Affordability is a key factor in deciding where people choose to live in a country with varied economic environments. For certain individuals, locating a location where the cost of living matches their financial situation is essential. Affordability plays a significant role in decision-making when looking to buy a home, rent an apartment, or start a business. Let’s take a look at the 20 most affordable zip codes in the United States.
48505 in Flint, Michigan
Flint, Michigan’s zip code 48505 stands out as the most affordable in the US, with a median rent of $750 and a median home price of $25,941. The population in the area is 18,740, with a significant number of residents renting their homes. Not only is affordable housing available in the country, but the cost of living index is also a very low 78.3, well below the US national average of 100.
Shreveport, LA zip code 71103
One of the most budget-friendly zip codes in the United States is 71103, situated in Shreveport, Louisiana. Living in this zip code offers residents an affordable place to live, with a median rent of $815 and a median home price of $26,846. In the 71103 zip code, there are 6,133 residents, and the cost of living index is 84.6.
17935: Girardville, PA
Located in Pennsylvania, Girardville (Zip Code: 17935) has a median house rent of $800 and a median home price of $32,642. Having a population of 1,586, this zip code has a low cost of living index at 81.4, making it a budget-friendly option for those looking for affordability. Nevertheless, the unemployment rate is at 17.7%, indicating the economic difficulties experienced by the community.
Also Read: Lets Discuss the Cheapest Places to Live in Washington
24736: Matoaka, WV Matoaka
Matoaka, WV Matoaka, West Virginia, with zip code 24736, provides affordable living with a median apartment rent of $691 and a median home price of $40,829. This area has a population of 702, showing a high school attainment rate, an older demographic, and a cost of living index of 82.9.
71601 corresponds to Pine Bluff, AR
Pine Bluff, Arkansas, specifically in zip code 71601, is known for its budget-friendly prices. With a median rent of $750 and a median home price of $46,187, this area accommodates a population of 14,129. Nevertheless, the unemployment rate is still elevated at 17.2%, with the cost of living index in zip code 71601 at 79.7.
61832 in Danville, Illinois
Located in Danville, Illinois (Zip Code: 61832), the town has a population of 33,391. The median rent is $625, while the median home price is $52,849. Danville provides a mix of affordability and educational opportunities, with a low unemployment rate of 9.6% and 18.2% of the population holding bachelor’s degrees or higher. Moreover, the cost of living index in this zip code stands at 81.3.
24724: Bramwell, WV Located in Bramwell
West Virginia (Zip Code: 24724), this small town has a population of 108. With a median rent of $534 and a median home price of $53,433, it’s a budget-friendly choice. The cost of living index here is 90. Nevertheless, the significant unemployment rate of 47.2% indicates difficulties in the local economy.
Cotton Plant, AR 72036
Located in Cotton Plant, Arkansas, zip code 72036 is known for its affordable cost of living index of 77.7. This zip code provides affordable living with a median monthly rent of $441 and a median home price of $65,426. With only 598 residents, the region faces a challenging 20% unemployment rate.
Seth, WV is a small community in West Virginia with a population of 471 and a cost of living index of 80. Even though it’s a small area, the median rent is $705 and the median home price is $66,718. Nevertheless, considering the unemployment rate of 21.2% and the limited number of residents with bachelor’s degrees or higher, economic revitalization efforts might be needed to promote sustainable growth.
Jennings, MO 63136
Jennings, Missouri (Zip Code: 63136), has a population of 44,513. The median rent is $1,150, and the median home price is $67,011. Even though it has a higher median home price compared to others on this list, its affordability is still noteworthy. Here, the cost of living index is 94.6, which is lower than the US national average of 100.
72123: Patterson, AR
Patterson, Arkansas, with zip code 72123, provides affordable living with a median apartment rent of $486 and a median home price of $68,062. With a population of 314, the unemployment rate is relatively low at 6.0%. Moreover, the cost of living index in this zip code is 76.4.
48224 in Detroit, Michigan
Located in Detroit, Michigan (Zip Code: 48224), this area offers a blend of affordability and urban living with a cost of living index of 94.2. This zip code provides an affordable housing option within a major city, with a population of 39,079, a median rent of $1,100, and a median home price of $70,298. Nevertheless, the unemployment rate stands at 14.7%, indicating larger economic challenges in the area.
47302 corresponds to Muncie, Indiana.
Located in Muncie, Indiana (Zip Code: 47302), the town has a population of 25,258 people. The median rent is $880, and the median home price is $77,595. Although the unemployment rate is at 7.0%, there are still ongoing challenges in the local economy. Yet, with 12.3% of residents having earned bachelor’s degrees or higher, there are plenty of educational opportunities available. Moreover, the cost of living in this area is below the national average, with a cost of living index of 83.9.
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