10 U.S. Cities Where You Can Find a Good Job and a Cheap Home
These are 10 U.S. cities where you can find a good job and a relatively cheap home.
With inflation, a wobbly job market, and a wildly varying cost of living, where in the U.S. can you make your time and money go the furthest? The financial site GOBankingRates.com looked at the top 200 cities in the U.S. and evaluated their average home price, their average rent, and their typical unemployment rate. These are 10 U.S. cities where you can find a good job and a relatively cheap home. (According to the Motley Fool, the median U.S. home sales price was $436,800 as of the first quarter of 2023—a 32% increase from 2020, when the median was $329,000. The average rent is $2,029 in 2023, Rent.com reports.)
1
Evansville, Indiana
Livability score: 58
In this city in the Hoosier State, the typical home value is $168,401 and the average rent is just $826. An unemployment rate of 2.3% and a median household income of $57,321 makes it easy to see why Evansville made the nationwide top 10.
2
Milwaukee, Wisconsin
Livability score: 61
The city whose biggest claim to fame was as the setting for Laverne & Shirley is going better these days, with a typical home price of $173,931 and a typical rent of $1,160. The 2022 unemployment rate was just 2.4% and the median household income $52,784.
3
Springfield, Missouri
Livability score: 62
The unemployment rate in Springfield is well below the nation's already low numbers: Just 1.9%, indicating near-full employment. The typical home value is $213,892, the average rent $1,227, and the media household income $55,156.
4
Indianapolis, Indiana
Livability score: 65
Indianapolis's average home value ($216,351) and rent ($1,307) are well below the national average, and with an unemployment rate of only 2.2% and a median household income of $68,575, the city scores high for livability.
5
Birmingham, Alabama
Livability score: 65
With a typical home value of $90,289 and an average rent of $1,184, Birmingham made the list with a 2022 unemployment rate of only 2% and a median household income of $51,254.
6
Montgomery, Alabama
Livability score: 65
Montgomery is another city in Alabama that has a relatively low unemployment rate (just 2.5% in 2022), along with a typical home value of $127,789 (one-third of the national average) and a typical rent of $1,168 (about 40% of the national average). Nearly 60% of locals participate in the labor force.
7
Sioux Falls, South Dakota
Livability score: 70
In Sioux Falls, the average home price is higher than many on this list—$302,956—but so is the average household income, at $85,908.
8
Fort Wayne, Indiana
Livability score: 75
In another entry for the Hoosier State, Fort Wayne boasts a labor force participation rate of 64.9% and a 2022 unemployment rate of 2.2%. The typical home costs $202,934, the average rent is $1,121, and the median household income is just north of $67,000 annually.
9
Huntsville, Alabama
Livability score: 79
In Huntsville, the 2022 unemployment rate was only 1.8%. The typical home costs $257,800 and the average rent will run you $1,434—but the median household income is a comparatively whopping $84,059.
10
Lincoln, Nebraska
Livability score: 78
In Lincoln, more than 71% percent of locals participate in the labor force, amounting to an unemployment rate of only 2.1%. The average home may seem pricey compared to others on this list—$259,208—but the city's median household income is a generous $83,418, well above the national average of $70,784.
