Another Top-10 List — Most Affordable Places to Live in the U.S. 2018

While a great amount of press and studies are done on things that are most expensive, there is also the other end of the economic spectrum, i.e. things and places that are the most affordable.  When it comes to real estate we always talk about affordability, which in itself is difficult to express in a few numbers since the quality of life, schools and even health care are so variable.

Each year since 2015, has calculated the most affordable places to live.  SmartAsset uses the following metrics to come up with these rankings that essentially look at the expenses to buy and own a home in the past five years as a percentage of median household income.  Included in their analysis was every city in the country with a population greater than 5,000.

They included in their study:

  • Closing Costs
  • Real Estate Taxes
  • Homeowners Insurance
  • Annual Mortgage Payments – Think Interest Rates (which vary from city-to-city on the same day)
  • Median Household Income

What towns and cities are the most affordable based on SmartAsset’s methodology?  The 10 most affordable are listed in the following table along with annual mortgage payments, property tax, insurance and median income – plus typical closing costs.  Note that all of these are lesser populated markets.

To read the entire study from SmartAsset click

These are small towns and cities.  Pecos, Texas, for example, has less than 10,000 people.  Blackwell, Oklahoma has less the 7,000 and Holbrook, Arizona is just above 5,000.  Progresso, Texas is 6,000.  But if people are looking for pure housing affordability, these are towns to consider.


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