percent of income spent on living costs: 21.13%
Population of the metro area: 384,055
Average salary: $51,240
Percent of income spent on living costs: 20.14%
Population of the metro area: 326,590
Average salary: $51,510
Percent of income spent on living costs: 19.92%
Population of the metro area: 404,226
Average salary: $54,370
Percent of income spent on living costs: 20.62%
Population of the metro area: 397,924
Average salary: $50,750
Percent of income spent on living costs: 20.31%
Population of the metro area: 415,887
Average salary: $50,330
Percent of income spent on living costs: 20.07%
Population of the metro area: 483,366
Average salary: $61,140
Percent of income spent on living costs: 19.62%
Population of the metro area: 361,177
Average salary: $45,520
Percent of income spent on living costs: 20.69%
Population of the metro area: 542,459
Average salary: $45,090
Percent of income spent on living costs: 20.29%
Population of the metro area: 364,877
Average salary: $44,470 per year
Percent of income spent on living costs: 18.95%