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Georgia: Best Affordable Places to Live


Best Affordable Places to Live in Georgia in 2025

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    By Caroline Banton

    (Last Updated – 03/2025)

    Georgia, the Peach State, is known for its exciting cities, sandy beaches, and temperate climate. The state’s population of around 11 million enjoys affordable living — the state ranks 12th on the most recent list of America’s most affordable states compiled by the Missouri Economic Research and Information Center (MERIC). The cost of living is 91.3 vs. the U.S. average of 100.

    Here’s a look at the best places to live in Georgia whether you are a retiree, young professional, beach lover, or peach lover.

    Best Places to Live in Georgia

    The best places in Georgia to live depend on your likes and dislikes. Some cities are larger with more urban appeal, like Atlanta, and others offer small-town charm, like Thomasville, with its quaint Victorian-era buildings. If you crave coastal living, there are options like Jekyll Island, a tiny slice of paradise with its famous Driftwood Beach. Come see what this state has to offer.


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    Best Affordable Places to Live in Georgia

    If you’re looking for the best affordable places to live in Georgia, you’re in the right place. Here, you will find our top three picks.

    1. Albany

    Albany, Georgia

    Photo credit: Flickr/Judy Baxter , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic

    Albany is located in Dougherty County and calls itself the hub of southwest Georgia for culture, shopping, health care, education, and recreation. The birthplace of Ray Charles, it is a small suburban center with plenty of coffee shops and parks to explore.

    If you’re thinking about moving to affordable Albany, know that first-time homebuyer programs in Georgia could sweeten the deal even more.

    Population: 66,877

    Median Household Income: $45,201

    Cost of Living: 75% of U.S. average

    Average Rent Price: $800/month

    Home Price-to-Income Ratio: 2.75

    2. Augusta

    Augusta, Georgia

    Photo credit: iStock/Sean Pavone

    Augusta is a large urban town in Richmond County. It has a population of 200,000. Augusta’s residents enjoy a low cost of living, plus plenty of nightlife and outdoor activities. Every April, the world watches Augusta when the Masters golf tournament takes place.

    Augusta’s affordability makes it a good possible home base for first-time homebuyers.

    Population: 200,884

    Median Household Income: $53,134

    Cost of Living: 85% of U.S. average

    Average Rent Price: $1,300/month

    Home Price-to-Income Ratio: 3.18

    3. Dalton

    Dalton, Georgia

    Photo credit: iStock/Wirestock

    Located in the northwestern corner of the state near Tennessee, Dalton is another of the best affordable places to live in Georgia. It has a population of 34,000-plus and has a suburban feel, with most residents renting their homes. Right now, with a home price-to-income ratio of 3.58, the town is affordable, with average property taxes for Georgia.

    If you’re thinking of making Dalton your home, it can be wise to learn more about mortgage preapproval or prequalification.

    Population: 34,508

    Median Household Income: $61,236

    Cost of Living: 87% of U.S. average

    Average Rent Price: $1,550/month

    Home Price-to-Income Ratio: 3.58

    Best Places to Live in Georgia for Families

    The following locations are highly rated as among the best places to live in Georgia for families. Key factors considered include the educational options, family-friendly amenities, outdoor activities, and parks.

    1. Johns Creek

    Johns Creek, Georgia

    Photo credit: iStock/rodclementphotography

    Johns Creek is a relatively new suburban town around 30 miles from downtown Atlanta with a population of around 81,000. It blossomed over the last 40 years, when a tech hub launched in the area. The city is located in Fulton County and has excellent local parks. Families will appreciate the solid rankings of its local public schools.

