10 Cheapest Places to Live in the US

3) Memphis, Tennessee

Memphis is the largest city in Tennessee. It’s famous for the music scene and its impact on blues music. Additionally, it is famous for being the city where many musicians got their start, including Elvis, Aretha Franklin and Robert Johnson, whose music has influenced many aspiring blues players for decades. The Council for Community and Economic Research has ranked it on the list “Top Ten Most Affordable Places to Live.” The cost of living is 14.6 percent below the national average, and this is particularly notable in such a large city. The average cost of home is $180,375 and the median income is $36,817. Since it is near the Mississippi River, Memphis is a hub for shipping and transportation. Major companies, including FedEx and Autozone, are also based here. Once the metro area with the highest poverty rate, that number is now declining.