New budget, new place

Looking to relocate? Whether you’re wanting to explore a new city after college or move to the perfect place to raise a family, be sure to factor in the region’s affordability index when making your decision. It’s more than knowing about cost of living and doing the research ensures you find a place that suits your lifestyle while making the most of your income.

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Cities across the country are providing robust communities that offer great affordable environments to live, work and play. Here are a few financial details about four hotspots that offer a great place to all you want in a community at an affordable cost:

Memphis, Tennessee

With a cost of living that’s nearly 21% below the U.S. average, Memphis offers a small-town feel in a larger metropolis. Tennessee also has no personal state income tax, although residents are taxed on their investment income.

• Median home price: $248,857
• Median monthly rent: $756
• Cost of a half-gallon of milk: $1.90

Tulsa, Oklahoma

Home to the American Airlines Maintenance and Engineering Center and once a hub for the oil industry, Tulsa boasts a cost of living that’s nearly 15% lower than the U.S. average.

• Income adjusted by cost of living: $54,123
• Median home price: $231,122
• Average rent: $760

St. Louis

Home to many historic buildings and museums plus the iconic Gateway Arch, St. Louis’ cost of living is 12.6% lower than the national average.

• Median household income: $41,107
• Median home price: $244,787
• Cost of a half-gallon of milk: $1.72

San Antonio, Texas

Home of the Alamo, Texas’ second-largest city is spread across 460 miles, which means that even with more than 1.5 million residents (plus visitors), it never feels overcrowded.

• Cost of living: 11.3% below the U.S. average
• Median home price: $264,718
• Median monthly rent: $1,200

– Bridget McCrea