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Inc. magazine recommends Tucson as a great place to start a new company, naming it the number one most affordable city in the country.
Personal finance site GOBankingRates reviewed the cost of living in the 50 largest U.S. cities, taking into account rent, groceries, utilities, transportation, and health care.
Tucson was found to be the most affordable city and the only one where an individual can “survive nicely” on less than $40,000 per year.
“The city’s long history as a military center has led to the development of a local high-tech industry, and biotech, especially when it comes to optics,” the article states. “In fact, the area has been nicknamed ‘Optics Valley’.”
Can you afford to start a new company? The answer may depend on where you’re located. In San Francisco, arguably the hottest startup town in the U.S.–but far and away the costliest–it takes income of just under $120,000 a year for a single person to live a reasonably comfortable life, according to research compiled by the personal finance site GOBankingRates. GOBankingRates reviewed the cost of living at the 50 largest U.S. cities, taking into account average prices for rent, groceries, utilities, transportation, and health care. Then they doubled that number, following the 50-30-20 budgeting rule of 50 percent for necessities, 30 percent for discretionary items and 20 percent for savings.
Here are the 10 most affordable of those cities. (You can see the full list here.) Rather than chase the startup scene in this country’s most expensive towns, consider living a better life in one of these locales:
- Tucson
According to GOBankingRates research, it costs $39,966 per year to live comfortably in Tucson, making it the most affordable large city in the U.S., and the only one where you can survive nicely on less than $40k per year.
The 33rd of the 50 most populous cities, but the most affordable, Tucson has a lot to recommend it. “Snowbirds” regularly purchase second homes here, attracted by the pleasant winter weather. The city’s long history as a military center have led to the development of a local high-tech industry, and biotech, especially when it comes to optics. In fact, the area has been nicknamed “Optics Valley.”
- El Paso
Elsewhere in the Sun Belt, El Paso, Texas has only slightly higher comfortable living costs than Tucson, at a modest $40,227. El Paso’s diverse economy is driven by international trade, civil service, health care, tourism, and especially the oil and gas industry. The current low price of oil may account in part for its affordability. And if that isn’t enough to entice you, consider the fact that Texas has no income tax.
- Wichita
The Midwest is a famously affordable place to live. At $40,616 to live comfortably for a year, Wichita, Kansas is the most affordable of Midwestern cities. This town’s economy is driven by aircraft manufacturing, healthcare, and oil. This may make it particularly vulnerable to an economic downturn that could both lower the cost of oil and slow manufacturing, which accounts for more than one fifth of local employment.
- Fresno
Fresno is the 34th largest city in the U.S., and the largest inland city in California. It’s the economic capital of the San Joaquin Valley, which has been called “the food basket of the world.” With drought devastating the Valley and water tables fast disappearing, the future of the area looks somewhat uncertain, which partly explains why it costs only $42,496 cost to live comfortably for a year. Healthcare and electronics make the city’s economy somewhat diverse. Unfortunately, Fresno is also listed by the American Lung Association as the most polluted city in the nation for particle pollution.
- Cleveland
Cleveland is the 48th largest city in the U.S., and you can live comfortably there for $42,589 a year. The city is located at the juncture of Lake Erie and the Cuyahoga river, boasts beautiful architecture, and the Rock and Roll Hall of Fame, referred to by locals as the “Rock Hall.” The city has traditionally been a manufacturing center, but in recent years the local government and industry have worked to make the city a tech center, for instance by adding a high-speed fiber-optic network. Cleveland is also a center for biotech, and the Cleveland Clinic is rated as one of the best hospitals in the country.
- Mesa
Mesa, Arizona is the 38th largest city in the United States. Local industry has traditionally centered around agriculture and aerospace, but the city also functions more and more as a suburb of sprawling Phoenix. And no wonder: It costs $48,876 to live comfortably for a year in Phoenix, but only $42,654 to do so in Mesa.
- Milwaukee
With a cost to live comfortably of $43,281 per year, Milwaukee is another appealing and affordable Midwestern city. Particularly if you like beer: Milwaukee has been famous as a brewing center since 1850. Both Miller and Coors are brewed there, as well as many microbrews. The city is also a center for manufacturing and financial services.
- Bakersfield
Bakersfield is another highly affordable California city, with a cost of living comfortably of $43,425 per year. The local economy thrives on both agriculture and the oil industry. It’s located in Kern County, the most oil-producing county in the nation, which accounts for 10 percent of domestic oil production. Bakersfield is also growing as a manufacturing and distribution center. But all this growth comes at a quality-of-life costs: The American Lung Association ranked Bakersfield as having the second worse particle air pollution, after Fresno.
- Albuquerque
It only costs $43,895 a year to live in this rapidly growing tech center. Both private companies such as Northrop Grumman and Intel, and government and military operations contribute to a vibrant economy and have unleashed growth that the city is working to manage.
- Memphis/Oklahoma City
Memphis and Oklahoma City tie for tenth most affordable city: It costs $44,180 to live comfortably in either one for a year. The two cities are very different, though. Memphis is a manufacturing and distribution center, in part because of its location at the confluence of major railroad lines and highways, and the Mississippi River. It’s also a music center, known as the birthplace for many types of music. Aretha Franklin, B.B. King, Elvis Presley, and Johnny Cash–among many others–got their start in Memphis.
Oklahoma City’s economy depends on the oil and gas industry, although in recent years it has also expanded into high-tech and health services. It also has one of the biggest livestock markets in the world. Situated in “Tornado Alley,” the city has been struck by 13 strong tornadoes since weather record-keeping began.
FROM ME:
Are you ready to sell your Commercial Building in Phoenix – Maricopa County , please call me.
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http://walter-unger.com/why-phoenix-2/
Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land in Phoenix / Tucson / Arizona. Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.
I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
Are you ready to sell your Commercial Building in Phoenix – Maricopa County , please call me.
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Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
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Click here to View My Listings and Profile
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Click here to find out what is a CCIM:
https://en.wikipedia.org/wiki/CCIM
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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix
http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974
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Interactive Metro Phoenix Map of New Apartment Construction by Completion Status
http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2
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4rd QTR 2015 GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER Kasten Long Commercial Group.
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Apartment Vacancy Rates – Greater Phoenix Area – 50+ Units (Stabilized) 2013, 2014, & 2015
http://klcommercialgroup.com/wp-content/uploads/2016/03/Vacancy-Rpt-Q4-2015.pdf
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AZREIA Market Update | March 2016
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
http://walter-unger.com/why-phoenix-2/
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Timeline of Phoenix, Arizona history
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
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http://en.wikipedia.org/wiki/Phoenix,_Arizona
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Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
walterunger@ccim.net 1-520-975-5207
Check out my professional profile and connect with me on LinkedIn.
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http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974
http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Click here for Map of Apartments for Sale (10+units)
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
2821 E. Camelback Rd. Suite 600
Phoenix , AZ 85016
Direct: 520-975-5207
Fax: 602-865-7461
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