In the ever-changing economic landscape in the US, more and more people are considering relocating to a different city or state. Each place is affected differently. Within one state, you can find cities that are growing and developing and cities that are on the decline in many ways. There are many reasons why people decide to move in these times. Some people are looking to move their homes to cheaper places, others wish to capitalize on the opportunities and start their own businesses, and so on. The most important factor for many of those people is affordability. We at State To State Move would like to help you with this decision, so let’s take a look at the most affordable cities in the US in 2023.
What makes a city affordable?
First of all, wages and employment opportunities should be taken into account. Cities with higher wages and more job openings tend to be more affordable. Secondly, rental prices are important. Cities with lower rental prices are often among the most affordable places to live. Third, real estate costs. Real estate prices and real per capita incomes should be examined. Infrastructure is also an important factor. Cities with good transportation systems, access to healthcare, and affordable housing are the most important factors. Finally, crime rates and climate should also be considered. Cities with a lower crime rate and mild climates tend to be more affordable than those with extreme weather patterns and high crime rates. These factors give us an accurate list of the most affordable cities in the US in 2023.
What are the main driving factors behind Americans moving to more affordable cities in the US?
The biggest reasons Americans move to more affordable cities are pretty expected. They either can’t afford to live in their current cities anymore, they have a new job in a different city, or they’re starting over and want to create a family in a different environment. Three main reasons make people relocate to another city are:
- Better housing options
- Better job opportunities
- For family reasons
Of course, there are many more reasons why people move to another place, like for love, in need of a change of scenery, and so on, but the three reasons we have listed above are the most common.
What are the most affordable cities in the US in 2023?
Now that we’ve seen why people decide to relocate let’s take a look at the list of the most affordable cities in the US in 2023. We’ll present to you the 8 most affordable places.
Hickory, North Carolina
Due to a number of factors, Hickory is regarded as one of the most affordable cities in the US in 2023. The cost of living index there is 88.2, which is way below the US average. The cost of living index measures the relative cost of living in a certain area, considering things such as housing, food, transportation, healthcare, etc. Since the average cost of living index in the US is 100, you can see that Hickory is quite affordable. It means its residents have to pay 12% less for all those things mentioned above. The average rent there is $946, and the median home price is $162.000. Also, Hickory is home to many employers, most in the furniture and textile industries. Their jobs help keep the local economy strong and provide jobs for residents.
If Hickory seems like a place where you can see yourself in the future, start planning your move there. Make sure to contact professional movers. They will make moving from Texas to North Carolina straightforward.
If you are planning on moving from Texas to Maryland, look no further than Hagerstown! It’s a city located in the western part of the state and is known for its rich history and proximity to major cities like Baltimore and Washington, DC. The cost of living index there is only 83! When it comes to housing, the median rent in Hagerstown is $1,050, while the average home value is $173,000. Both of these figures are significantly lower than the state averages. The city’s economy is driven by a diverse range of employers, the largest of which are Meritus Health and Mack Trucks. Other significant employers in the area are mostly the state’s and city’s institutions like the Hagerstown Community College, Washington County public schools, etc.
Jacksonville is a large city located in the northeastern part of Florida and is known for its beaches, museums, and outdoor activities. The cost of living index is 101, but the reason why it’s on the list of the most affordable cities in the US is because of its housing market. The cost of living index in terms of housing in Jacksonville is 79.5! That means the average home value is $231,000, while the states and country’s average is almost $300,000. The average rent is around $1,100. When you combine the affordable housing options with the city’s beaches and other outdoor activities, you’ll quickly realize why so many people are moving from Texas to Florida. The city’s economy is reliant on employers like Naval Air Station, a military base, Baptist Health, a healthcare provider, and Fidelity National Information Services.
This great city is ranked as the 6th cheapest place to live in America by US News. The cost of living index there is 90, the median home value is $218,400, and the average rent is $1,462. This city’s nicknames were Blitzburgh and Steel City, as the steel industry was its main driving force for many years. Today it is known as Reinvention City. After the steel mills closed back in the 1980s, the town reinvented itself! It is attracting corporations and businesses from all industries that boost its economy. The cheap housing market, along with the rise in job opportunities, makes this great city one of the most popular destinations for families and young professionals from all over the US. As you can see, this is a perfect place for everyone looking to live in an affordable place where they can have a stable and well-paid job.