    Population: 81,108

    Median Household Income: $160,185

    Cost of Living: 97% of U.S. average

    Average Rent Price: $2,698/month

    Home Price-to-Income Ratio: 4.2

    2. Alpharetta

    Alpharetta, Georgia

    Photo credit: iStock/halbergman

    Alpharetta is another city with a lot to offer Georgia families. This is a vibrant town also located in Fulton County about 10 miles northwest of Johns Creek. Alpharetta is known for its classic architecture, farmers’ markets, restaurants, and entertainment. Families often move there because they are drawn to its good schools and other kid-friendly amenities. Overall, it can be a great place to raise kids.

    Prices are also relatively affordable, which is good to know if you are shopping for a place and perhaps embarking on the mortgage preapproval process.

    Population: 67,056

    Median Household Income: $146,581

    Cost of Living: 105% of U.S. average

    Average Rent Price: $2,550/month

    Home Price-to-Income Ratio: 4.79

    Recommended: Cost of Living by State

    3. Decatur

    Decatur, Georgia

    Photo credit: iStock/Marilyn Nieves

    Decatur is another suburb of Atlanta that offers lavish living with plenty of amenities like restaurants, shopping, and parks. It’s popular with families and young professionals who are drawn to its public school system and plenty of outdoor activities.

    Population: 24,307

    Median Household Income: $140,480

    Cost of Living: 101% of U.S. average

    Average Rent Price: $1,800/month

    Home Price-to-Income Ratio: 2.06

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    Best Places to Live in Georgia for Young Adults

    For young adults, Georgia can offer towns that have a thriving job market, a manageable cost of living, and a location with plenty of options for eating out and entertainment.

    1. Atlanta

    Atlanta, Georgia

    Photo credit: iStock/halbergman

    The state capital has plenty of job opportunities for college graduates, particularly in technology and health care. Yes, the cost of city living can be high, but recent grads can earn a good living in Atlanta and make ends meet. The city has a vibrant nightlife for young adults, a demographic that accounts for close to 40% of the city’s population.

    Population: 510,823

    Median Household Income: $81,938

    Cost of Living: 123% of U.S. average

    Average Rent Price: $2,000/month

    Home Price-to-Income Ratio: 4.74

    2. Smyrna

    Smyrna, Georgia

    Photo credit: Wikimedia Commons/Tyler Lahti , Creative Commons Attribution-ShareAlike 4.0 International

    Smyrna is a growing town with a well-educated population. The city has a large population of young people; 26% of the population is between ages 20 and 34. Smyrna scores highly for nightlife, outdoor activities, diversity, and health and fitness.

    Population: 56,566

    Median Household Income: $96,780

    Cost of Living: 108% of U.S. average

    Average Rent Price: $2,450/month

    Home Price-to-Income Ratio: 4.62

    3. Kennesaw

    Kennesaw, Georgia

    Photo credit: iStock/Ashley Strickland Photography

    Kennesaw, with 38,000 residents, has a high number of young adults; the median age is 35.6. The town doesn’t have the same buzz that a city possesses, but for those young professionals who want a suburban feel, many restaurants, and parks, it can be a great option.

    Kennesaw is an affordable town with a relatively low price-to-income ratio, which can appeal to young professionals looking to qualify for a mortgage.

    Population: 38,473

    Median Household Income: $105,396

    Cost of Living: 100% of U.S. average

    Average Rent Price: $2,225/month

    Home Price-to-Income Ratio: 3.79

    Best Places to Live in Georgia for Retirees

    What makes a location rank highly as among the best places to live in Georgia for retirees? Factors such as art and culture, recreational facilities like golf, tennis, and pickleball, and a reasonable cost of living.

    1. Savannah

    Savannah, Georgia

    Photo credit: iStock/DenisTangneyJr

    Savannah has a vibrant community with lots going on for retirees, including museums, historic homes, and plenty of dining options. The weather is good year round, and it’s a beautiful town to explore. The Savannah College of Art and Design (SCAD) adds a college-town vibe, which can mean more events and exhibits for retirees to check out.

