Jeff Schultes/Shutterstock
- GOBankingRates’ new data ranks the best places to live for people who want to save money. The site looked at income and overall costs of living to assemble the ranking, including things like housing, transportation, and food costs.
- The data shows that many of the best cities for saving are clustered in Texas and throughout the Midwest, including cities like Oklahoma City, Oklahoma and El Paso, Texas taking the top spots.
- Visit Business Insider’s homepage for more stories.
For people who want to save money, some cities make it easier than others. Costs of housing, food, and transportation all influence how much you’ll be able to stash away each month, and there are some cities where residents will find this more doable.
GOBankingRates took a look at incomes and costs of living in over 100 cities across the US. Income data is from the Census Bureau’s American Community Survey, while median single-family home rent costs and home listing prices were calculated from Zillow. Other cost of living factors include average statewide gas prices from AAA as of June 2019, and costs of eating out and groceries sourced from Numbeo.
Many of the most affordable cities are in Texas and the Midwest. Of the 17 on this list, six of the cities are in Texas, including San Antonio and El Paso.
Here are the US 17 cities that make it easiest to save money:
17. San Antonio, Texas
AP Photo/Eric Gay
San Antonio’s cost of living is affordable and works well for those on a budget.
Median household income: $49,711
Median rent for a single-family home: $1,350 per month
16. Chandler, Arizona
Shutterstock
Southwest of Phoenix, residents will find fairly high incomes and relatively low rents.
Median household income: $77,278
Median rent for a single-family home: $1,750 per month
15. Toledo, Ohio
Shutterstock
Toledo, Ohio is an excellent city for savers, with some incredibly low rents.
Median household income: $35,808
Median rent for a single-family home: $775 per month
See the rest of the story at Business Insider
See Also:
- How to use Chase Offers to earn discounts on purchases from retailers like Airbnb and Starbucks
- 6 smart ways to bypass checked bag fees every time you fly
- The 7 hardest things you’ll ever have to do with your money
DON’T MISS: 9 signs you probably aren’t saving enough money
Source: Business Insider – feedback@businessinsider.com (Liz Knueven)