10 Midwestern Cities With Plenty of Jobs and Cheap Housing
Finding a place to live that's affordable and also offers plentiful job opportunities can be difficult, especially in the current economic climate. Fortunately, the Midwest offers a number of options for people who are seeking both.
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To identify cities in the U.S. that have plenty of jobs and cheap housing, GOBankingRates gathered information on the 200 biggest housing markets in the U.S., according to Zillow, including the typical home value and monthly rent as of February 2023. We also analyzed the metro unemployment rate, according to the December 2022 Bureau of Labor Statistics data.
The Midwestern cities identified here represent places that score the best across all three factors, with all factors falling below the national average. Here's a look at 10 cities in the Midwest to consider if you're looking for cheap housing and employment opportunities.
1. Evansville, Indiana
Typical home value: $168,401
Typical rent: $826
2022 unemployment rate: 2.3%
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2. Springfield, Missouri
Typical home value: $213,892
Typical rent: $1,227
2022 unemployment rate: 1.9%
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3. Fort Wayne, Indiana
Typical home value: $202,934
Typical rent: $1,121
2022 unemployment rate: 2.2%
4. Lincoln, Nebraska
Typical home value: $259,208
Typical rent: $1,199
2022 unemployment rate: 2.1%
5. Milwaukee
Typical home value: $173,931
Typical rent: $1,160
2022 unemployment rate: 2.4%
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6. Sioux Falls, South Dakota
Typical home value: $302,956
Typical rent: $1,178
2022 unemployment rate: 2%
7. Indianapolis
Typical home value: $216,351
Typical rent: $1,307
2019 unemployment rate: 2.2%
8. St. Louis
Typical home value: $141,077
Typical rent: $1,227
2019 unemployment rate: 2.5%
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9. Kansas City, Missouri
Typical home value: $215,545
Typical rent: $1,282
2019 unemployment rate: 2.4%
10. Wichita, Kansas
Typical home value: $180,023
Typical rent: $964
2019 unemployment rate: 2.9%
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Methodology: In order to identify cities in the U.S. that have plenty of jobs and cheap housing, GOBankingRates gathered information on the top 200 biggest housing markets in the U.S., according to Zillow. To be considered for ranking, each city had to have data available on: (1) its February 2023 typical home value, according to Zillow, (2) its February 2023 typical monthly rent, according to Zillow and (3) its Metro Statistical Area unemployment rate, according to the December 2022 Bureau of Labor Statistics data. The 65 cities in the final ranking have values lower than the U.S. national average in all 3 of the above factors. The highlighted cities were then scored on all three factors and ranked against each other, with factors (1) and (2) carrying half as much weight as factor (3). All data was collected on and up to date as of March 14, 2023.
This article originally appeared on GOBankingRates.com: 10 Midwestern Cities With Plenty of Jobs and Cheap Housing
