Yahoo Finance 10 Southern Cities With Plenty of Jobs and Cheap Housing
If you're looking for a mix of Southern charm, affordable housing and ample job opportunities, there are a few cities that will fit the bill.
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GOBankingRates identified the top Southern cities for cheap housing and job availability by analyzing the 200 biggest housing markets in the U.S. as identified by Zillow across several factors, including the typical home value and monthly rent as of February 2023, as well as its metro statistical area unemployment rate, as sourced from December 2022 Bureau of Labor Statistics data. The cities included in the final ranking have values lower than the U.S. national average in all of the above factors.
Here's a look at the Southern cities where you can find affordable places to live and steady employment.
1. Birmingham, Alabama
Typical home value: $90,289
Typical rent: $1,184
2022 unemployment rate: 2.0%
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2. Huntsville, Alabama
Typical home value: $257,800
Typical rent: $1,434
2022 unemployment rate: 1.8%
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3. Montgomery, Alabama
Typical home value: $127,789
Typical rent: $1,168
2022 unemployment rate: 2.5%
4. Oklahoma City
Typical home value: $193,301
Typical rent: $1,215
2022 unemployment rate: 2.4%
5. Tallahassee, Florida
6. Tulsa, Oklahoma
Typical home value: $186,905
Typical rent: $1,166
2022 unemployment rate: 2.7%
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7. Gainesville, Florida
Typical home value: $300,135
Typical rent: $1,626
2022 unemployment rate: 2.0%
8. Little Rock, Arkansas
Typical home value: $185,392
Typical rent: $1,095
2022 unemployment rate: 2.8%
9. Roanoke, Virginia
Typical home value: $233,846
Typical rent: $1,207
2022 unemployment rate: 2.6%
10. Pensacola, Florida
Typical home value: $238,068
Typical rent: $1,572
2022 unemployment rate: 2.3%
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Methodology: In order to identify cities in the U.S. that have plenty of jobs and cheap housing, GOBankingRates gathered information on the top 200 biggest housing markets in the U.S., according to Zillow. To be considered for ranking, each city had to have data available on: (1) its February 2023 typical home value, according to Zillow, (2) its February 2023 typical monthly rent, according to Zillow and (3) its Metro Statistical Area unemployment rate, according to the December 2022 Bureau of Labor Statistics data. The 65 cities in the final ranking have values lower than the U.S. national average in all 3 of the above factors. The highlighted cities were then scored on all three factors and ranked against each other, with factors (1) and (2) carrying half as much weight as factor (3). All data was collected on and up to date as of March 14, 2023.
This article originally appeared on GOBankingRates.com: 10 Southern Cities With Plenty of Jobs and Cheap Housing
