The cost of living has been rising just about everywhere. With wages not rising as quickly, many people have found themselves priced out of places they could once comfortably afford.
Experts often suggest that individuals should spend no more than 30% of their monthly income on rent. However, in a country where the federal minimum wage is set at $7.25 an hour, this can be very difficult in many places with higher rents. There has been a push for an increase in the minimum wage to at least $15 an hour, but as the cost of living in cities rapidly climbs, even this minimum wage can be difficult to live on.
In some metro areas, the cost of living went up by over 20% between 2010 and 2020, according to the U.S. Bureau of Economic Analysis. The cost of housing and food both increased nationwide by more than 20% according to the U.S. Bureau of Labor Statistics.
Wage increases, meanwhile, though they vary by occupation and earnings level, generally did not go up by even 10% during the same time period. The pandemic has certainly reshaped the work world, and wages are expected to rise somewhat for a number of reasons. Here are the 16 states where incomes are rising fastest.
As the cost of living has continued to climb in most places, and with the rapid expansion of remote work, many people can relocate to places within their budget. In turn, this can help pump money into smaller cities but can also create problems by pricing out those that already live there but don’t make big city wages from remote work jobs.
24/7 Wall St. compiled a list of the 20 best metro areas to live on a budget of $31,000 a year by reviewing data from Move.org, a site that compares and reviews moving companies and quotes. Move.org ranked metro areas based on an index that includes four measures: median gross rent, monthly food cost, violent crime rate, and property crime rent. Metro areas with a median monthly rent over $886 and metro areas with missing crime data from the FBI were excluded.
These cities are spread across the country and can be good for someone looking for a new start or a place to settle down on a fixed income. They are generally (more) affordable and have low crime rates. None of them have over 1 million residents but they range in size from medium to small cities. (This is the state where retirees are most likely to move).
Click here to see the best places to live on a budget of $30k
27. Pittsfield, Massachusetts
> Est. average monthly rent: $864
> Est. monthly cost of groceries: $319
> Property crime rate: 1,387 incidents per 100,000 people
> Violent crime rate: 381 incidents per 100,000 people
> Population: 124,944
[in-text-ad]
26. Oklahoma City, Oklahoma
> Est. average monthly rent: $876
> Est. monthly cost of groceries: $257
> Property crime rate: 3,070 incidents per 100,000 people
> Violent crime rate: 461 incidents per 100,000 people
> Population: 1,408,950
25. Louisville/Jefferson County, Kentucky
> Est. average monthly rent: $880
> Est. monthly cost of groceries: $251
> Property crime rate: 2,864 incidents per 100,000 people
> Violent crime rate: 437 incidents per 100,000 people
> Population: 1,266,389
24. Greensboro-High Point, North Carolina
> Est. average monthly rent: $863
> Est. monthly cost of groceries: $252
> Property crime rate: 2,696 incidents per 100,000 people
> Violent crime rate: 530 incidents per 100,000 people
> Population: 771,851
[in-text-ad-2]
23. Lafayette, Louisiana
> Est. average monthly rent: $818
> Est. monthly cost of groceries: $274
> Property crime rate: 2,883 incidents per 100,000 people
> Violent crime rate: 467 incidents per 100,000 people
> Population: 489,207
22. Sioux Falls, South Dakota
> Est. average monthly rent: $851
> Est. monthly cost of groceries: $276
> Property crime rate: 2,427 incidents per 100,000 people
> Violent crime rate: 388 incidents per 100,000 people
> Population: 268,833
[in-text-ad]
21. Knoxville, Tennessee
> Est. average monthly rent: $872
> Est. monthly cost of groceries: $273
> Property crime rate: 2,127 incidents per 100,000 people
> Violent crime rate: 354 incidents per 100,000 people
> Population: 869,525
20. Lincoln, Nebraska
> Est. average monthly rent: $856
> Est. monthly cost of groceries: $252
> Property crime rate: 2,497 incidents per 100,000 people
> Violent crime rate: 347 incidents per 100,000 people
> Population: 336,541
19. Roanoke, Virginia
> Est. average monthly rent: $835
> Est. monthly cost of groceries: $271
> Property crime rate: 2,391 incidents per 100,000 people
> Violent crime rate: 239 incidents per 100,000 people
> Population: 312,796
[in-text-ad-2]
18. Yakima, Washington
> Est. average monthly rent: $839
> Est. monthly cost of groceries: $254
> Property crime rate: 2,599 incidents per 100,000 people
> Violent crime rate: 280 incidents per 100,000 people
> Population: 250,873
17. Sioux City, Iowa
> Est. average monthly rent: $830
> Est. monthly cost of groceries: $245
> Property crime rate: 2,802 incidents per 100,000 people
> Violent crime rate: 316 incidents per 100,000 people
> Population: 144,670
[in-text-ad]
16. Buffalo-Cheektowaga, New York
> Est. average monthly rent: $828
> Est. monthly cost of groceries: $261
> Property crime rate: 1,868 incidents per 100,000 people
> Violent crime rate: 354 incidents per 100,000 people
> Population: 1,127,983
24/7 Wall St.
