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5 Cities with a Surprisingly Affordable Cost of Living

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Sep 14, 2020 07:00 AM

By: PRMI

Want to keep your monthly costs down? The city you live in could make a huge difference. Primary Residential Mortgage Inc. put together this list of cities with a surprisingly low cost of living, mostly because of housing prices. If you’re looking to relocate and want smaller monthly bills, these are the places to buy a home.

Omaha, Nebraska

Omaha has some of the most affordable homes around for cities of similar size. Want smaller monthly payments? Buy a home in Omaha. Omaha is bigger than you might think, meaning it will be easy to find fun things to do whether you want to visit the museum, see a concert or go shopping with friends. It’s the 40th largest city in the country by population. That’s bigger than Miami, Oakland, Minneapolis or New Orleans. Plus, you’ll live in almost the dead center of the country.

Louisville, Kentucky

If the plains aren’t your thing, how about living the birthplace of the iconic Louisville Slugger baseball bat? Take a swing at living in Louisville and you’ll see the home prices are a homerun for anyone trying to keep costs down.

Louisville sits right on the Ohio River and is less than a two-hour drive from both Cincinnati and Indianapolis.

Memphis, Tennessee

Heading downriver we come to Memphis on the mighty Mississippi. If you love that Southern style, but still want to live in a city and keep costs down, buy a home in Memphis. The home prices are affordable and the city is full of history.

Memphis is home to the National Civil Rights Museum, historic Beale Street and Graceland, the home of the king himself, Elvis Presley.

Oklahoma City, Oklahoma

Want to live where “the wavin’ wheat can sure smell sweet when the wind comes right behind the rain” and pay less while doing it? Buy a home in Oklahoma City. Not only are the housing prices in Oklahoma City fantastic, it’s the only city on this list with a major sports franchise, the Oklahoma City Thunder. You could live in Oklahoma City, have more money and still see all your favorite NBA stars. Looks like you’re doing OK.

El Paso, Texas

Out in the West Texas town of El Paso, you can find great deals when buying a home. You’ll fall in love with this border town thanks to its low cost of living. And did we mention that Texas has no state income tax? Enjoy the Southwest and keep more money in your wallet—buy a home in El Paso.

Where you live can have a huge effect on your finances. Living in a place you can comfortably afford reduces stress and gives you confidence in your financial future. Choose your city wisely. When you’re ready to relocate and get the most out of your monthly budget, PRMI is here to help you with the financing.

Contact a PRMI Loan Officer today!

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