50 US Cities With Plenty of Jobs and Cheap Housing
With many American families struggling with high rent, credit card debt and student loans, it may be difficult to find an affordable place to lay down roots. Finding a place to live with good-paying jobs and affordable housing is certainly a delicate balance. Many U.S. cities have one or the other, with American families assuming that a city with decent wages will come with high housing costs. But luckily, there are plenty of cities that offer the best of both worlds.
To determine which U.S. cities have plenty of jobs and cheap housing, GOBankingRates analyzed factors such as median listing price, typical market rent and unemployment rate. To qualify, each city had to have values lower than the national average in each category. This study then scored the 50 qualifying cities based on the three factors above, with the lowest value as the most desirable city. GOBankingRates also looked at the labor force participation rate, median household income and livability score for each city. Livability is always scored out of a possible 100. This study is ranked from highest to lowest value, with the No. 1 city being the best.
The Lone Star State has 12 cities on this list; surprisingly, Florida is the second-highest state with only five cities on the list. So, rest assured that there is a city in nearly every state that provides a great balance to live comfortably. Find out if your city has cheap housing and job opportunities.
Last updated: Sept. 4, 2020
50. Fort Myers, Florida
Median list price: $259,900
Monthly market rent: $1,570
Unemployment rate: 4.8%
Labor force participation rate: 51.2%
Median household income: $41,742
Livability score: 70
49. Mesa, Arizona
Median list price: $280,000
Monthly market rent: $1,440
Unemployment rate: 4.5%
Labor force participation rate: 63.9%
Median household income: $58,247
Livability score: 77
48. Saint Petersburg, Florida
Median list price: $277,250
Monthly market rent: $1,440
Unemployment rate: 4.2%
Labor force participation rate: 65.1%
Median household income: $58,057
Livability score: 72
47. Worcester, Massachusetts
Median list price: $249,900
Monthly market rent: $1,410
Unemployment rate: 4.4%
Labor force participation rate: 59.4%
Median household income: $46,967
Livability score: 60
46. New Bedford, Massachusetts
Median list price: $254,850
Monthly market rent: $1,250
Unemployment rate: 4.6%
Labor force participation rate: 64.0%
Median household income: $48,762
Livability score: 59
45. Aurora, Illinois
Median list price: $209,900
Monthly market rent: $1,430
Unemployment rate: 4.7%
Labor force participation rate: 73.2%
Median household income: $69,463
Livability score: 72
44. Richmond, Virginia
Median list price: $269,540
Monthly market rent: $1,260
Unemployment rate: 4.4%
Labor force participation rate: 64.6%
Median household income: $48,987
Livability score: 76
43. Pittsburgh
Median list price: $220,000
Monthly market rent: $1,330
Unemployment rate: 4.6%
Labor force participation rate: 62.8%
Median household income: $47,417
Livability score: 72
42. Saint Paul, Minnesota
Median list price: $227,900
Monthly market rent: $1,370
Unemployment rate: 4.4%
Labor force participation rate: 70.0%
Median household income: $59,033
Livability score: 64
41. Lawrence, Kansas
Median list price: $239,450
Monthly market rent: $1,070
Unemployment rate: 4.7%
Labor force participation rate: 71.6%
Median household income: $50,985
Livability score: 69
40. Manchester, New Hampshire
Median list price: $245,000
Monthly market rent: $1,450
Unemployment rate: 3.9%
Labor force participation rate: 69.4%
Median household income: $60,232
Livability score: 63
39. College Station, Texas
Median list price: $269,900
Monthly market rent: $1,190
Unemployment rate: 4.1%
Labor force participation rate: 56.4%
Median household income: $50,397
Livability score: 83
38. Lakeland, Florida
Median list price: $199,900
Monthly market rent: $1,270
Unemployment rate: 4.6%
Labor force participation rate: 57.8%
Median household income: $46,593
Livability score: 71
37. Omaha, Nebraska
Median list price: $229,998
Monthly market rent: $1,150
Unemployment rate: 4.5%
Labor force participation rate: 70.0%