    Population: 147,748

    Median Household Income: $56,782

    Cost of Living: 102% of U.S. average

    Average Rent Price: $2,048/month

    Home Price-to-Income Ratio: 5.62

    2. Thomasville

    Thomasville, Georgia

    Photo credit: iStock/BOB WESTON

    Barely an hour north of Tallahassee, Florida, Thomasville is a small town with plenty of charming Victorian-style historic homes. There is a vibrant town center with art galleries, craft stores, and cafes. Retirees can enjoy recreation and fitness programs at three YMCAs.

    Population: 18,558

    Median Household Income: $48,464

    Cost of Living: 87% of U.S. average

    Average Rent Price: $1,600/month

    Home Price-to-Income Ratio: 4.35

    3. Griffin

    Griffin is another of the best places for retirees to live in Georgia. It’s a small town around 25 miles south of Atlanta and was featured in the movie “Driving Miss Daisy.” It could be a perfect fit for culture-loving retirees. Griffin has a ballet, theater, music, and the Griffin School for the Arts.

    Population: 24,044

    Median Household Income: $44,021

    Cost of Living: 86% of U.S. average

    Average Rent Price: $1,393/month

    Home Price-to-Income Ratio: 5.51

    Best Places to Live in Georgia Near the Beach

    The state has beautiful coastal towns and barrier islands. To find the best places to live in Georgia near the beach, such factors as the cost of housing, including rental costs, were factored in.

    1. Darien

    Located on the Georgia coast at the mouth of the Altamaha River, Darien is a coastal community about 60 miles south of Savannah with much to recommend it. It can be your starting point for deep-sea fishing outings, strolls along the shore, or dining with a great view of the sunset. This town of about 1,200 has a good mix of younger and older residents. Expect a quiet, quaint fishing-village vibe and some historical attractions in addition to fantastic views and landscapes. However, that also means there isn’t too much choice when it comes to shopping or dining. Prepare to drive a bit for those amenities.

    Population: 1,253

    Median Household Income: $53,325

    Cost of Living: 84.8% of U.S. average

    Average Rent Price: $1,400/month

    Home Price-to-Income Ratio: 4.53

    2. Jekyll Island

    Jekyll Island, Georgia

    Photo credit: iStock/sestevens

    Among the best places to live in Georgia near the beach is Jekyll Island, a tiny but gorgeous community. It has 5,500-acres and 10 miles of shoreline. Tucked among what are called the Golden Isles, Jekyll Island is known for Driftwood Beach, the Georgia Sea Turtle Center, biking trails, tennis, golf, kayaking, and boating. All land on Jekyll Island is owned by the State of Georgia, which means owners of property pay the Jekyll Island Authority rent to lease the land in addition to other homeowner expenses.

    Population: 1,078

    Median Household Income: $76,445

    Cost of Living: 90.9% of U.S. average

    Average Rent Price: $3,500/month

    Home Price-to-Income Ratio: 4.53

    3. St. Marys

    St. Marys, Georgia

    Photo credit: iStock/Ed Williams

    Located in Camden County on the banks of the St. Marys River, St. Marys is a small beach-centric area with historic buildings from the 1800s. The town borders the U.S. Naval base of Submarine Base Kings Bay. Also, the town hosts the annual Rock Shrimp Festival with delicious seafood and family fun.

    If you’re getting ready to start home shopping, checking out a home loan help center to learn more about mortgage options can be a smart move.

    Population: 19,537

    Median Household Income: $67,271

    Cost of Living: 88% of U.S. average

    Average Rent Price: $1,675/month

    Home Price-to-Income Ratio: 4.41


    The Takeaway

    Georgia is a state that offers both rural tranquility and urban vibrancy that suits families, young professionals, and retirees. Big cities like Atlanta and smaller spots like Jekyll Island offer great living with restaurants and outdoor recreation at a relatively low cost of living.

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    FAQ

    Where is the most affordable place to live in Georgia?

    In terms of housing costs vs. income, Decatur and Albany can offer good deals as well as amenities that make for an appealing quality of life.

