Downtown Living: Most Affordable Cities in the US

There are plenty of downtown ZIP codes in America where you can live on the cheap while still enjoying lots of amenities and attractions. One of the major factors in determining which city might be right for you is if you are planning to rent or buy a home. Median home prices on the list of 30 cities run from a high of $518,000 to a low of $145,900, while rents range between a low of $836 and a high of $1,781. So, even on a list of the most affordable downtowns, there is plenty of variance in costs.

Most of the affordable downtowns in the U.S. can be found in the Midwest and the Southeast, with Florida topping the list with five entrants.

Although all of these cities are considered affordable, they each have their own distinct style and personality. While costs might be an important factor in helping you choose where to live, remember to evaluate the amenities and personality of a city before you take the next step.

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Methodology: GOBankingRates used Google Maps, individual city websites and websites devoted specifically to a city’s downtown to determine the area considered “downtown” in each city in the study. ZIP codes were used to approximate downtown areas. With downtown ZIP codes identified, the study analyzed 95 downtowns in terms of the following criteria: (1) median home price, sourced from Zillow’s March 2019 index; if prices weren’t available from Zillow, Redfin was sourced instead; (2) median rent, sourced from Zillow’s March 2019 index; (3) monthly cost of utilities, sourced from Numbeo.com; (4) cost of monthly public transportation pass, sourced from Numbeo.com. Each factor was given a score, combined and then ranked.

Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the exact ZIP codes or locations listed in this article.

Data is accurate as of October 14, 2019, and is subject to change.

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