Population (metro): 251,948

Unemployment rate: 5.6%

Cost-of-living index: 92.9

Median household income: $52,298

Question: Which city is home to, or close by, 30 Fortune 500 Companies, more than a dozen foreign corporations, and serves as a Midwestern hub for the high-tech, health care and financial sectors? And you thought Cedar Rapids was just home to Quaker Oats. Its economy is bouncing back from a 2008 flood that submerged the downtown district, causing businesses to flee. The city recently broke ground on a $100 million convention complex and is planning a $50 million library, both slated for completion in 2013, which will bring jobs to the area.

The average home price here is just $155,000, which will buy you a four-bedroom, one-and-a-half bath residence with a large backyard in a nice neighborhood. For $500,000, you can come home to a countryside mansion, with seven bedrooms, three fireplaces, hardwood floors and an exercise studio.

Learn more about Cedar Rapids:

Best Value Cities 2011: Read about Cedar Rapid's affordability & culture

VIDEO: Take a walking tour of Cedar Rapids