10 Cheapest Places to Live in the US in 2022

The Real Estate Market

10 Cheapest Places to Live in the US in 2022

December 20, 2021

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The looming pandemic and inflation have made Americans focus more on affordability when it comes to finding a place to live.

When discussing affordable cities, the cost of living has risen to become the most important factor for renters and buyers. In fact, a recent survey conducted by the U.S. News revealed that the cost of living was cited as the number one factor when it comes to Americans finding the best place to live.

In this blog post, we provide a list of the 10 Cheapest Places to Live in the US for 2022. The cities in this list have been selected based on the cost of living, the median income of the residents, cost of utilities, and the annual taxes.

10 Affordable Cities to Live in the US

10. Syracuse, New York

An average Syracuse resident spends approx. 20.8% of their income on living expenses.

With an average salary range of just a little above $52,000, Syracuse is one of the most affordable cities for any American looking for a new place to live.

Syracuse is known for its heavy snowfall and can easily get over 100 inches of snow a year. The city has become a popular choice amongst young and retired adults to settle down because of its affordability and vicinity to New York City.

 

9. St. Louis, Missouri

St. Louis could be described as a big city with a small town charm. The city has the largest metro area in Missouri and has one of the lowest costs of living in all of the US. St. Louis has a population of a little over 2.8 million but still has many local tight-knit communities.

You’ll be surprised to find a variety of houses available here, ranging from three-story Victorians to wood-framed farmhouses and colonials. St. Louis has one of the lowest incomes spent on living expenses at 20.79%.

 

8. Youngstown, Ohio

Youngstown is one of the most affordable cities for anyone trying to save money. The town has a median income of $42,260, and the average income spent on living expenses is 20.6% on average.

According to a recent report by Zillow, the average cost of a house in the Youngstown metro has gone up by 18%, which is a clear sign that the region is getting a surge in property demand.

Youngstown has the second highest poverty rate in America at around 35%. It’s a slower moving area with not a lot to do recreationally but the low cost of living can be a huge plus that offsets the lack of activity in the city.

 

7. Greenville, South Carolina

According to the U.S. Census Bureau, Greenville saw a 4.4% rise in its population between 2015 and 2019 and it’s predicted that migration will only increase thanks to the affordable cost of living that it has to offer.

With 20.5% as an average income spent on living, Greenville ranks high amongst the cheapest places to live in the US.

Located in South Carolina, the town is an entertainment center for the region and is full of southern charm. Manufacturing is the main industry based out of Greenville and companies like Michelin and GE provide lots of job opportunities.

 

6. Omaha, Nebraska

Known for celebrating and treasuring its past, Omaha has won the reputation of being a flyover city thanks to its location in the heart of the country.

Omaha is amongst a handful of cities in the US that has seen a slight decrease in the cost of living as compared to last year. The flyover city has a median income of just a little over $50,000 and residents spend only 20.4% of it on living expenses.

Omaha may be more remote and rural than many other cities but it is also an affordable and calm choice for anyone looking for a new home.

 

5. Kalamazoo, Michigan

Kalamazoo is two hours away from populous cities like Detroit and Chicago. Although the median salary range ($48,230) is lower than the national average, ($53,490), the low cost of living splits the difference and gives residents a lot left after paying for living expenses.

Kalamazoo is a popular place in and around the region for its craft breweries, vintage fairs, and farmer’s markets.

 

4. Green Bay, Wisconsin

If you are looking for a slightly less populated city with an affordable cost of living, then Green Bay may be the city for you. The Wisconsin city has one of the smallest metro areas in the country.

The average income of Green Bay residents is $47,400 with the average cost of living being 19.83% of annual income.

Green Bay is known mostly for the Green Bay Packers. With a population of 300,000, Green Bay is a sports town full of passionate fans. The city also has a thriving beer industry and a great restaurant scene.

 

3. Hickory, North Carolina

Hickory, North Carolina offers a small-town atmosphere with the growth of larger metro areas. The city is located in close vicinity to popular cities like Charlotte as well as beautiful scenery like the Blue Ridge Mountains.

The town has traditionally been a favorite choice of older adults and retirees. However in recent years, there has been a huge influx of young professionals thanks to its affordability and major employers like Google and Apple setting up their facilities in the region.

Residents of Hickory have a annual income of $41,840 on average and spend just 19.7% of it on the cost of living.

 

2. Fort Wayne, Indiana

Fort Wayne is an isolated city that has a population of a little over 500,000. The residents of Fort Wayne have an average annual salary of $46,810 and a cost of living of 19.13%.

Although there isn’t a lot of attractions and events in Fort Wayne, the affordability, low violent crime, and the investments into the downtown metro area, make Fort Wayne a city with many opportunities.

Whether you are looking to buy a house, start a family, or looking for a new job, Fort Wayne has a lot of potential.

 

1. Huntsville, Alabama

An above-average median salary and low cost of living makes Huntsville, Alabama one of, if not the most, least expensive city to live in the US. The average annual income of Huntsville residents is a little above $55,000. At the same time, residents are spending just 18.8% of their earnings on living expenses.

Thanks to the presence of NASA and the U.S. Army’s Redstone Arsenal, the town has gained the reputation of having the most educated population in the state.

With more shopping, dining, and living options popping up in recent years, Huntsville has gained somewhat of scenery and many Americans consider the Rocket City when looking at the best and affordable places to move to.

Summary

Other than these ten cities, some other noteworthy mentions that could have easily made it to this list are…

  • Louisville, Kentucky (The largest city in Kentucky)
  • Greenville, South Carolina (The Entertainment Center of the state)
  • Peoria, Illinois (The largest city on the Illinois River), to name a few

These cities all have an average annual income of around $48,000 and low median household expenses. When looking for a new city to move to, there are many factors that need to be considered. One of the most important factors is what you can afford and this list gives you ten great options based on that criteria.

All the best!

If you aren’t sure which type of house will best suit your needs, a Negotiator can help you decide what’s best for you. Negotiators are comprised of some of the best real estate agents in the country who all go above and beyond for their clients. They will be able to assist you with all your real estate-related inquiries and provide you with the expert guidance as you look for a home. Learn more about Negotiators here!