The Most Affordable Suburbs in the US: Moving to a fantastic suburb doesn’t mean you have to break the bank.
We would like to present you with a list we have compiled of the most affordable suburbs in the US, based on a report released earlier this year by Movoto Real Estate. The study takes into account several affordability indicators, such as cost of living, median household income, cost of food, cost of utilities, and property tax rates. In addition, we’ve also included an affordability indicator, which represents a ratio between the median price for a home and the median household income in that particular suburb.
Even though it boasts some of the highest property taxes in the US, Texas scored 4 spots on our countdown. Nonetheless, you should take into account that the Lone Star State does not collect any state income tax. Oklahoma came in second, with 2 suburbs; both of them ranked in the top three most affordable.
Curious to see which are the most affordable suburbs in the US? Let’s take a look at the countdown.
No. 10: Cibolo (Texas)
Overall cost of living (compared with the national average): – 3%
Cost of food (compared with the national average): -16%
Cost of utilities (compared with the national average): -11%
Affordability ratio: 2.38 to one
Median price for a home: $167,100
Median household income: $70,183
Property taxes (compared to the national average): +41%
No. 9: Fishers (Indiana)
Overall cost of living (compared with the national average): +7%
Cost of food (compared with the national average): -8%
Cost of utilities (compared with the national average): -4%
Affordability ratio: 2 to one
Median price for a home: $168,000
Median household income: $83,950
Property taxes (compared to the national average): +6%
No. 8: Schertz (Texas)
Overall cost of living (compared with the national average): -4%
Cost of food (compared with the national average): -16%
Cost of utilities (compared with the national average): -11%
Affordability ratio: 2.45 to one
Median price for a home: $161,000
Median household income: $65,650
Property taxes (compared to the national average): +65%
No. 7: Universal City (Texas)
Overall cost of living (compared with the national average): -10%
Cost of food (compared with the national average): -15%
Cost of utilities (compared with the national average): -9%
Affordability ratio: 2.27 to one
Median price for a home: $129,000
Median household income: $56,812
Property taxes (compared to the national average): +72%
No. 6: Clarksville (Indiana)
Overall cost of living (compared with the national average): – 12%
Cost of food (compared with the national average): -11%
Cost of utilities (compared with the national average): +5%
Affordability ratio: 2.18 to one
Median price for a home: $83,700
Median household income: $38,339
Property taxes (compared to the national average): – 8%
No. 5: Greenwood (Indiana)
Overall cost of living (compared with the national average): -6%
Cost of food (compared with the national average): -7%
Cost of utilities (compared with the national average): -5%
Affordability ratio: 2.87 to one
Median price for a home: $147,600
Median household income: $51,482
Property taxes (compared to the national average): -8%
No. 4: Pearland (Texas)
Overall cost of living (compared with the national average): -6%
Cost of food (compared with the national average): -18%
Cost of utilities (compared with the national average): -9%
Affordability ratio: 2.21 to one
Median price for a home: $168,100
Median household income: $75,945
Property taxes (compared to the national average): +38%
No. 3: Cimarron Hills (Colorado)
Overall cost of living (compared with the national average): -6%
Cost of food (compared with the national average): -7%
Cost of utilities (compared with the national average): -10%
Affordability ratio: 2.65 to one
Median price for a home: $146,900
Median household income: $55,406
Property taxes (compared to the national average): -53%
No. 2: Moore (Oklahoma)
Overall cost of living (compared with the national average): -14%
Cost of food (compared with the national average): -8%
Cost of utilities (compared with the national average): -15%
Affordability ratio: 1.97 to one
Median price for a home: $106,100
Median household income: $53,976
Property taxes (compared to the national average): -8.5%
No. 1: Midwest City (Oklahoma)
Overall cost of living (compared with the national average): -18%
Cost of food (compared with the national average): -8%
Cost of utilities (compared with the national average): -15%
Affordability ratio: 1.73 to one
Median price for a home: $76,600
Median household income: $44,396
Property taxes (compared to the national average): – 24%
If you liked our list of the 10 most affordable suburbs in the US, check out our “7 Biggest US Housing Markets in 2014.” See also “Countries with the lowest cost of living” and “cheapest holiday destinations“.
