Feeling the pinch of high living costs? You’re not alone. With rising expenses for housing, insurance, utilities, and groceries, many people are struggling to make ends meet. However, the cost of living can vary significantly from one place to another. Realtor.com has identified the cities where your money can go the furthest.
Their latest report lists the U.S. cities with the lowest cost of living, based on regional price parities (RPPs) data from the Bureau of Economic Analysis. Leading the list is McAllen, Texas, with an RPP of 86.92%. This means that what costs $100 on average nationally would only cost $86.92 in McAllen, making its cost of living 13% lower than the national average. The city’s low housing costs are a major factor, with a median home price of $275,000. Additionally, Texas has no state income tax, and property taxes in McAllen are relatively low.
Most of the cities on the list are smaller and located in the South and Midwest.
The Top 10 Cities with the Lowest Cost of Living:
- McAllen, Texas
- Wichita, Kansas
- Little Rock, Arkansas
- Toledo, Ohio
- Scranton, Pennsylvania
- Dayton, Ohio
- Tulsa, Oklahoma
- Akron, Ohio
- Birmingham, Alabama
- El Paso, Texas
Source: Realtor.com
Scott's Thoughts:
- It’s almost enough to make me want to move!
- If I could afford my car tax and car insurance, I would be a lot better off. Thanks Montgomery County, Christiansburg and Progressive.
- I have never even been to any of these cities!