The 25 US cities with the lowest cost of living

Wichita Falls Texas

It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles.
However, living in other cities, like Fort Wayne, Indiana, and Brownsville, Texas, can be much more affordable.
Wichita Falls, Texas, was named the city with the lowest cost of living.
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Big coastal cities, such as New York and San Francisco, feature notoriously high rent prices and an expensive cost of living. But in their smaller Midwestern counterparts, like Indianapolis and Toledo, Ohio, things prove 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, recently released its list of the US cities with the lowest cost of living. 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 the price of gas, the price of groceries, and the ratio of the median rent to income into consideration. Read a full breakdown of the methodology here.

The top 25 cities all fell within the Midwest, the South, and the Southwest, with a city in Texas earning the top spot.

Emmie Martin contributed to an earlier version of this article.

SEE ALSO: The 50 best suburbs in America, ranked

25. Oklahoma City, Oklahoma

Population: 637,284

Median rent: $849

Median home value: $153,700

Percentage of people who rent their home: 41%

Percentage of people who own their home: 59%

24. Augusta, Georgia

Population: 127,139

Median rent: $851

Median home value: $104,600

Percentage of people who rent their home: 47%

Percentage of people who own their home: 53%

23. Louisville, Kentucky

Population: 617,032

Median rent: $812

Median home value: $152,300

Percentage of people who rent their home: 60%

Percentage of people who own their home: 40%

22. Topeka, Kansas

Population: 126,877

Median rent: $790

Median home value: $102,600

Percentage of people who rent their home: 43%

Percentage of people who own their home: 57%

21. Palm Bay, Florida

Population: 110,271

Median rent: $1,027

Median home value: $136,600

Percentage of people who rent their home: 27%

Percentage of people who own their home: 73%

20. Huntsville, Alabama

Population: 193,663

Median rent: $804

Median home value: $176,100

Percentage of people who rent their home: 42%

Percentage of people who own their home: 58%

19. Corpus Christi, Texas

Population: 324,692

Median rent: $996

Median home value: $133,200

Percentage of people who rent their home: 43%

Percentage of people who own their home: 57%

18. El Paso, Texas

Population: 680,354

Median rent: $814

Median home value: $123,900

Percentage of people who rent their home: 41%

Percentage of people who own their home: 59%

17. Akron, Ohio

Population: 198,314

Median rent: $735

Median home value: $81,400

Percentage of people who rent their home: 49%

Percentage of people who own their home: 51%

16. Killeen, Texas

Population: 143,070

Median rent: $912

Median home value: $121,500

Percentage of people who rent their home: 56%

Percentage of people who own their home: 44%

15. Jackson, Mississippi

Population: 168,862

Median rent: $824

Median home value: $90,800

Percentage of people who rent their home: 50%

Percentage of …read more

Source:: Businessinsider – Finance

      

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