Between a daily cup of coffee, a bagel, rent, utilities, a car or public transit and another bagel, life can get expensive.
After all, the price to pay for existence seems quite high for 40 years of high inflation. Even though inflation started to chill Since its peak, it has remained bullish, which can hurt wallets even more in cities with naturally high costs of living like New York. Living in an affordable neighborhood may be more important than ever for many Americans these days.
Niche recently identified the best places in america with the lowest cost of living by analyzing government data on housing, groceries, fuel, median tax rates, and the ratio of home value to income, among other factors. Southern cities and towns have a reputation for being less expensive than their coastal counterparts, so it’s no surprise that Texas dominates the top 10 most affordable places on Niche’s list:
- Heidelberg, McAllen, TX
- Chattahoochee, Florida.
- Pearl River, miss.
- Pine Ridge, SD
- Dilly, TX
- Sweet Home, Little Rock, Ark.
- Bridgeport, Alabama.
- Muniz, McAllen, TX
- Dibol, TX
- San Carolos, McAllen, TX
It looks like McAllen, TX is the perfect place to save some cash, with three suburbs in the lead. Heidelberg sits at number one; while it only has a C+ rating for its nightlife, it boasts above-average accommodation ratings (B+). That makes sense, given that his median home value of $45,200 is well below his national median home value of $244,900. Rent is also much more affordable, a median of $447 per month compared to the national monthly rent of $1,163.
But even though Texas seems to have a better cost of living, the country with no income tax may not be as much as a flight for lower- and middle-class Americans, as many believe; consumption and property taxes are still above average. And economists Stephen Wiler and Tessa Conroy explain that there is a lack of data on the cost of rural areas since inflation is usually calculated on the basis of the price of goods in urban areas. Things like trips to get groceries and higher car and gas costs could make rural areas more expensive than it looks.
Yet a paycheck often goes much further in small towns than in big ones. After all, a $100,000 salary may depreciate to $35,000 in New York or $86,444 in Memphis, Tennessee, according to calculations by SmartAsset.
Fortunately, the flexibility of remote work has allowed many workers to take matters into their own hands and leave more expensive cities like San Francisco to mid-tier cities and small towns. The so-called exodus was partly encouraged by the city programs that pay people to move there. Some have embraced their new, more affordable lifestyle so well that they have no intention of leaving even after the incentive ends. Consider the many remote workers who have moved Tulsa for $10,000 and plan to stay longer than the year required for the program.
It might be time to give quaint Heidelberg a try, not to be confused with German Heidelberg, as it is apparently home to just over 2,000 people.