Folks who live in big cities often dream about moving to the country to see how far their money will go. The latest list of America’s cheapest cities to live in will have people wondering if they should get out of dodge to save money on rent, not to mention the costs of goods and services.
The list of the top 10 cheapest American cities are spread out around the country with some in Idaho, California, Arizona, and many in the Southeastern region. Lincoln, Nebraska is the largest city on the list, which all bag at least 15% savings on goods and services as well as rent and the cost to buy a home.
Goshen, Indiana tops the list with a median home value at $129,300, which is among the bottom 25% in the country. Typical monthly rent is $742 and the median household income comes in at $54,216.
- Other cities on the list include Goldsboro, North Carolina, Yuba City, California, Coeur d’Alene, Idaho and Sumter, South Carolina.
- Not surprisingly, the data shows that large urban areas tend to be more expensive than non-metropolitan areas. The most inexpensive cities are relatively small, ranging in population from 100,000 to 700,000 people, while more expensive cities tend to be large urban centers with populations of two million or greater.
Top Ten Cheapest American Cities
1. Elkhart-Goshen, IN
2. Lincoln, NE
3. Coeur d’Alene, ID
4. Kingsport-Bristol-Bristol, TN-VA
5. Chambersburg-Waynesboro, PA
6. Sumter, SC
7. Yuba City, CA
8. Morristown, TN
9. Daphne-Fairhope-Foley, AL
10. Goldsboro, NC
Source: 24/7 Wall St