    How much money do you need to live comfortably in Georgia?

    According to a Living Wage calculator from the Massachusetts Institute of Technology, a living wage for someone with no children to live comfortably in Georgia is $23.94 per hour before taxes. For two working parents with two children, a comfortable living wage is $40.98 per hour per year before taxes.


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    Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

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    Investment Calculator


    Investment Calculator

    By Dan Miller | Updated March 11, 2025

    When you’re investing, it’s important to understand how the rates of return on different investments compare over periods of time. By using this investment calculator, you can plug in different numbers to see the impact of various hypothetical rates of return, and compounding periods.

    Although this investment calculator is hypothetical, and doesn’t take into account actual investments, by allowing you to vary certain inputs an investment calculator can help you evaluate the impact of certain financial choices.

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    *Using this free calculator is for informational and illustrative purposes only.

    Calculator Definitions

    • Initial Investment: If you currently have a balance in your investment account, you can enter it here. If you don’t have any money in an investment account now, but plan to start, you can enter $0 for your starting amount.

    • Years of Investment Growth: How many years you plan to keep the money invested. The earlier you start investing, the more years your money has to grow.

    • Assumed Annual Return: The annual rate of return you expect to get on your investments, without factoring in inflation, taxes, or fees.

    • Annual Contributions: The amount of any contributions you are going to make on a yearly basis. If you want to calculate returns based solely on the starting amount, set this value at $0.

    • Your Estimated Investment Balance Is: This is the final value of your investment, based on the numbers you plugged in. You can experiment with different amounts and timeframes to explore a potential investment scenario that best fits your situation.

    How Does This Investment Calculator Work?

    This investment calculator works using the amounts and timeframes you plug into it. The calculator will determine the final hypothetical amount for the period you specify. It will also compound your gains on an annual basis, allowing for earnings on both your starting amount and your gains over time.

    Note that all amounts are hypothetical. Results from actual investments will vary and include the risk of loss.

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    Idaho: Best Affordable Places to Live


    Best Affordable Places to Live in Idaho in 2025

    idaho

    On this page:

      By Jennifer Calonia

      (Last Updated – 03/2025)

      Idaho provides lively city spaces and access to serene mountain areas. Ten national parks and trails reside within, or cross, the state’s boundaries. The Gem State is also an attractive destination for those who are looking for a close-knit community atmosphere and a moderate cost of living. The Missouri Economic Research and Information Center ranks Idaho as one of three states tied for 32nd place on its cost of living index, at 102% of the U.S. average. Idaho is a more affordable option compared to Washington and Oregon, its west coast neighbor states.

      Between April 2020 and July 2024, the U.S. Census estimated an 8.8% population increase in Idaho. If you’re considering relocating to Idaho, there are plenty of places to consider for residents with all kinds of interests.

      The Best Places to Live in Idaho

      In addition to Idaho’s moderate cost of living and one of the lowest median property tax rates in the United States, residents can expect to find job opportunities here. According to 2022 data from the Idaho Department of Labor, the state’s construction industry is expected to grow 3.34% by 2030. Hailey, Saint Maries, and Lewiston, for example, are the highest-ranking cities for top paying construction employment in the state, according to ZipRecruiter data.

      But the job market isn’t the only thing to consider when relocating to a new area. Here’s a list of best places in Idaho to live, depending on your situation.

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      Best Affordable Places to Live in Idaho

      If affordability is your biggest consideration when deciding where to live, Idaho offers a handful of reasonably priced areas. These areas rank well for affordability and offer other amenities as well. (Interested in exploring other areas in addition to Idaho? Check out the cost of living by state.)

      1. Burley

      Burley, Idaho

      Photo credit: iStock/BOB WESTON

      Burley is located along the Snake River, and it has its own municipal airport nearby. It also occupies more than one spot on our list. It’s known for water-focused activities, like bass fishing and water skiing, and hosts many community events centralized along the river, like the Spudman Triathlon.

