The 25 cheapest places to live in the US in 2024

What are the cheapest places to live in the U.S.? It’s a question on many prospective homeowners’ minds these days. With everyday costs of living in America rising and economic uncertainty abounding, more working professionals and families are looking to stretch every dollar further than ever.

Thankfully, many relocation options are available for home buyers on the hunt for the most affordable places to live in the U.S. Each of the following affordable destinations can help you get more out of your budget.

Where is the cheapest place to live?

Finding affordable housing often depends on a property’s location, its proximity to major urban centers or areas of commercial interest, and geographic region. Factors within individual markets such as access to beaches, lakes, or warmer temperatures as well as available inventory can also impact home pricing.

That said, Rocket Mortgage^® cross-referenced a number of different metrics including population, median income, costs of living, median rent, percent of income spent on housing and more to determine the cheapest places to live in the U.S.

How to interpret the cost of living index

One of the metrics typically used to determine the affordability of any given city is the cost of living index. As you go about reviewing your potential housing options, keep in mind that the baseline score for a town on a cost of living index is 100. Amounts above or below this baseline figure suggest that a city is more or less expensive to live in, respectively. By way of illustration (and as you’ll see below), areas with an index score below 100 are generally less expensive to live in than most areas with a score of 100 or above. All but one city on this list have costs of living well below 100.

1. Jonesboro, Arkansas

Arkansas State University’s campus and a thriving downtown, as well as numerous fishing, hiking, and camping hotspots, make Jonesboro a haven for city dwellers and outdoor lovers alike. While the University provides educational entertainment, the Forrest L. Wood Crowley's Ridge Nature Center features pleasant views, native plants and live animal encounters. 

• Population: 222,200
• Cost of living index:70
• Median income: $61,057
• Monthly homeowner costs: $864
• Median rent: $685
• Percent of yearly income spent on housing:7%

2. Conway, Arkansas

Conway is nestled in the Little Rock-North Little Rock area, close to three colleges (Central Baptist, Hendrix, and the University of Central Arkansas). It’s also home to 11 parks, two lakes and the Arkansas Shakespeare Theater. You’ll find the cost of health care, transportation and groceries almost as affordable as housing expenses here, making it an attractive move option. 

• Population: 236,400
• Cost of living index: 35
• Median income: $61,898
• Monthly homeowner costs: $931
• Median rent: $800
• Percent of yearly income spent on housing: 8%

3. Decatur, Illinois 

Decatur is a hotbed of manufacturing and agriculture activity and serves as home to many students from Millikin University and Richland Community College. Houses go for significantly lower than the national average, rendering it an especially affordable place to live. 

• Population: 92,200
• Cost of living index: 90
• Median income: $49,714
• Monthly homeowner costs: $776
• Median rent: $575
• Percent of yearly income spent on housing: 14%

4. Green Bay, Wisconsin

NFL fans who move to Green Bay will enjoy proximity to the legendary Lambeau Field, while others will celebrate a thriving culture scene and a revamped downtown area. A surprising energy infuses the community, which blends a small-town vibe with the perks of big city living.

• Population: 192,900
• Cost of living index: 30
• Median income: $55,177
• Monthly homeowner costs: $798
• Median rent: $750
• Percent of yearly income spent on housing: 4%

5. Greenville, North Carolina

An upwardly mobile town that nicely splits the difference between city and suburb, Greenville offers a low cost of living. It’s also a thriving college area complete with dining, arts and cultural opportunities aplenty to enjoy – not to mention job opportunities as well.

• Population: 231,400
• Cost of living index: 00
• Median income: $50,120
• Monthly homeowner costs: $921
• Median rent: $837
• Percent of yearly income spent on housing: 16%

6. Springdale, Arkansas 

Springdale boasts a welcoming, if generally quiet, suburban vibe and feel, which is likely why a mix of young professionals and families proudly call the area home. Despite the city’s good-sized population, you’ll find that it offers an inviting small town feel and strong sense of community.

• Population: 256,600
• Cost of living index: 80
• Median income: $59,027
• Monthly homeowner costs: $891
• Median rent: $995
• Percent of yearly income spent on housing: 5% 

7. Cedar Rapids, Iowa

Cedar Rapids residents enjoy access to great schools, a thriving arts and entertainment scene and dozens of nearby parks. Residents and tourists can explore a unique and popular attraction, The District: Czech Village & New Bohemia, two neighborhoods filled with restaurants, live music and an exciting art scene. 

• Population: 173,200
• Cost of living index: 30
• Median income: $64,435
• Monthly homeowner costs: $835
• Median rent: $625
• Percent of yearly income spent on housing: 6%

8. Columbia, Missouri

Apart from loads of college sports tailgating, the so-called “Athens of the West” boasts attractive architectural flourishes and classical styling alongside modernized health care facilities and entertainment options. Clean, neat and quiet, it’s a peaceful escape from larger cities that still offers many perks.

