The cost of living or COL in a city plays a vital role when you’re considering a job offer. It’s a key factor in salary negotiations, and you can use it to compare the cost of keeping the same living standards in varied locations. Hence, to rank the cities with the lowest COL, we used Sperling’s Best Places cost of living index (as of December 2016); Bureau of Labor Statistics (BLS); and the U.S. News’ latest price indexes.
Top 5 Cities with the Lowest Cost of Living in the United States
1. Des Moines, Iowa
Median Home Price or MHP: $119,400
Median Household Income or MHI: $46,430
Iowa’s capital is the only one out of the 100 largest metro areas with a COL 25% (82.70) lower than the country’s normal score. Further, with a jobless rate of 4.40% and a job growth of 0.70%, accepting a job offer in Des Moines will be a wise decision. It houses around 60 firms, mainly insurance and agriculture-related trades. Thus, many brand it the “gentle” big city that has kept a small-town feel with large city features. In contrast, it lacks amusement and nightlife.
2. Omaha, Nebraska
With a COL 12% (88) lower than the country’s normal score; a jobless rate of 3.40%; and a job growth of 0.64%, Omaha doesn’t fall far from the top. It has always been a gateway and transportation center. Likewise, its diverse economy today includes food production and insurance. The housing values throughout the place are rather excellent. Further, it’s another plus value for the city.
3. Indianapolis, Indiana
This city shows a merged city-county government, which has worked well for organized planning and public redevelopment efforts. Besides, its COL 9.60% (90.40) lower than the United States’ normal score is quite attractive. The jobless rate of 4.60% and a job growth of 2.74% are a people-pleaser along with the much renewed downtown, too. In particular, this includes new buildings, pedestrian zones, and a hi-tech sports arena.
4. Grand Rapids, Michigan
For being the main cultural and business hub of Western Michigan, Grand Rapids’ COL 12.80% (87.20) lower than the country’s normal score attracts most job seekers. In addition, its jobless rate is 4.50% and job growth is 3.20%.
5. Fayetteville, Arkansas
MHI: $ 37,350
Besides short commute time and low crime rate, Fayetteville’s cost of living 8.60% (87.20) lower than the United States’ normal score add to its appeal. In the same way, its jobless rate of 3.30% and job growth of 6.13% help this city make it to the top five.
Studying Sperling’s Best Places cost of living index and other price indexes can help you choose the ideal city where you can work well and save more. Therefore, if you need advice from experts and resume writing services to increase your chances of getting a job, Resume Professional Writers can help you. Get in touch with us to learn more about our offers and services.
Sources: realestate.usnews.com | www.bls.gov | www.bestplaces.net