      Population: 12,146

      Median Household Income: $63,315

      Cost of Living: 91% of U.S. average

      Average Rent Price: $1,400

      Home Price-to-Income Ratio: 4.9

      2. Pocatello

      Pocatello, Idaho

      Photo credit: iStock/eric1513

      Pocatello makes a few appearances on this list, too, as it has a lot to offer. Sitting close to the Bannock Range mountains and home to Idaho State University, Pocatello has a lively and historic downtown area with antique shops, art galleries, and restaurants. The major employers here, in addition to the university, are in manufacturing, mining, transportation, agriculture, and medical products.

      Population: 58,064

      Median Household Income: $57,931

      Cost of Living: 83% of U.S. average

      Average Rent Price: $1,050

      Home Price-to-Income Ratio: 5.6

      3. Idaho Falls

      Idaho Falls, Idaho

      Photo credit: iStock/DenisTangneyJr

      This eastern Idaho city is the fourth-largest metropolitan area in the state. It sits along the Snake River and is a magnet for outdoor-lovers. The Idaho Falls River Walk – Greenbelt Trail, a five-mile path here, connects many of the city’s main attractions. The city also has a regional airport and a minor-league baseball team. Outside of town, the Hells Half Acre lava field offers hiking trails in a natural historical landmark.

      Population: 68,001

      Median Household Income: $69,630

      Cost of Living: 89% of U.S. average

      Average Rent Price: $1,227

      Home Price-to-Income Ratio: 5.4

      Recommended: Tips to Qualify for a Mortgage

      Best Places to Live in Idaho for Families

      If you’re looking for a place to plant roots for your growing family, here are a few highly rated options. Many of the best places to live in Idaho for families are in the Boise area, as it is the state’s largest city and its capital.

      1. Southeast Boise

      Southeast Boise, Idaho

      Photo credit: iStock/christiannafzger

      Twenty percent of households here have children, and this suburban area offers convenient access to all the Boise area has to offer. Parents are drawn here in part by its well-regarded school system. In addition to a zoo, a historic train depot, and plenty of parks, hiking trails, and outdoor adventure, Boise offers a science center and the popular World Center for Birds of Prey, where curious kids can see live bird demonstrations.

      Population: 32,357

      Median Household Income: $96,239

      Cost of Living: 112% of U.S. average

      Average Rent Price: $1,356

      Home Price-to-Income Ratio: 5.4

      2. Pocatello

      Pocatello, Idaho

      Photo credit: iStock/eric1513

      Just under a third of households in this pretty valley city are families with children, drawn by the area’s advantages noted above but also by fun family activities, such as Zoo Idaho, Fort Hall Replica (a local history museum), and the Idaho Museum of Natural History. Parents also appreciate that many of the local public schools are rated better-than-average.

      Population: 58,064

      Median Household Income: $57,931

      Cost of Living: 83,% of U.S. average

      Average Rent Price: $1,050

      Home Price-to-Income Ratio: 5.6

      3. Moscow

      Moscow, Idaho

      Photo credit: iStock/Shunyu Fan

      Roughly a 5.5-hour drive north from Boise in the western part of the state lies Moscow, another family-friendly place in Idaho. Moscow is home to the state’s land grant university, the University of Idaho, and also boasts a thriving art scene that includes the Lionel Hampton International Jazz Festival — the largest of its kind west of the Mississippi. There are lots of sporting events to keep families entertained, plus a local arboretum and botanical garden, and ample parks and bike paths. This city is more costly than others in Idaho, possibly due to location and the steady migration from California driving up prices here over the last decade or so. But it’s a good value when compared to cities in other states.

      Population: 26,387

      Median Household Income: $56,497

      Cost of Living: 90% of U.S. average

      Average Rent Price: $1,044

      Home Price-to-Income Ratio: 8.0

      Best Places to Live in Idaho for Young Adults

      Young adults tend to look for some combination of affordability, access to employment, and, well, fun activities to do with other young adults. These Idaho places rank highly for all.

