Best Cities To Live on a Budget: Americans may not agree on many things these days, but the majority of us can agree that living expenses have skyrocketed. Politicians use the term “inflation” as if it were inevitable or unavoidable, but all that it really means is that we are spending more money on the same necessities that we have always paid for.
The inflation rate in October 2021 was 6.2%. It still stands at 8.2% despite having achieved an amazing peak of 9.1% by June 2022. Finding methods to cut back might be challenging. Finding cities where you may live comfortably on a budget of $4,000 or less is one tactic, even though there are no quick fixes to lower living expenses. That might necessitate moving from where you currently reside because some of the South and Southwest’s most cheap cities.
GOBankingRates compiled information from ApartmentList, Sperling’s Top, the Bureau of Labor Statistics 2021 Consumer Expenditure Survey, and AreaVibes to determine the best cities for people to live on less than $4,000 per month. The top three are listed below.
- 1 bedroom rent in 2022: $759.78
- Costs per month: $3,853.67
The T & M railway required a site for trains to stop along its route, so it established the town of Abilene, Texas, in 1881. Since then, arts, culture, and entertainment have advanced significantly in this historically significant region of Texas, which has a liveability score of 75.
In addition to being affordable, Abilene offers attractions like its Downtown Cultural District, which the visitors bureau describes as a walking procession of live music, museums, performing arts centres, shopping, restaurants, and storybook sculptures. With pathways for bicycling, walking, and horseback riding as well as stunning locations for bird viewing, fishing, and other outdoor activities, it’s also a fantastic location for outdoor enthusiasts.
- 1 bedroom rent in 2022: $736.89
- Costs per month: $3,705.26
Texas takes the top spot on our short list, and Midland, a second town, offers affordability and much more. Due to its respectable amenities and activities, parks, restaurants, and arts and culture, the city, which is conveniently located along Interstate 20 between Fort Worth and El Paso, gets a liveability score of 72.
VisitMidland.com recommends that you see the Summer Mummers, a distinctive performing arts event, look for Midland’s distinctive murals all over the city, or take a day excursion to the adjacent Big Bend National Park.
Los Angeles, California
- 1 bedroom rent in 2022: $696.33
- Costs per month: $3,764.39
The city with the lowest rent and total monthly expenses is Lake Charles, Louisiana, which has a liveability score of 70. However, this does not imply that there is nothing to see or do in the area.
The community is described as having “A Cajun mentality with a Texas flair” by VisitLakeCharles.org. Due to its lakeside location, North Beach, Prien Lake Park, and the Bord du Lac Marina all provide a variety of water sports. Live music is frequently played in casinos, pubs, and eateries like Panoramic Music House. The town also holds a lot of festivals, including the scary Lost Hollows tour, whisky and BBQ events, and Smoke & Barrel.
Methodology: GOBankingRates initially analysed ApartmentList data to find (1) average 2022 one-bedroom rents in order to determine the top places to reside in for less than $4,000 per month. Sperling’s Best was then used by GOBanking Rates to get each city’s (2) overall cost of living index. Next, GOBankingRates found the annual expenditure levels to calculate how much a person may spend monthly living in each city using (3) data from the Bureau of Labor Statistics 2021 Consumer Expenditure Survey. Then, GOBankingRates totalled up all of the monthly expenses. A location had to (4) have a liveability score from AreaVibes of 75 or above in order to be eligible for the study. All data was gathered on October 12, 2022, and is current as of that date.