10 US cities with lots of jobs and cheap housing

10 US cities with lots of jobs and cheap housing

With so many American families struggling with high rent, credit card debt, and student loans, finding an affordable place to put down roots can be difficult. Finding a place to live with well-paying jobs and affordable housing is a delicate balance. Many American cities have one or the other, as American families assume that a town with decent wages will come with high housing costs. But fortunately, there are plenty of cities that offer the best of both worlds.

To determine which cities in the United States have plenty of jobs and affordable housing, GOBankingRates compiled information on the 200 largest housing markets in the United States, according to Zillow. We combined available data regarding the typical home value and monthly rent as of February 2023 and the unemployment rate in the metro statistical area, according to December 2022 Bureau of Labor Statistics data.

The ten cities in the final ranking have values below the US national average in the above factors. Additional data on labor force participation and degree of living were collected from the American Community Survey and AreaVibes. Keep reading to determine if your city has cheap housing and job opportunities.

Birmingham, Alabama

Typical home value: $90,289

Typical rent: $1,184

Unemployment rate 2022: 2.0

Labor Force Participation Rate: 58.9%

Median household income: $51,254

Compatibility score: 65

Evansville, Indiana

Typical home value: $168,401

Typical rent: $826

The unemployment rate in 2022: 2.3%

Labor Force Participation Rate: 62.3%

Median household income: $57,321

Compatibility score: 58

Springfield, Missouri

Typical home value: $213,892

Typical rent: $1,227

The unemployment rate in 2022: 1.9%

Labor Force Participation Rate: 63.8%

Median household income: $55,156

Compatibility score: 62

Fort Wayne, Indiana

Typical home value: $202,934

Typical rent: $1,121

The unemployment rate in 2022: 2.2%

Labor force participation rate: 64.9%

Median household income: $67,090

Compatibility score: 75

Huntsville, Alabama

Typical home value: $257,800

Typical rent: $1,434

The unemployment rate in 2022: 1.8%

Labor Force Participation Rate: 62.2%

Median household income: $84,059

Compatibility score: 79

Montgomery, Alabama

Typical home value: $127,789

Typical rent: $1,168

Unemployment rate 2022: 2.5%

Labor Force Participation Rate: 59.6%

Median household income: $60,908

Compatibility score: 65

Lincoln, Nebraska

Typical home value: $259,208

Typical rent: $1,199

The unemployment rate in 2022: 2.1%

Labor force participation rate: 71.1%

Median household income: $83,418

Compatibility score: 78

Milwaukee, Wisconsin

Typical home value: $173,931

Typical rent: $1,160

The unemployment rate in 2022: 2.4%

Labor force participation rate: 64.1%

Median household income: $52,784

Compatibility score: 61

Sioux Falls, South Dakota

Typical home value: $302,956

Typical rent: $1,178

2022 Unemployment Rate: 2%

Labor force participation rate: 74.4%

Median household income: $85,908

Compatibility score: 70

Indianapolis, Indiana

Typical home value: $216,351

Typical rent: $1,307

The unemployment rate for 2019: 2.2%

Labor Force Participation Rate: 67.8%

Median household income: $68,575