Most Affordable Cities to Live in 2024

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In this study, the Guides Team looked closer at affordability across U.S. cities in 2023. We ranked 223 of the largest U.S. cities by considering seven metrics: income, housing costs, transportation costs and other cost of living categories. Check out our methodology section below for more details on our data and sources used.

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The Midwest comes out ahead, while the West falls behind. Six of the 10 most affordable cities are in the Midwest, three in the South and one in the Northeast. No Western cities are in the top 10, and Ogden, Utah, is the top-ranking affordable city in the West (No. 18).

Two capital cities rank in our top 10. Springfield, Ill., and Jackson, Miss.,— both state capitals — rank as the fourth and sixth-most affordable cities in our study, respectively. Iowa City, the first capital of Iowa that Des Moines later replaced, ranks eighth.

The average rent is less than $1,000 in only 22 cities. Nationally, rent averages almost $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.

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6. Jackson, Miss.
Housing costs in Jackson, Miss., are significantly lower than the national average. The median home sale price in March 2023 was only $120,000, and the median monthly rent was $1,065. Relative to other cities we examined, Jackson has the 15th-lowest home prices and 34th-lowest rents. Transportation in Jackson is also 12.8% lower than prices nationally, according to CCER data from the end of 2022.

7. Alexandria, La.
Alexandria, La., is the third Southern city on our list. Alexandria's median home sale price is the lowest in our study, at only $64,000. For residents looking to rent over buy, the median monthly rent is $1,100. Additionally, transportation in Alexandria is 11.5% lower than the national average.

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