Median household income: $59,266
Livability score: 75
36. Bowling Green, Kentucky
Median list price: $242,500
Monthly market rent: $1,000
Unemployment rate: 4.6%
Labor force participation rate: 69.0%
Median household income: $38,665
Livability score: 70
35. Melbourne, Florida
Median list price: $274,995
Monthly market rent: $1,400
Unemployment rate: 3.6%
Labor force participation rate: 57.3%
Median household income: $49,142
Livability score: 75
34. Cape Coral, Florida
Median list price: $261,750
Monthly market rent: $1,450
Unemployment rate: 3.6%
Labor force participation rate: 56.5%
Median household income: $60,197
Livability score: 85
33. Kansas City, Missouri
Median list price: $196,637
Monthly market rent: $1,120
Unemployment rate: 4.7%
Labor force participation rate: 68.6%
Median household income: $54,372
Livability score: 64
32. Grand Prairie, Texas
Median list price: $249,900
Monthly market rent: $1,350
Unemployment rate: 3.8%
Labor force participation rate: 69.3%
Median household income: $63,289
Livability score: 83
31. Yakima, Washington
Median list price: $279,925
Monthly market rent: $1,240
Unemployment rate: 3.7%
Labor force participation rate: 57.7%
Median household income: $48,942
Livability score: 64
30. Tyler, Texas
Median list price: $249,900
Monthly market rent: $1,090
Unemployment rate: 4.1%
Labor force participation rate: 62.0%
Median household income: $53,962
Livability score: 77
29. Arlington, Texas
Median list price: $260,000
Monthly market rent: $1,310
Unemployment rate: 3.6%
Labor force participation rate: 71.4%
Median household income: $63,091
Livability score: 80
28. Little Rock, Arkansas
Median list price: $219,975
Monthly market rent: $880
Unemployment rate: 4.7%
Labor force participation rate: 66.6%
Median household income: $47,996
Livability score: 61
27. Livonia, Michigan
Median list price: $209,900
Monthly market rent: $1,270
Unemployment rate: 4.1%
Labor force participation rate: 68.5%
Median household income: $77,892
Livability score: 84
26. Greenville, South Carolina
Median list price: $265,000
Monthly market rent: $1,200
Unemployment rate: 3.7%
Labor force participation rate: 69.1%
Median household income: $61,748
Livability score: 73
Find Out: The 50 Hardest Places To Sell a Home
25. Norman, Oklahoma
Median list price: $247,616
Monthly market rent: $1,020
Unemployment rate: 4.1%
Labor force participation rate: 65.7%
Median household income: $56,827
Livability score: 81
24. Johnson City, Tennessee
Median list price: $199,500
Monthly market rent: $940
Unemployment rate: 4.6%
Labor force participation rate: 58.7%
Median household income: $45,359
Livability score: 72
23. Beaumont, Texas
Median list price: $199,900
Monthly market rent: $1,080
Unemployment rate: 4.2%
Labor force participation rate: 58.1%
Median household income: $42,249
Livability score: 71
22. San Angelo, Texas
Median list price: $189,700
Monthly market rent: $1,020
Unemployment rate: 4.3%
Labor force participation rate: 65.9%
Median household income: $51,745
Livability score: 82
21. North Charleston, South Carolina
Median list price: $215,990
Monthly market rent: $1,300
Unemployment rate: 3.5%
Labor force participation rate: 66.5%
Median household income: $46,823
Livability score: 65
20. Springfield, Missouri
Median list price: $160,000
Monthly market rent: $780
Unemployment rate: 4.6%
Labor force participation rate: 53.7%
Median household income: $33,879
Livability score: 65
19. Abilene, Texas
Median list price: $199,900
Monthly market rent: $950
Unemployment rate: 3.9%
Labor force participation rate: 61.9%
Median household income: $46,383
Livability score: 83
18. Lincoln, Nebraska
Median list price: $249,000
Monthly market rent: $1,030
Unemployment rate: 3.3%
Labor force participation rate: 72.3%
Median household income: $55,388
Livability score: 80
17. Bryan, Texas
Median list price: $219,900
Monthly market rent: $1,040
Unemployment rate: 3.5%
Labor force participation rate: 61.1%
Median household income: $47,452
Livability score: 82
16. Broken Arrow, Oklahoma
Median list price: $214,949
Monthly market rent: $940
Unemployment rate: 3.7%
Labor force participation rate: 67.5%
Median household income: $70,476
Livability score: 83
15. Oklahoma City
