The Most Affordable Cities in America for Working Adults

In a world where soaring inflation and skyrocketing home prices have left many people in search of more affordable living options, we understand that the quest for an affordable place to call home is more crucial than ever. If you’re looking to relocate without breaking the bank, you’re in the right place. We’ve analyzed the data, and in this article, we’re going to reveal the most affordable cities in America for working adults. No fluff, just the facts you need to make an informed decision.

What Determines the Cheapest Places to Live?

Before we dive into the list of affordable cities, let’s first understand the factors that determine what makes a place affordable. To determine the most affordable cities in the United States, financial services company Empower conducted a comprehensive analysis of 113 cities. Their criteria included:

• Median rent and home prices
• Average income of residents
• Cost of living
• Employment rates

After evaluating each city based on these factors, they ranked them from the most to the least affordable. It’s no surprise that some of the most affordable places are located in the South and Midwest, while coastal cities like New York and San Diego tend to be on the pricier side.

The Most Affordable City for Working Adults: Sioux Falls, South Dakota

Drumroll, please! After meticulous analysis, Empower crowned Sioux Falls, South Dakota, as the number one most affordable city in the United States for working adults. According to data from Realtor.com, the median home listing price in Sioux Falls was $340,000 in September 2023. Not only is housing affordable, but the overall cost of living is below the national average, making your dollar stretch further than it would in places like San Francisco.

What sets Sioux Falls apart is its high quality of life. Maggie Miller, a local realtor, notes that the city boasts a strong sense of community, excellent healthcare facilities, and an abundance of green spaces. With over 80 parks and 3,178 acres of public-use space, plus a 29-mile paved recreational trail, nature enthusiasts will feel right at home. The Big Sioux River, meandering through downtown, adds to the picturesque landscape.

Sioux Falls is not just a great place for working adults; it’s also the third most affordable city for retirees, according to Empower’s study.

What Makes Sioux Falls Special?

Sioux Falls’ allure extends beyond its affordability. The city’s appeal lies in its tax-friendly environment. There’s no state income tax, low property taxes, and a general sense of safety and security. With a growing job market and housing demand met by available options, Sioux Falls is a city on the rise.

Other Affordable Cities for Working Adults

If snowy winters are not your cup of tea, don’t worry. Empower has identified the top 10 cheapest places to live in America. Here’s a quick rundown of the other affordable cities:

1. Springfield, Illinois: As the state capital, it offers numerous state government jobs and a robust job market. With a median home listing price of $149,900 and an average salary of $64,085 (as of October 2023), it’s an excellent choice for working adults.
2. Wichita, Kansas: With its vibrant arts and culture scene, low housing costs, and a welcoming community, Wichita is a city to consider.
3. Virginia Beach, Virginia: This coastal city combines affordability with a scenic location, making it an attractive choice for those who enjoy coastal living.
4. Des Moines, Iowa: Known for its strong job market and affordable housing, Des Moines is a fantastic option for working adults.
5. Oklahoma City, Oklahoma: With a low cost of living and a growing job market, Oklahoma City offers affordability without compromise.
6. Lincoln, Nebraska: A balanced housing market and a strong job market make Lincoln a great place for working adults.
7. Anchorage, Alaska: Despite its remote location, Anchorage offers an affordable cost of living and access to stunning natural landscapes.
8. Omaha, Nebraska: Known for its friendly community and affordable housing, Omaha is a hidden gem in the Midwest.
9. McAllen, Texas: Affordable living in the Lone Star State, McAllen offers a warm climate and a vibrant culture.

Springfield: A Capital City with Opportunities

Springfield, Illinois, earned its spot as one of the most affordable cities due to a wealth of opportunities. As the state capital, it boasts 17,000 state government jobs, and the job market is thriving. With a median home listing price of $149,900 and an average salary of $64,085, Springfield is a great choice for working adults.

Additionally, Springfield’s vibrant arts and culture scene, along with its historical significance as the home of Abraham Lincoln and the starting point of Barack Obama’s political career, adds to its appeal. Its proximity to larger cities like St. Louis, Chicago, and Indianapolis makes it a practical choice.

Wichita: More Than Just Affordable Living

Wichita, Kansas, is not just about affordability; it’s about living life to the fullest. The city offers a rich cultural experience with live music, arts, and entertainment. Locally owned restaurants serve up delicious dishes, and the diverse food scene keeps things exciting. Wichita boasts one of the top zoos and a variety of local arts and entertainment options.

The housing market in Wichita is another attraction. With median housing prices under $200,000 and easy access to major interstates, you can enjoy the benefits of affordable living without sacrificing convenience.

Conclusion: Finding Your Sweet Spot

In your quest for the ideal place to live, remember that affordability is just one piece of the puzzle. Your best bet for happiness in your new home is to find the sweet spot that aligns with your unique needs, whether it’s cost of living, culture, safety, or proximity to family. By considering all these factors, you can make a well-informed decision and embark on a new chapter in one of the most affordable cities for working adults in the United States.

Now you have the inside scoop on some of the most affordable cities in America. Whether you’re looking for a bustling job market, a vibrant cultural scene, or simply a cost-effective place to call home, these cities have something for everyone. Happy house hunting!