15. Fargo, North Dakota
> Est. average monthly rent: $815
> Est. monthly cost of groceries: $261
> Property crime rate: 2,339 incidents per 100,000 people
> Violent crime rate: 297 incidents per 100,000 people
> Population: 246,145
14. Cincinnati, Ohio
> Est. average monthly rent: $854
> Est. monthly cost of groceries: $251
> Property crime rate: 1,977 incidents per 100,000 people
> Violent crime rate: 237 incidents per 100,000 people
> Population: 2,219,750
[in-text-ad-2]
13. Sebring-Avon Park, Florida
> Est. average monthly rent: $807
> Est. monthly cost of groceries: $258
> Property crime rate: 2,218 incidents per 100,000 people
> Violent crime rate: 265 incidents per 100,000 people
> Population: 106,221
12. Duluth, Minnesota
> Est. average monthly rent: $768
> Est. monthly cost of groceries: $269
> Property crime rate: 2,665 incidents per 100,000 people
> Violent crime rate: 209 incidents per 100,000 people
> Population: 289,383
[in-text-ad]
11. Las Cruces, New Mexico
> Est. average monthly rent: $752
> Est. monthly cost of groceries: $250
> Property crime rate: 2,314 incidents per 100,000 people
> Violent crime rate: 557 incidents per 100,000 people
> Population: 218,195
24/7 Wall St.
10. Bangor, Maine
> Est. average monthly rent: $809
> Est. monthly cost of groceries: $285
> Property crime rate: 1,557 incidents per 100,000 people
> Violent crime rate: 44 incidents per 100,000 people
> Population: 152,148
9. Yuma, Arizona
> Est. average monthly rent: $829
> Est. monthly cost of groceries: $235
> Property crime rate: 1,731 incidents per 100,000 people
> Violent crime rate: 278 incidents per 100,000 people
> Population: 213,787
[in-text-ad-2]
8. El Centro, California
> Est. average monthly rent: $810
> Est. monthly cost of groceries: $230
> Property crime rate: 1,997 incidents per 100,000 people
> Violent crime rate: 339 incidents per 100,000 people
> Population: 181,215
7. Fort Wayne, Indiana
> Est. average monthly rent: $780
> Est. monthly cost of groceries: $239
> Property crime rate: 2,114 incidents per 100,000 people
> Violent crime rate: 305 incidents per 100,000 people
> Population: 413,263
[in-text-ad]
6. Peoria, Illinois
> Est. average monthly rent: $732
> Est. monthly cost of groceries: $247
> Property crime rate: 1,935 incidents per 100,000 people
> Violent crime rate: 452 incidents per 100,000 people
> Population: 400,912
5. Idaho Falls, Idaho
> Est. average monthly rent: $798
> Est. monthly cost of groceries: $255
> Property crime rate: 1,089 incidents per 100,000 people
> Violent crime rate: 205 incidents per 100,000 people
> Population: 151,516
4. Logan, Utah
> Est. average monthly rent: $836
> Est. monthly cost of groceries: $247
> Property crime rate: 921 incidents per 100,000 people
> Violent crime rate: 128 incidents per 100,000 people
> Population: 141,760
[in-text-ad-2]
3. Green Bay, Wisconsin
> Est. average monthly rent: $788
> Est. monthly cost of groceries: $248
> Property crime rate: 1,098 incidents per 100,000 people
> Violent crime rate: 226 incidents per 100,000 people
> Population: 322,906
2. McAllen-Edinburg-Mission, Texas
> Est. average monthly rent: $763
> Est. monthly cost of groceries: $201
> Property crime rate: 2,212 incidents per 100,000 people
> Violent crime rate: 269 incidents per 100,000 people
> Population: 868,707
[in-text-ad]
1. Cumberland, Maryland
> Est. average monthly rent: $628
> Est. monthly cost of groceries: $266
> Property crime rate: 1,820 incidents per 100,000 people
> Violent crime rate: 275 incidents per 100,000 people
> Population: 97,284
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