Median list price: $200,000
Monthly market rent: $950
Unemployment rate: 3.8%
Labor force participation rate: 67.8%
Median household income: $53,973
Livability score: 76
14. Fargo, North Dakota
Median list price: $242,500
Monthly market rent: $940
Unemployment rate: 3.4%
Labor force participation rate: 74.3%
Median household income: $51,839
Livability score: 75
13. Billings, Montana
Median list price: $249,000
Monthly market rent: $1,150
Unemployment rate: 2.9%
Labor force participation rate: 67.1%
Median household income: $57,692
Livability score: 63
12. McAllen, Texas
Median list price: $225,000
Monthly market rent: $920
Unemployment rate: 3.4%
Labor force participation rate: 62.3%
Median household income: $45,495
Livability score: 63
11. Independence, Missouri
Median list price: $129,000
Monthly market rent: $930
Unemployment rate: 4.1%
Labor force participation rate: 65.1%
Median household income: $55,323
Livability score: 85
10. Rochester, Minnesota
Median list price: $275,950
Monthly market rent: $1,230
Unemployment rate: 2.2%
Labor force participation rate: 69.5%
Median household income: $70,094
Livability score: 82
9. Mesquite, Texas
Median list price: $195,000
Monthly market rent: $1,230
Unemployment rate: 2.9%
Labor force participation rate: 69.0%
Median household income: $56,936
Livability score: 78
8. Newport News, Virginia
Median list price: $194,000
Monthly market rent: $1,140
Unemployment rate: 3.0%
Labor force participation rate: 66.7%
Median household income: $50,180
Livability score: 73
7. Amarillo, Texas
Median list price: $189,000
Monthly market rent: $820
Unemployment rate: 3.5%
Labor force participation rate: 67.4%
Median household income: $50,234
Livability score: 78
Read: 23 Things You Can Do to Recession-Proof Your Apartment
6. Sioux Falls, South Dakota
Median list price: $228,250
Monthly market rent: $970
Unemployment rate: 2.8%
Labor force participation rate: 74.8%
Median household income: $56,670
Livability score: 73
5. Appleton, Wisconsin
Median list price: $175,000
Monthly market rent: $1,050
Unemployment rate: 2.9%
Labor force participation rate: 66.9%
Median household income: $60,021
Livability score: 77
4. Lubbock, Texas
Median list price: $195,000
Monthly market rent: $980
Unemployment rate: 2.8%
Labor force participation rate: 64.5%
Median household income: $48,042
Livability score: 78
3. Sterling Heights, Michigan
Median list price: $209,000
Monthly market rent: $1,330
Unemployment rate: 2.0%
Labor force participation rate: 64.3%
Median household income: $60,631
Livability score: 80
2. Fort Smith, Arkansas
Median list price: $159,200
Monthly market rent: $750
Unemployment rate: 3.4%
Labor force participation rate: 61.1%
Median household income: $45,496
Livability score: 62
1. Cedar Rapids, Iowa
Median list price: $162,500
Monthly market rent: $910
Unemployment rate: 2.7%
Labor force participation rate: 69.4%
Median household income: $59,603
Livability score: 76
More From GOBankingRates
Methodology: In order to identify cities in the U.S. that have plenty of jobs and cheap housing, GOBankingRates gathered information on the top 475 biggest housing markets in the U.S., according to Zillow. To be considered for the ranking, each city had to have data available on: 1) its median listing price (for single-family, condominium and co-operative housing), according to Zillow; 2) its typical market rent (for multifamily, single-family, condominium and co-operative housing), according to Zillow; and 3) its unemployment rate, according to the 2018 American Community Survey. To move on, cities had to have values lower than the U.S. average in all three of the above categories. GOBankingRates then scored the 50 qualifying cities on the above three criteria, with the lowest values considered most desirable. Finally, GOBankingRates ranked each city based on its cumulative score for all three criteria, with factors No. 1 and No. 2 each carrying half as much weight as factor No. 3 to capture that they are both a measure of housing affordability. All research was conducted on and up to date as of Jan. 30, 2020.
This article originally appeared on GOBankingRates.com: 50 US Cities With Plenty of Jobs and Cheap Housing
