- It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles.
- However, living in other cities, like Fort Wayne, Indiana, and Brownsville, Texas, can be much more affordable.
- Wichita Falls, Texas, was named the city with the lowest cost of living.
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Big coastal cities, such as New York and San Francisco, feature notoriously high rent prices and an expensive cost of living. But in their smaller Midwestern counterparts, like Indianapolis and Toledo, Ohio, things prove much, much cheaper.
And while a lower cost of living doesn’t always equate to a higher quality of life, it can make a difference for those looking to stretch their paycheck.
Niche, a company that researches and compiles information on places to live, released its list of the US cities with the lowest cost of living in 2020.
The ranking focused primarily on the ratio of home values to income, median property taxes, median home values, median rent, and ratios of monthly housing cost to income for each place. It also took the price of gas, the price of groceries, and the ratio of the median rent to income into consideration. You can read a full breakdown of the methodology here.
The top 25 cities all fell within the Midwest, the South, and the Southwest, with a city in Texas earning the top spot.
Emmie Martin contributed to an earlier version of this article.
25. Oklahoma City, Oklahoma
Population: 637,284
Median rent: $849
Median home value: $153,700
Percentage of people who rent their home: 41%
Percentage of people who own their home: 59%
24. Augusta, Georgia
Population: 127,139
Median rent: $851
Median home value: $104,600
Percentage of people who rent their home: 47%
Percentage of people who own their home: 53%
23. Louisville, Kentucky
Population: 617,032
Median rent: $812
Median home value: $152,300
Percentage of people who rent their home: 60%
Percentage of people who own their home: 40%
22. Topeka, Kansas
Population: 126,877
Median rent: $790
Median home value: $102,600
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
21. Palm Bay, Florida
Population: 110,271
Median rent: $1,027
Median home value: $136,600
Percentage of people who rent their home: 27%
Percentage of people who own their home: 73%
20. Huntsville, Alabama
Population: 193,663
Median rent: $804
Median home value: $176,100
Percentage of people who rent their home: 42%
Percentage of people who own their home: 58%
19. Corpus Christi, Texas
Population: 324,692
Median rent: $996
Median home value: $133,200
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
18. El Paso, Texas
Population: 680,354
Median rent: $814
Median home value: $123,900
Percentage of people who rent their home: 41%
Percentage of people who own their home: 59%
17. Akron, Ohio
Population: 198,314
Median rent: $735
Median home value: $81,400
Percentage of people who rent their home: 49%
Percentage of people who own their home: 51%
16. Killeen, Texas
Population: 143,070
Median rent: $912
Median home value: $121,500
Percentage of people who rent their home: 56%
Percentage of people who own their home: 44%
15. Jackson, Mississippi
Population: 168,862
Median rent: $824
Median home value: $90,800
Percentage of people who rent their home: 50%
Percentage of people who own their home: 50%
14. Evansville, Indiana
Population: 118,952
Median rent: $755
Median home value: $92,300
Percentage of people who rent their home: 45%
Percentage of people who own their home: 55%
13. Dayton, Ohio
Population: 140,782
Median rent: $681
Median home value: $66,500
Percentage of people who rent their home: 53%
Percentage of people who own their home: 47%
12. Birmingham, Alabama
Population: 212,021
Median rent: $797
Median home value: $89,200
Percentage of people who rent their home: 54%
Percentage of people who own their home: 46%
11. Odessa, Texas
Population: 118,582
Median rent: $1,052
Median home value: $149,900
Percentage of people who rent their home: 39%
Percentage of people who own their home: 61%
10. Toledo, Ohio
Population: 278,193
Median rent: $700
Median home value: $79,900
Percentage of people who rent their home: 49%
Percentage of people who own their home: 51%
9. Montgomery, Alabama
Population: 200,156
Median rent: $867
Median home value: $119,600
Percentage of people who rent their home: 45%
Percentage of people who own their home: 55%
8. South Bend, Indiana
Population: 102,233
Median rent: $767
Median home value: $82,500
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
7. Abilene, Texas
Population: 123,676
Median rent: $912
Median home value: $114,000
Percentage of people who rent their home: 46%
Percentage of people who own their home: 54%
6. McAllen, Texas
Population: 141,597
Median rent: $767
Median home value: $123,900
Percentage of people who rent their home: 40%
Percentage of people who own their home: 60%
5. Fort Wayne, Indiana
Population: 264,052
Median rent: $735
Median home value: $110,600
Percentage of people who rent their home: 38%
Percentage of people who own their home: 62%
4. Amarillo, Texas
Population: 198,773
Median rent: $839
Median home value: $127,200
Percentage of people who rent their home: 40%
Percentage of people who own their home: 60%
3. Beaumont, Texas
Population: 118,632
Median rent: $843
Median home value: $104,400
Percentage of people who rent their home: 45%
Percentage of people who own their home: 55%
2. Brownsville, Texas
Population: 182,679
Median rent: $710
Median home value: $87,600
Percentage of people who rent their home: 38%
Percentage of people who own their home: 62%
1. Wichita Falls, Texas
Population: 104,494
Median rent: $784
Median home value: $97,400
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
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