      1. Boise

      Boise, Idaho

      Photo credit: iStock/4kodiak

      A young adult starting out will find a range of job opportunities in Idaho’s most populous city, where the median age is 39 and two thirds of households do not have children. Major employers here include Micron Technology, J.R. Simplot Company, HP, Inc., and Boise Cascade. Although the cost of living in Boise is higher than some other locations in Idaho, the proximity to natural beauty combined with career opportunities and lots of activities for singles makes this city appealing to young adults.

      Population: 235,421

      Median Household Income: $81,308

      Cost of Living: 112% of U.S. average

      Average Rent Price: $1,675

      Home Price-to-Income Ratio: 5.9

      2. Idaho Falls

      Idaho Falls, Idaho

      Photo credit: iStock/DenisTangneyJr

      Idaho Falls, known for its outdoor leisure activities, is also home to Idaho National Laboratory, a leader in clean-energy research and a main employer in the area. Over 20% job growth between 2018 and 2023 has kept this city on the Milken Institute Best-Performing Cities Index in 2025, yet housing costs remain relatively low, making this an appealing destination for young adults. The average age of the population here is 31.

      Population: 68,001

      Median Household Income: $69,630

      Cost of Living: 89% of U.S. average

      Average Rent Price: $1,227

      Home Price-to-Income Ratio: 5.4

      3. Caldwell

      Caldwell, Idaho

      Photo credit: iStock/Mike Worley

      A smaller city about a half hour west of Boise, Caldwell is in a more agricultural area, and young adults willing to make the commute will find reasonable home prices and rents not far from a bustling job market. The area is known for its fertile soil and all-terrain sports, and it’s a short drive from Idaho’s Lake Lowell and the Deer Flat National Wildlife Refuge. Another nearby fast-growing municipality is called Star.

      Population: 68,336

      Median Household Income: $66,663

      Cost of Living: 111% of U.S. average

      Average Rent Price: $1,568

      Home Price-to-Income Ratio: 5.1

      Best Places to Live in Idaho for Retirees

      Retirees who crave a four-season lifestyle and want access to natural wonders, not to mention beautiful mountain views, will enjoy life in Idaho. These are three top picks.

      1. Twin Falls

      Twin Falls, Idaho

      Photo credit: iStock/aoldman

      Nature lovers looking for a retirement spot will savor the opportunities for hiking and other outdoor activities in Twin Falls, located two hours by car southeast of Boise. Shoshone Falls, with a 212-foot vertical drop, which has earned them the nickname of “Niagara Falls of the West,” and the 5-acre Orton Botanical Gardens are popular local spots, and the downtown offers breweries, shops, and art exhibits for entertainment.

      Population: 54,943

      Median Household Income: $60,760

      Cost of Living: 95% of U.S. average

      Average Rent Price: $1,650

      Home Price-to-Income Ratio: 5.8

      2. Burley

      Burley, Idaho

      Photo credit: iStock/BOB WESTON

      As noted above, Burley is a popular spot for water-sports and fishing enthusiasts. Retirees might also enjoy spending time at the Cassia County Historical Museum and the King Fine Arts Center. Burley has two 55+ communities.

      Population: 12,146

      Median Household Income: $63,315

      Cost of Living: 91% of U.S. average

      Average Rent Price: $1,400

      Home Price-to-Income Ratio: 4.9

      3. Mountain Home

      Mountain Home, Idaho

      Photo credit: iStock/BOB WESTON

      This rural community offers views of mountains and sand dunes. Residents enjoy an annual country music festival, and Boise, which offers lots of cultural attractions and access to top-notch health care resources, is 45 minutes away by car.

