The cost of owning and renting a home has become a hot button topic in recent years. Housing costs have gone up, and many people are unable to afford their own homes. Young people are often drowning in school loans and other debt, simply unable to save up for a house. Living in a city with a high cost of living like San Francisco or New York City can exacerbate this problem even more. Conversely, living in an affordable city can help you lower your costs and allow you to save up enough money to purchase your own home. So which areas have the lowest costs? Here are the most affordable cities to live in.
Buffalo is often considered the forgotten city of New York state. The city is often overshadowed by the more populous New York City and the more politically important Albany. To make matters worse, much of the industry that built Buffalo up has either left or become irrelevant. However, Buffalo is beginning to bounce back. Industries like healthcare are starting to take notice of the city, leading to an influx of new jobs and a better local economy. One major problem of Buffalo still exists, it’s horrible winter weather. Winters in Buffalo are often extremely cold and filled with several feet of snow. However, if you can survive these harsh winters you can take advantage of some extremely low housing prices and a local economy that is primed to bounce back.
Much like Buffalo, Pittsburgh has recently gone through some extremely tough times. The city’s iconic steel mills began to close up, and with their departure the local economy tanked. However, Pittsburgh is in the midst of a renaissance of sorts, completely reinventing itself as a tech city. The local economy is beginning to bounce back, creating plenty of jobs for young professionals. In addition, one can find Pittsburgh houses for sale for a relatively cheap price, well below the national average. The Steel City may not be all about manufacturing anymore, but it is rapidly becoming a great and affordable place to live.
Memphis is one of Tennessee’s most populous cities, so you would expect the area to be quite pricey. However, that is not the case. Buying and renting a home in Memphis is extremely cheap, making it one of the best cities to live in. In fact, Memphis is one of the cheapest cities to rent a home in, making it perfect for those that are just starting their career. The city also enjoys other low costs as well such as low gas prices and cheap food costs. Finally, Memphis has no state, county, or income taxes that need to be paid. Combine all of this together and you have one of the most affordable cities to live in, especially for younger people that are just starting their careers.
When looking for affordable cities to live in, Birmingham seemingly has it all. The city is large enough to sustain any entertainment desires you may have, and Birmingham has plenty of restaurants to pick from. In addition, the climate is extremely good as well, often having extremely mild winters. When it comes to housing, Birmingham is extremely affordable and offers a wide range of options to pick from. No matter where you choose to live in the city or what type of real estate you choose to purchase, it will likely be cheaper than a comparative purchase in bigger cities.