• Population: 271,800
• Cost of living index: 00
• Median income: $58,067
• Monthly homeowner costs: $968
• Median rent: $850
• Percent of yearly income spent on housing: 8%

9.Lawton, Oklahoma

Families will especially appreciate Lawton’s access to 19 parks and a safe, welcoming living environment. As with other towns in Oklahoma, it boasts a generally lower cost of living that can help you keep your budget requirements down as well. 

• Population: 121,100
• Cost of living index: 40
• Median income: $50,969
• Monthly homeowner costs: $918
• Median rent: $600
• Percent of yearly income spent on housing: 1%

10. Ankeny, Iowa

Working professionals with an active lifestyle and budding families will be drawn to Ankeny’s small-town charm. Beyond the local arts and music scene, you can enjoy easy access to a number of biking and walking trails on which to take in the natural scenery.

• Population: 300,600
• Cost of living index: 00
• Median income: $103,578
• Monthly homeowner costs: $1,327
• Median rent: $1,010
• Percent of yearly income spent on housing: 13%

11. West Des Moines, Iowa

Retirees and families alike will appreciate the city’s safe environment and range of dining and activity options. In addition to its affordable home prices, the town has also been nationally recognized for its wealth of nearby jobs and shopping options.

• Population: 296,200
• Cost of living index: 00
• Median income: $85,731
• Monthly homeowner costs: $1,211
• Median rent: $1,180
• Percent of yearly income spent on housing: 11%

12. Davenport, Iowa

Although Davenport is an industrial hotspot, the river city is celebrated for its attractive neighborhoods, thriving job market and friendly locals. You’ll also enjoy a range of potential housing options at low prices and cheaper cost of living than the national average.

• Population: 161,800
• Cost of living index: 70
• Median income: $54,630
• Monthly homeowner costs: $904
• Median rent: $743
• Percent of yearly income spent on housing: 5%

13. Norman, Oklahoma

Suburban in nature and located in proximity to Oklahoma University, you’ll find many different types of activities at-hand for kids and adults. If you’re into dining, attractions or outdoor activities, all can be enjoyed at reasonable prices in town.

• Population: 244,700
• Cost of living index: 20
• Median income: $61,030
• Monthly homeowner costs: $1,020
• Median rent: $825
• Percent of yearly income spent on housing: 1%

14. Augusta, Georgia

Known for a diverse range of neighborhoods and its solid choice of dining options, Augusta offers generally pleasant weather, numerous amenities and a vibrant community. It’s been rated among the top metropolitan areas in Georgia where families and working pros come to live. 

• Population: 202,596
• Cost of living index: 60
• Median income: $49,838
• Monthly homeowner costs: $1,159
• Median rent: $986
• Percent of yearly income spent on housing: 7%

15. Edmond, Oklahoma

Among the nation’s safest cities, Edmond has many perks that include parks, outdoor facilities and top-notch schools in addition to various shopping and dining choices. Be sure to stop by the historic downtown and take advantage of the city’s minimal commute times as well.

• Population: 345,100
• Cost of living index: 20
• Median income: $102,896
• Monthly homeowner costs: $1,318
• Median rent: $930
• Percent of yearly income spent on housing: 11%

16.Peoria, Illinois

With a feel akin to a large suburb, you’ll find no shortage of bars, restaurants and parks in this popular stopover. A riverfront setting also adds to Peoria’s charm, as does a thriving economy and mix of affordable housing opportunities. 

• Population: 151,400
• Cost of living index: 60
• Median income: $55,955
• Monthly homeowner costs: $919
• Median rent: $700
• Percent of yearly income spent on housing: 6%

17. Tuscaloosa, Alabama

Tuscaloosa’s amenities make it a top choice for homebuyers looking for a location with parks, bars and the opportunity to hang out with young professionals. Home to the biggest public university in the state – the University of Alabama – it makes a great spot to land, especially if you’re a fan of college football.

• Population: 297,600
• Cost of living index: 10
• Median income: $49,005
• Monthly homeowner costs: $955
• Median rent: $811
• Percent of yearly income spent on housing: 6%

18. Greensboro, North Carolina

From coffee shops and restaurants to grocery stores and shopping centers, it’s all within reach in Greensboro. Offering a mix of Southern charm, deep-seated history and a vibrant cultural backdrop, you’ll find no lack of things to keep you busy in town, or in neighboring Winston-Salem. 

• Population: 301,118
• Cost of living index: 25
• Median income: $55,120
• Monthly homeowner costs: $1,221
• Median rent: $1,081
• Percent of yearly income spent on housing: 2%

19. Lynchburg, Virginia

Given the town’s proximity to the James River and Blue Ridge Mountains, Lynchburg is known for offering a comfy blend of natural attractions and city life. Lots of sunshine and a generally healthy lifestyle prove popular selling points in addition to a lower cost of living. 

• Population: 215,200
• Cost of living index: 60
• Median income: $49,076
• Monthly homeowner costs: $937
• Median rent: $1,005
• Percent of yearly income spent on housing: 8%

20. Winston-Salem, North Carolina

It’s hard to beat the Winston-Salem area when it comes to education, with many top-ranked universities and the celebrated UNC School of Arts nearby. Pairing urban perks with a low cost of living and easy access to green spaces, the town’s general overall affordability is just one of many benefits of moving to the area. 

