Cheat inflation: 11 US regions where you can live well for little money

GOBankingRates spoke with real estate professionals and other cost-of-living experts in locations across the country, from big cities to small towns and everything in between. Experts have compiled a list of places where inflation remains one step behind the cost of living. Yahoo.

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The pandemic-driven shift to telecommuting enabled millions of Americans to relocate, but soaring inflation shortly thereafter put a damper on many of those dreams. So what's left for people who want to find a place with a moderate cost of living?

Johnson City - and Tennessee in general

According to the latest census, Tennessee has experienced rapid population growth in recent years as people flock to the state due to low prices and good weather.

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“Tennessee, even with the sudden influx of people, still has an excellent cost of living,” said Eric Wright, owner of NewHorizon Home Buyers. “The average home still costs just $231. Additionally, Tennessee had the largest growth in six-figure jobs, indicating a large amount of disposable income that can help grow businesses as earnings continue to grow.”

One location in the state stands out as a particularly good deal.

“Despite rising inflation, Johnson City is one of the places where you'll pay about half the cost of living compared to Houston,” said Erik Nilsson, homebuilder and founder of Rentola. — Even doctor visits in the state are 60% cheaper than in other states. The area's cost of living score is 65 out of 75.”

Alabama - especially the Auburn area

If you cross the southern border of Tennessee, you will enter one of the best states to live on a budget.

“There are many mid-sized cities in America that are still affordable despite rising inflation,” said Dr. Tenpao Li, professor emeritus of economics at Niagara University. “For example, Buffalo, New York, where the median home sales price in December 2021 was $196. This certainly represents great value for young professionals looking to start their own family.”

Fayetteville, Arkansas

If you're looking for a high quality of life on a budget, you'll be hard pressed to get more for less than in Fayetteville, Arkansas.

“The population in Fayetteville is about 85, which is not that high considering the real estate market in the city,” said Curt Walker, CEO of Cream City Home Buyers. — The average price of a home in Fayetteville is approximately $000, which is significantly less than the average price in the United States. The average annual salary is about $200. This is one of the cheapest places to live in the United States, which makes the standard of living for local residents quite high.”

Cedar Park, Texas

If the Austin lifestyle is what you crave but without such high price tags, consider the next gem.

“Cedar Park, Texas, offers an affordable standard of living due to its close proximity to Austin,” said Ahern Tille, founder and chief attorney of the Bankruptcy Center. - With a median household income of $80, the estimated cost of living is a respectable average of $954. It scores 58 as a city with a number of job opportunities in engineering and architecture, according to the Cost of Living Index. It is safe and secure for families, outdoor activities and entertainment opportunities including restaurants and public parks.”

Pottstown—and small Pennsylvania towns in general

Deborah Ann Spence, real estate broker and owner of Fierce Realty, recommends looking for great deals in small American towns like Pottstown, Pennsylvania.

“It's a small town about 7 miles from downtown Philadelphia, located on the outskirts of Montgomery County, Pennsylvania,” Spence said. — You can buy a house with three bedrooms and one bathroom for $150 or a duplex with two apartments for $000. Home prices have not seen inflation and a large sellers' market in our beautiful little community, just like in outlying communities like Brookhaven, Pennsylvania."

Mid-sized cities like Buffalo, New York

If something like Pottstown is too small, there is a lot of middle ground between it and America's major metropolitan areas.

“There are many mid-sized cities in America that are still affordable despite rising inflation,” said Dr. Tenpao Li, professor emeritus of economics at Niagara University. — For example, Buffalo, New York, where the median home sales price in December 2021 was $196. This is certainly of great value to young professionals who want to start their own family.”

Savannah, GA

Cities with an attractive cost of living can be much smaller than Buffalo and much warmer.

“Savannah, Georgia is one of the cities where the cost of living has held up well against inflation,” said Christina Ortega, owner of Mrs. Property Solutions. — The overall cost of living in the city is 13,3% lower than the national average.

Even though health care in Savannah is more than 10% higher than the US average, this is offset by relatively cheaper utilities, groceries, and transportation costs. In addition, his cost of housing is 36% less than what the typical American pays.”

Suburb of chicago

Many Chicago suburbs have excellent schools and very low cost of living, according to Bill Samuel, a full-time residential real estate developer and founder of Blue Ladder Development.

“For example, Tinley Park, Illinois, is just 30 minutes by car from downtown Chicago, has a variety of local restaurants, access to public transportation and has a median home value of $283,” Samuel said. “The national median home price is $000, and this Chicago suburb is 320 percent less than the national average.”

Greenville, South Carolina

Heading back south, one small town stands out as particularly affordable despite its high standard of living.

“Greenville, South Carolina has weathered the economic damage caused by the COVID pandemic better than many other U.S. communities,” said Reid Hogan of HouseCashin. — From November 2020 to November 2021, the unemployment rate in Greenville fell by nearly half. Greenville's economy is supported by a wide range of employers. More than 40 Fortune 500 companies are represented here, as well as more than 225 international companies. Even after accounting for inflation, the overall cost of living in Greenville is 12% lower than the national average. The median home price in Greenville is $234, which is more than 600 times lower than the median price in other attractive markets such as Austin and Denver.”

Fort Wayne, Indiana

When many people think of the Midwest, they think of a pleasant lifestyle and low cost of living—and in at least one city in Indiana, they would be right.

“The Fort Wayne metro area offers an enviable combination of affordability and convenience,” said Olivia Tan, a Florida-based personal finance coach and co-founder of CocoFax. — This northeastern Indiana city not only has many pleasant and quiet neighborhoods, but also a thriving arts scene with year-round festivals and events. As is usually the case, affordable housing is a major factor in the comparatively low cost of living in a metropolitan area. Residents spend 34% less on housing, including mortgage, rent and related expenses, than the average American to keep a roof over their head. Groceries and utilities are also noticeably cheaper compared to national averages, which helps distinguish Fort Wayne among the cheapest cities in the United States to live.”

Dayton, Ohio

Finally, one medium-sized city in Ohio stands out for weathering the inflation storm better than the state's larger, more established urban centers.

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“I have found that Dayton has remained an affordable place to live until now,” said Stephen J. Spence, a real estate investor. — Like most places in the United States, home prices have risen, as have rents, but the Dayton area has achieved levels that are well below the national average. The reason the Dayton area remained affordable is because many home prices recovered at a slower pace than the rest of the country after the 2008 financial crisis.”

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