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
Post a Comment