• Population: 251,343
• Cost of living index: 25
• Median income: $54,195
• Monthly homeowner costs: $1,303
• Median rent: $1,011
• Percent of yearly income spent on housing: 2%

21. Broken Arrow, Oklahoma

Rated as one of the best places to live in America, Broken Arrow is praised for its safe neighborhoods, high general quality of life, fast-growing community and affordable homes. The popular Broken Arrow Performing Arts Center also tends to draw a crowd.

• Population: 236,600
• Cost of living index: 50
• Median income: $79,075
• Monthly homeowner costs: $1,212
• Median rent: $1,111
• Percent of yearly income spent on housing: 15%

22. Fayetteville, Arkansas 

Loads of people are moving to Fayetteville to enjoy the area’s gorgeous natural scenery, spend time with its friendly residents and stop by the flagship campus of the University of Arkansas. Top-ranked public schools in academics and athletic pursuits don’t hurt either. 

• Population: 323,500
• Cost of living index: 80
• Median income: $52,991
• Monthly homeowner costs: $927
• Median rent: $1,050
• Percent of yearly income spent on housing: 5%

23. Fargo, North Dakota

You could thank the wealth of outdoor recreational options, strong education system and cheerful community for Fargo’s continuing popularity. Or you could recognize the city’s flourishing arts scene and strong economy. Whatever the case, just know that many families seeking a welcoming and affordable place to live may be happy to call the area home. 

• Population: 257,500
• Cost of living index: 50
• Median income: $59,698
• Monthly homeowner costs: $872
• Median rent: $750
• Percent of yearly income spent on housing: 1%

24. Ames, Iowa 

Ames is a safe and clean place to stroll around and you’ll find that green spaces and outdoor recreation options abound nearby. Home to Iowa State University, residents also celebrate the college town’s solid range of dining and shopping options in addition to its overall affordability. 

• Population: 253,300
• Cost of living index: 10
• Median income: $52,565
• Monthly homeowner costs: $885
• Median rent: $800
• Percent of yearly income spent on housing: 4%

25. Kenner, Louisiana 

Dig seasonal events, outdoor concerts and a host of different playgrounds and parks to explore? Then you’ll enjoy this hidden gem, sandwiched between Lake Pontchartrain and the Mississippi River. There’s plenty to explore in Kenner, including a 16-block historic district and the only planetarium and megadome in the region. 

• Population: 257,000
• Cost of living index: 60
• Median income: $56,906
• Monthly homeowner costs: $1,092
• Median rent: $750
• Percent of yearly income spent on housing: 8%

Other factors to consider before deciding where to live

Keep in mind that money isn’t everything when it comes to your preferred living scenario. As you consider where to live, you’ll also want to take a number of additional variables into account.

Taxes

Prior to picking up and relocating to a new state, it’s important to understand how income and property taxes will play into your budget. Each state boasts a variety of different taxation rates and rules to be aware of, all of which can impact your household finances.

Safety

Especially if you have a family, you’ll want to contemplate how safe the location that you’re considering moving to will be. Ideally, you’ll want to find a destination that boasts low crime rates and offers easy access to clean and safe housing and transportation options. If safety is one of your biggest priorities, make sure you do research on the safest cities to live in the U.S.

Climate

Do you love warm weather year-round or do you prefer to experience each of the four seasons? It’s important to understand how the climate of any area that you’re considering moving to may impact your day-to-day activities, general lifestyle and overall enjoyment – not to mention heating and cooling costs as well.

Job opportunities

Unless you’re retired, it’s important to consider easy access to nearby job opportunities as well. Understanding what shape the local economy is in and what companies the city plays home to are other important factors.

Real estate market

As you think about where to move and where you might want to buy a new home, it’s also critical to understand local real estate conditions. Knowing average prices, best housing options and whether it’s a buyer’s or seller’s market can help when researching and pricing out potential opportunities.

The bottom line

Finding the cheapest places to live in the U.S., and affordable housing in America, can be less challenging than it seems. In fact, literally dozens of great options are available. But when looking to make a move, more should go into your research and set of considerations than simply looking at cost of living.

Interested in learning more about how you can find and finance your dream home? Be sure to check out other articles here at our Learning Center – and consider starting the mortgage process with Rocket Mortgage^® today!

Methodology

Rocket Mortgage collected and analyzed the most recent data on 12 key local and statewide metrics to give us insight into the cheapest cities to live in the US. We analyzed the 478 cities across the U.S. using Rocket Homes^SM listings, with those cities accounting for 71% of the U.S. population. The metrics used in this study include median sale price, income spent on housing-related costs, rent, cost of living, gas prices, sales tax, property tax, income tax and homeowner's insurance costs. These metrics were chosen based on public data availability and topical relevancy. Metrics from the U.S. Census are based on 2022 ACS 1-year estimates.

The weighted scores for each metric were summed to create the overall Cheapest City Score for each city. The final scores are sorted to produce the final rankings.

Other metrics considered, without weight: