Forbes likes to publish rankings of places and things based on economic factors. Some are quite helpful to potential retirees and down-sizers, including a recent list of America’s Most Affordable Cities.
Here are the top ten most affordable cities based on averaging these criteria:
|City||Cost-of Living||Unemployment||Housing Costs|
|1. Oklahoma City||12||4||2|
|2. Pittsburgh, Pa.||6||15||1|
|3. Buffalo, N.Y.||16||9||3|
|4. Rochester, N.Y.||25||1||8|
|5. Nashville, Tenn.||3||23||11|
|6. San Antonio, Texas||19||9||10|
|7. Houston, Texas||7||22||13|
|8. Louisville, Ky.||2||37||4|
|9. Birmingham, Ala.||5||26||14|
|10. Austin, Texas||15||6||25|
I was glad to see our current home base – Nashville – on the list. I was also not surprised to see Louisville and Birmingham.
On the other hand, I did not expect to see Pittsburgh, Buffalo and Rochester evaluated as being affordable. According to Forbes, their economies are “post-industrial” success stores. I do not believe these rankings considered taxes (and clearly not weather) so for retirees, these rust belt cities would not rate highly.
Also, retirement does not necessarily mean living in a major metropolitan area, but I expect that nearby smaller towns would have similar costs of living. I enjoy rural living. (See Retiring in a Small Town or Rural Area.)
What are your thoughts on this list?
Link to Forbes article: Americas Most Affordable Cities