10 of the most affordable cities in the United States

With interest rates spiking as federal administrators clamp down on inflation, a city that’s affordable is a key factor considered by prospective new and current residents alike. Leaning on a number of metrics, a new ranking from MarketWatch ranks which U.S. cities are the most affordable.

Certain areas of the country were generally less expensive than others.

“Six of the 10 most affordable cities are in the Midwest, three in the South and one in the Northeast,” a brief about the findings notes. “No Western cities are in the top 10, and Ogden, Utah, is the top-ranking affordable city in the West (No. 18)."

The analysis highlights just how much rent has increased in the last decade. Only 22 cities had an average rent of less than $1,000 per month. Nationally, rent averaged nearly $2,000 per month—”nearly 36% higher than five years ago when it stood at $1,469. And in most cities in 2023 (201 out of 223, to be specific), rent averages more than $1,000 per month,” the brief says.

Seven metrics were used to narrow down the cities: unemployment data from the Bureau of Labor Statistics, median household income from the Census Bureau, median home sale price and monthly rent data from Zillow, and grocery, transportation and miscellaneous goods/services costs from the Council for Community and Economic Research.

“Combined groceries, transportation, and miscellaneous goods and services make up 58% of average household expenses, according to Council for Community and Economic Research data,” the brief says. “Housing, which we looked at separately via the median home sale price and median monthly rent, makes up about 28% of average household expenses.”

Visit MarketWatch’s website for the complete list.