The 10 Cheapest Cities In America

The 10 Cheapest Cities In America

Price of T-bone steak: $8.98

Cost of orange juice: $2.98

Average monthly utilities: $146.68

Median rental cost: $798

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $223,371


By Business Insider

Photo: Flickr / Sean Loyless

Price of T-bone steak: $9.57

Cost of orange juice: $2.79

Average monthly utilities: $155.62

Median rental cost: $610

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $217,376

Price of T-bone steak: $8.98

Cost of orange juice: $3.36

Average monthly utilities: $143.15

Median rental cost: $640

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $240,000

"When Memphis showed up in the list, I was really surprised," says Frutiger. "Memphis is a major city." 

Price of T-bone steak: $8.82

Cost of orange juice: $3.27

Average monthly utilities: $134.40

Median rental cost: $705

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $198,268


By Business Insider

Photo: Flickr / MiiiSH

Most of the cities on this list, like Fayetteville, are rather small. So are the low-prices a byproduct of a smaller population? Not exactly, says Frutiger.

"Though some of the cheaper cities do have a population issue—more people means more demand and higher prices—[COLI] does have a population requirement. Not just anyone can participate in the Cost of Living Index." 

Price of T-bone steak: $9.96

Cost of orange juice: $3.23

Average monthly utilities: $142.94

Median rental cost: $551

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $241,400


By Business Insider

Photo: Doug Wertman, flickr.com

Price of T-bone steak: $9.48

Cost of orange juice: $3.07

Average monthly utilities: $144.83

Median rental cost: $657

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $230,439


By Business Insider

Price of T-bone steak: $9.65

Cost of orange juice: $3.22

Average monthly utilities: $145.45

Median rental cost: $516

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $206,667


By Business Insider

Photo: jilly~bean, Flickr.com

"Housing prices are very low in Texas, even in the major cities. Houston, Dallas ... Housing there is relatively inexpensive," Frutiger says.

"A lot of it, too, is the housing size. Two thousand and four hundred square feet in New York is a mansion, but in Texas it's a closet."

Price of T-bone steak: $9.49

Cost of orange juice: $2.98

Average monthly utilities: $167.73

Median rental cost: $749

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $213,850


By Business Insider

Frutiger adds, "You're looking at houses in Texas that are way bigger than anything you'll get in a large Northeastern city, and for a relatively cheaper per square foot price." 

Price of T-bone steak: $6.98

Cost of orange juice: $3.08

Average monthly utilities: $145.80

Median rental cost: $565

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $264,000


By Business Insider

"Every time we release this data, Harlingen makes the news," the economist says with a chuckle, "and the people love it."

In Manhattan, the most expensive U.S. city right now, rent is $2,905 more each month than in Harlingen. 

Even a tube of toothpaste costs $1.73 more in Manhattan.

Price of T-bone steak: $8.14

Cost of orange juice: $2.98

Average monthly utilities: $158.65

Median rental cost: $642

Average home price (2,400 sq. foot, 4 bedrooms/2+ bathrooms): $221,486


By Business Insider

Photo: Sadie Hernandez, Flickr.com

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