low cost of living

7 Cities With a Low Cost of Living

VWB Blog 2 years ago 1

Did you know the average household in the US spends $5,111 on monthly expenses? Housing, transportation, groceries, and entertainment costs add up quickly, making it impossible to get ahead with your finances.

Many people are looking for cities with a low cost of living to save money long-term and change their overall lifestyle. If you’re looking to save money by making a move in the near future, it can be overwhelming to narrow down the perfect location.

Fortunately, you can keep reading this guide to learn about seven cities in the US that won’t leave your bank account empty!

1. Charlotte, North Carolina

You’ll find Charlotte, NC, offers everything from dining, shopping, arts, and an excellent public transit system.

The largest companies in Charlotte include NASCAR, Hendrick Motorsports, and Wells Fargo. In 2017, Charlotte was rated one of the top three fastest-growing cities in the US, and between 2018 and 2019, there was a 2.3% increase in jobs in the Charlotte area.

You’ll be able to find a new home just outside of the city center for less than $300,000, and homes further out will cost you even less. You’ll also find that in Charlotte, the cost of living is slightly below the national average.

To learn more about living in Charlotte, North Carolina, you can visit this site to find more info.

2. Tulsa, Oklahoma

When it comes to a low cost of living, Tulsa is a fantastic place to consider for your new home. You’ll find the average home price to be in the $150,000 range, the average rent to be less than $800, and the cost of living below the national average.

Tulsa’s top job industries include finance, technology, education, and health. Over 10% of job opportunities lie in the top employers in Tulsa, which include Saint Francis Health System, along with Tulsa Public Schools and Union Public Schools.

Tulsa is located along the foothills of the Ozark mountains and has plenty of jogging trails and parks, so you’ll have many opportunities to enjoy nature.

3. Knoxville, Tennessee

Knoxville is worth checking into if you’re looking for an affordable city with a small-town feel.

The average cost of living is lower than the national average, and you’ll pay around $250,000 for a home in Knoxville, and rent will cost you just over $1,100 a month. Not only is Knoxville affordable, but it’s a very liveable city and close to the Great Smoky Mountains.

You’ll find plenty of opportunities for jobs and education, as it’s home to many retail, educational, and healthcare industries. The biggest employers in Knoxville are Covenant Health and The University of Tennessee.

4. Memphis, Tennessee

Memphis is one of the most affordable cities to buy a home in, with the average home price around $120,000, and you’ll pay less for property taxes in Tennessee than you do in most other states.

You’ll also find job opportunities at Fortune 500 companies in Memphis, including AutoZone, FedEx, and International Paper Co.

It’s also important to know that even though Tennessee has one of the highest sales tax rates in the US at 9.25%, you won’t have to pay any state income tax. Due to this, Tennessee is known as being the most tax-friendly state for both middle-class families and retirees.

You’ll also have easy access to parks, forests, trails, and rivers for hiking, camping, or white water rafting.

5. Boise, Idaho

Boise experienced a huge boom in population between 2010 and 2018, and it intensified during the COVD-19 pandemic.

Along with the boom in population, Boise has also had an increase in local amenities like grocery stores, schools, and healthcare centers. You’ll also find it’s home to major tech companies like Pluto LLC, ServiceNow, and Artium.

The average cost of living in Boise has an index of 100, so it’s in line with the average cost of living in the US. You can expect to pay around $400,000 for a home and an average of $1,370 for rent.

Boise also has many outdoor recreation opportunities with plenty of hiking trails and parks. The Boise River is famous for fishing, paddleboarding, and swimming, and the Boise River Greenbelt is a popular system of trails that stretch for 25 miles.

6. Wichita, Kansas

Due to slow population growth since 2010, Wichita flies under the radar for people looking to relocate. You’ll be able to find a new home for less than $160,000, and for rent, you’ll pay only $700 or less a month.

Wichita is also known as the “Air Capital of the World” due to the large presence of aviation. In 1903 the Wright Brothers launched their first flight there, and today it’s home to McConnell Air Force Base and companies like Textron Aviation and Collins Aerospace.

On your days off, you’ll also find plenty to do in Wichita, such as visit the Sedgwick County Zoo or Frank Lloyd Wright’s Allen House.

7. Hattiesburg, Mississippi

In Hattiesburg, Mississippi, you’ll find the cost of living to be well below the US average, and home values fall between $130,000 and $135,000.

Hattiesburg has excellent opportunities for education as it’s home to the University of Southern Mississippi and William Carey University. It’s also home to Camp Shelby, the region’s largest National Guard training base.

As of early 2022, Mississippi also has one of the lowest unemployment rates in the US, and its major employers include Forrest General Hospital and the University of Southern Mississippi.

Finally, you’ll only have to drive 90 minutes to reach the casinos and beaches along Mississippi’s gulf coast, and Hattiesburg is home to many theaters, galleries, and museums.

Low Cost of Living in the United States

Now that you have some ideas about where you can find a low cost of living in the United States, you can work towards making changes to lower your expenses.

Remember, there are more cities out there, so do your research and compare the pros and cons of each of them before making your final decision.

If you’re ready to read more, check out our blog for more lifestyle and business articles that will improve your life!

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