29 Cheapest Places To Live In The U.S.

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Birmingham, Alabama

Source: https://www.aldailynews.com/

The seat of Jefferson County and the most populous city in Alabama, Birmingham is a city known for its rapid industrial growth, earning it the nicknames “The Magic City” and “The Pittsburgh of the South.” Even though it no longer holds the same prominence in the steel industry as it had in the past, steel production and processing still plays a major role in the city’s local economy, with the nation’s largest metal manufacturers, namely CMC Steel, Nucor, and U.S. Steel, offering employment. Birmingham is also a leading banking center, providing decent compensation to white-collar professionals.

The Magic City boasts a low cost of living and affordable transportation, with a 30-day transit pass priced at $44 for adults and $25 for students. You can also choose and invest from a range of affordable housing options from quiet neighborhoods to expanding communities. However, because Birmingham is located in an area affected by tornadoes and hailstorms, the risk of damages caused by natural disasters keeps insurance premiums inflated. Still, the city’s incredibly low living cost balances out this financial burden.

Cost of Living: 74.1
Median Home Value: $65,500
City Population: 209,880
Median Household Income: $67,544
Unemployment Rate: 2.5%