10 Cheapest Places to Live in the US

6) Louisville, Kentucky

U.S. News & World Report rated Louisville as one of the “Best Affordable Places to Live.” The Council for Community and Economic Research listed it as one the “Most Affordable Big Cities” in the U.S. Louisville has a metro population of 1,253,305, a median home price of $131,750, and a median salary of $42,330. Residents spend an average of 27.99 percent of their salaries on living expenses. Cost of living is about 8.6 percent below the average. While Louisville doesn’t necessarily come up as the cheapest on many lists, it is a “more bang for the buck” option with city amenities at lower prices. U.S. News also ranked it as the 45th best place to live in 2016. The city is home to University of Louisville and three Fortune 500 companies. In 2016, residents saw a reduction in property taxes.