real estate

3 Cheapest Places to Live in the U.S.

The cost of living is super-low in these three cities.

Looking for the most affordable cities in America? Start your search in Texas. The Lone Star State is home to the two cheapest places to live in the U.S. But before you pack your bags, weigh the pros and cons that come with such super-low living costs.

1. McAllen, Texas

City Population: 140,269

Cost of Living: 23.7% below U.S. average

Median Household Income: $44,254 (U.S.: $53,889)

Median Home Value: $115,400 (U.S.: $178,600)

Average Monthly Rent: $629 (U.S.: $1,004)

Unemployment Rate: 7.8% (U.S.: 4.9%)

Highlight: Quinta Mazatlan birding center

2. Harlingen, Texas

City Population: 65,774

Cost of Living: 20.6% below U.S. average

Median Household Income: $34,466 (U.S.: $53,889)

Median Home Value: $80,600 (U.S.: $178,600)

Average Monthly Rent: $662 (U.S.: $1,004)

Unemployment Rate: 7.2% (U.S.: 4.9%)

Highlight: A short drive to South Padre Island

3. Kalamazoo, Mich.

City Population: 76,041

Cost of Living: 20.0% below U.S. average

Median Household Income: $33,009 (U.S.: $53,889)

Median Home Value: $96,600 (U.S.: $178,600)

Average Monthly Rent: $671 (U.S.: $1,004)

Unemployment Rate: 4.2% (U.S.: 4.9%)

Highlight: Western Michigan University

See the full list of the cheapest U.S. cities to live in.

Most Popular

Refunds for $10,200 Unemployment Tax Break to Begin This Month
Coronavirus and Your Money

Refunds for $10,200 Unemployment Tax Break to Begin This Month

The IRS will start issuing automatic refunds sometime in May to people eligible for the unemployment benefit tax exemption.
May 1, 2021
Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs
Coronavirus and Your Money

Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs

People have lots of questions about the new $3,000 or $3,600 child tax credit and the advance payments that the IRS will send to most families in 2021…
May 4, 2021
10 Dividend Growth Stocks You Can Count On
dividend stocks

10 Dividend Growth Stocks You Can Count On

What should investors prioritize in dividend growth stocks? A history of aggressive payout expansion, and the ability to generate enough cash to keep …
May 3, 2021

Recommended

Estate-Planning Your Stuff with T. Eric Reich
Empty Nesters

Estate-Planning Your Stuff with T. Eric Reich

What to do with the house, the vacation house and the china? We talk with a financial adviser who's got some wise counsel. Also, who makes up the so-c…
May 2, 2021
11 Places That Will Pay You to Live There
real estate

11 Places That Will Pay You to Live There

Working remotely? You may want to check out these places that'll pay you to move there.
April 23, 2021
What You Need to Know about College 529 Savings Plans
529 Plans

What You Need to Know about College 529 Savings Plans

Do you know how much you’re able to contribute or what the funds could be used to pay for? How about how contributing affects your taxes? Check out th…
April 14, 2021
37 Ways to Earn Extra Cash in 2021
business

37 Ways to Earn Extra Cash in 2021

We flag a wide variety of cool side hustles to earn bonus bucks to cover expenses expected and unexpected as we begin to emerge from the pandemic lock…
April 8, 2021