29 Cheapest Places To Live In The U.S.

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Des Moines, Iowa

Source: https://www.dsmpartnership.com/

The state’s capital and most populous city is named after the Des Moines River from the French name, “Rivière des Moines” which means “River of Monks.” Des Moines is a major center of the country’s insurance industry and also ranks third among the largest insurance capitals of the world. The city was also labeled by Forbes magazine as the “Best Place for Business” in 2010 and 2013, being the headquarters of leading financial and insurance companies, such as the Meredith Corporation, the Principal Financial Group, and Wellmark Blue Cross Blue Shield. Other multinational financial corporations, such as DuPont Pioneer, Nationwide Mutual Insurance Company, and Wells Fargo, also have major operations within or near city limits.

While it’s also ranked by NBC as the “Wealthiest City in America” in 2014, housing and living costs in Des Moines are lower than the national standard. Despite its recently discovered economic power, replacing cornfields and pastures with a ring of tech businesses, Des Moines remains as one of the most affordable metropolitan areas in the nation.

Cost of Living: 81.2
Median Home Value: $145,300
City Population: 216,853
Median Household Income: $62,227
Unemployment Rate: 2.5%