- It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles.
- However, living in places, like Fort Wayne, Indiana, or Brownsville, Texas, can be more affordable.
- Fort Wayne, Indiana, was named the city with the lowest cost of living for 2022.
Big coastal cities, such as New York and San Francisco, are known for having notoriously high rent prices and an expensive cost of living. But in their smaller Midwestern counterparts, like Indianapolis, Indiana or Toledo, Ohio, life proves 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 livingin 2022.
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 into account 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.
Many of the top 25 cities fell within the Midwest and the South, with a city in Indiana earning the top spot.
Emmie Martin contributed to an earlier version of this article.
25. Jackson, Mississippi
Population:163,778
Median rent: $856
Median home value: $91,400
Percentage of people who rent their home: 51%
Percentage of people who own their home: 49%
24. Odessa, Texas
Population: 122,630
Median home value: $159,700
Percentage of people who rent their home: 39%
Percentage of people who own their home: 61%
23. Lansing, Michigan
Population:117,488
Median rent: $847
Median home value: $87,700
Percentage of people who rent their home: 48%
Percentage of people who own their home: 52%
22. Kansas City, Kansas
Population:153,014
Median rent: $882
Median home value: $101,300
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
21. Pittsburgh, Pennsylvania
Population:301,286
Median rent: $984
Median home value: $134,800
Percentage of people who rent their home: 53%
Percentage of people who own their home: 47%
20. Birmingham, Alabama
Population:210,928
Median rent: $870
Median home value: $97,500
Percentage of people who rent their home: 54%
Percentage of people who own their home: 46%
19. McAllen, Texas
Population:142,557
Median rent: $829
Median home value: $131,500
Percentage of people who rent their home: 41%
Percentage of people who own their home: 59%
18. Cedar Rapids, Iowa
Population:133,125
Median rent: $791
Median home value: $144,500
Percentage of people who rent their home: 30%
Percentage of people who own their home: 70%
17. Wichita, Kansas
Population:390,566
Median rent: $821
Median home value: $138,100
Percentage of people who rent their home: 42%
Percentage of people who own their home: 58%
16. Montgomery, Alabama
Population:199,054
Median rent: $905
Median home value: $121,100
Percentage of people who rent their home: 46%
Percentage of people who own their home: 54%
15. Abilene, Texas
Population:124,691
Median rent: $918
Median home value: $131,300
Percentage of people who rent their home: 46%
Percentage of people who own their home: 54%
14. Amarillo, Texas
Population: 199,225
Median rent: $876
Median home value: $138,900
Percentage of people who rent their home: 41%
Percentage of people who own their home: 59%
13. Cleveland, Ohio
Population: 383,331
Median rent: $735
Median home value: $73,400
Percentage of people who rent their home: 58%
Percentage of people who own their home: 42%
12. Topeka, Kansas
Population:125,819
Median rent: $815
Median home value: $105,700
Percentage of people who rent their home: 41%
Percentage of people who own their home: 59%
11. Erie, Pennsylvania
Population:96,616
Median home value: $90,500
Percentage of people who rent their home: 48%
Percentage of people who own their home: 52%
10. Akron, Ohio
Population: 197,375
Median rent: $795
Median home value: $83,500
Percentage of people who rent their home: 50%
Percentage of people who own their home: 50%
9. Beaumont, Texas
Population:117,321
Median rent: $868
Median home value: $123,700
Percentage of people who rent their home: 45%
Percentage of people who own their home: 55%
8. Buffalo, New York
Population:255,805
Median rent: $801
Median home value: $101,000
Percentage of people who rent their home: 58%
Percentage of people who own their home: 42%
7. Evansville, Indiana
Population: 118,414
Median rent: $797
Median home value: $98,600
Percentage of people who rent their home: 45%
Percentage of people who own their home: 55%
6. Toledo, Ohio
Population: 275,116
Median rent: $737
Median home value: $83,600
Percentage of people who rent their home: 49%
Percentage of people who own their home: 51%
5. Dayton, Ohio
Population: 140,444
Median rent: $724
Median home value: $69,400
Percentage of people who rent their home: 53%
Percentage of people who own their home: 47%
4. South Bend, Indiana
Population: 102,686
Median rent: $814
Median home value: $88,600
Percentage of people who rent their home: 42%
Percentage of people who own their home: 58%
3. Brownsville, Texas
Population: 182,230
Median rent: $754
Median home value: $92,400
Percentage of people who rent their home: 40%
Percentage of people who own their home: 60%
2. Wichita Falls, Texas
Population: 104,657
Median rent: $828
Median home value: $104,800
Percentage of people who rent their home: 43%
Percentage of people who own their home: 57%
1. Fort Wayne, Indiana
Population: 268,378
Median rent: $777
Median home value: $121,600
Percentage of people who rent their home: 37%
Percentage of people who own their home: 63%
- Read more:
- 17 US cities where retirement is affordable, taxes are reasonable, and healthcare costs less
- The 19 best places to live where the typical home costs less than $260,000 and monthly rent is under $1,000
- The 10 most affordable cities to find a good-paying job as a programmer
- 31 US cities where it's cheaper to buy a house than to rent a place
Erin McDowell
Reporter, Editorial Partnerships
Erin McDowell is a reporter on Insider's editorial partnerships team. She covers food, lifestyle, entertainment, real estate, and more for Insider, Business Insider, and Insider Inc.'s partners, including MSN, Apple News, and Yahoo. She graduated from Elon University in January 2019, where she studied strategic communications and digital art. She has written for V Magazine, Milk.XYZ, OUT.com, Brides Magazine, and more. She lives in Brooklyn, New York, and can be found on LinkedIn. Please send all inquiries, comments, or tips to emcdowell@insider.com. Selected stories:
- I used my slow cooker every day for a week to see if it saved me time, and I would never do it again
- I tried double cheeseburgers from 11 fast-food chains. I thought the best burger was also the best deal.
- I tried Cardi B and Offset's McDonald's date-night meal and think the chain should break up with celebrity collaborations
- 'Cake Boss' Buddy Valastro says he prefers Popeyes' 'crispier' chicken sandwich to Chick-fil-A
- The fast-food chicken sandwich wars have reached a new boiling point because of the pandemic, and every chain wants in on the cash grab
- How 'The Bachelor' franchise went from a cultural phenomenon to a relic of reality television
- Hallmark filmed a Christmas movie in my hometown. Photos show what it's actually like this time of year.
- 'It's not what you think it is': The government's bailout loans are failing small businesses like mine, says Farmgirl Flowers' CEO
Erin Snodgrass
Reporter
Erin Snodgrass is a reporter for Insider. Before joining Insider, Erin was an intern with InvestigateTV and Česká televize. She graduated from Loyola University New Orleans in 2020. Her work has also been published in The Olympian and on Nola.com. She can be reached by email at esnodgrass@insider.com or on Twitter as @erinsnod.
Read next
More...