Gloucester City, New Jersey
If you are thinking about moving from Texas to New Jersey, you’ll be happy to know that Gloucester City is one of the most affordable cities in the US in 2023! The average home value in New Jersey is almost $400,000, and the US average is slightly less than $300,000. In Gloucester City, the median house cost is $145,000! That is significantly lower, as you can see, and very affordable. Combined with the overall cost of living index of 83.5 and the average rent of just $900, it’s easy to understand why moving here would be a great choice for many Americans. You can find many great job opportunities there. The biggest employers are Canon Environmental Technologies, the County of Gloucester, Riverside Walter Reed Hospital, and many more.
For all the people who would be moving from Texas to Boston or the surrounding area, this entry will make them happy. Northampton is one of the most affordable cities in the US in a state and area that is not known for being affordable! According to the official statistics, the cost of living index in Northampton is 85.1. The average rent for a one-bedroom apartment is around $1,100, while the median home price is around $280,000. Another reason why this city is affordable is that it has a population of around 30,000. Therefore, the demand for housing is lesser than in the bigger cities. It also has a good public transportation system and good access to healthcare and education. All in all, all of these factors contribute to the fact it is now one of the most affordable cities in the US in 2023.
Potomac Heights, Washington DC
Potomac Heights is a suburb of Washington DC, and is the perfect place for all the people who plan on moving from Texas to DC in pursuit of a fresh start and great job opportunities. The cost of living index is 85.6, the average home value is $105,000, and the average rent is $977. It is the perfect place for people who wish to find jobs with close ties to the federal government or private companies with close ties to it.
The proximity to the nation’s capital is the main reason why people choose to move here. It is also known for its beautiful parks and recreational facilities, as well as its excellent school district. The community also enjoys a great public transportation system. This place is a great option for those looking for a suburban lifestyle while still being close to the city. People in the suburbs get to enjoy a peaceful life, all while being well connected with the city center.
Nearing the end of our list, we’ll be now looking at Americus, Georgia. It’s on this list of the most affordable cities in the US in 2023 for some very good reasons. First of all, the cost of living index is only 69.7! What’s really special about this place is how cheap the housing is. The average home value in Americus is only $82,000! The average rent there is below $900. When you compare the average home value to Georgia’s average of $240,000, you’ll immediately realize why so many people wish to move here.
Georgia is generally a very affordable state, but Americus is definitely the most affordable city in this great state. Therefore, you will not make a decision if you decide to move here. Moving from Texas to Georgia will be a huge change, but once you settle in, you will have the time of your life in Georgia!
The final entry in our list of the most affordable cities in the US in 2023 is Memphis. Memphis’ cost of living index is only 77.5. The average home value is $123,800, while the average rent is around $750. These figures are significantly lower than the ones in other major metropolitan areas. One of the main reasons this city is affordable is because of its large population of 650,000 residents. This makes the demand for housing and living expenses lower than in smaller cities.
Moreover, just like the rest of the state, Memphis has no income tax! The only income tax residents need to pay is the one that they earn through dividends and investments. However, it is a flat rate of 1 to 2%, which is pretty low compared to other states. It also has good access to healthcare, education, and transportation system. Top that off with its diverse economy and rich cultural heritage, and you’ll find one of the best places to move to this year! Moving from Texas to Tennessee has many benefits, so make sure to really capitalize on this opportunity.
Conclusion on the most affordable cities in the US in 2023
As you can see from our list of the most affordable cities in the US in 2023, there are a lot of options to choose from. These cities are scattered all over the US. Therefore, if your main criteria are the climate and weather conditions, you will be able to easily find the perfect place for you. Of course, you should really sit down and explore all options. Not only the ones we gave you on this list! There are many other great affordable cities that didn’t make it here. Whatever you decide, take the time to make the best possible decision. Once you are ready to relocate, give us a call or get a free moving quote on our website! We will gladly assist you in the next chapter of your life and help you settle into your new home.