      Population: 16,703

      Median Household Income: $58,486

      Cost of Living: 100% of U.S. average

      Average Rent Price: $1,365

      Home Price-to-Income Ratio: 5.8

      Recommended: Refinance Your Mortgage and Save

      Best Places to Live in Idaho Near the Water

      Idaho is a great place for outdoor enthusiasts — especially those who want to be close to the water. If that describes you and your goals for any phase of your life, these three towns are worth checking out, keeping in mind that waterside communities are almost always costlier than land-locked ones.

      1. Swan Valley

      Swan Valley, Idaho

      Photo credit: iStock/benedek

      Swan Valley is a tiny town in the Yellowstone range, less than an hour’s drive by car from both the Grand Teton and Yellowstone National Parks. It is on the banks of the South Fork of the Snake River and is best known for its world-class fly fishing.

      Population: 281

      Median Household Income: $86,222

      Cost of Living: 71% of U.S. average

      Average Rent Price: N/A

      Home Price-to-Income Ratio: 5.6

      2. Cascade

      Cascade, Idaho

      Photo credit: iStock/vkbhat

      This popular destination for outdoor enthusiasts is about 70 miles north of Boise. After biking, fishing, hiking, or skiing, residents and visitors enjoy the local hot springs and maybe a little axe-throwing at the local bar for good measure.

      Population: 978

      Median Household Income: $50,671

      Cost of Living: 92% of U.S. average

      Media Rent Price: $1,083

      Home Price-to-Income Ratio: 8.5

      3. Sandpoint

      Sandpoint, Idaho

      Photo credit: iStock/Amenohi

      This town lies between three mountain ranges on the shores of Idaho’s largest lake, the 43-mile-long Lake Pend Oreille. It prides itself on having a small-town (vs. a resort-town) vibe, and offers abundant opportunities for outdoor adventure plus a thriving arts and culture scene.

      Population: 10,024

      Median Household Income: $67,769

      Cost of Living: 113% of U.S. average

      Average Rent Price: $2,248

      Home Price-to-Income Ratio: 8.8


      The Takeaway

      No matter what your ideal neighborhood looks like, as long as you’re interested in outdoor fun, chances are you can find a place that suits your needs in Idaho. If you’re someone who enjoys experiencing all four seasons throughout the year, explore the most affordable places to live in Idaho to see if you can see yourself settling there.

      Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

      SoFi Mortgages: simple, smart, and so affordable.

      View your rate

      Browse Other States

      FAQ

      Where is the most desirable place to live in Idaho?

      Idaho is home to many cities, towns, and neighborhoods that are suited to all types of tastes. For example, cities like Idaho Falls are popular places for working professionals who prefer city living with close proximity to outdoor activities. Conversely, retirees can find relaxing communities to enjoy hard-earned downtime, such as Swan Valley or Sandpoint.

      Which town in Idaho has the best weather?

      Boise City is known for having the best weather in Idaho, which might be one reason why it has the largest population in the state at more than 236,000 residents. It has a high desert climate and snowy winters.

      Where is the most affordable place to live in Idaho?

      Idaho offers many locations that are good-value places to live, no matter what amenities you are looking for. Burley and Pocatello — recently overtaken by the former as the least expensive city in Idaho for living — are also two of the least expensive places to live in the U.S.


      SoFi Loan Products
      SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


      SoFi Mortgages
      Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.


      *SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.


      Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


      Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.



      Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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      Best Affordable Places to Live in South Dakota in 2025


      Best Affordable Places to Live in South Dakota in 2025

      south dakota vermillion

      On this page:

        By Kim Franke-Folstad

        (Last Updated – 03/2025)

        You may know South Dakota as the home of some of the nation’s most famous tourist attractions, including Mount Rushmore and Badlands National Park. But it’s also worth checking out if you’re looking for a comfortable and welcoming place to settle down. There’s no shortage of charming small towns and suburbs in South Dakota — or you can enjoy city life, without big-city prices, crowds, or crazy commute times.

        In case you were wondering (and of course you were!) South Dakota is among the most affordable states in the U.S., according to the MERIC Index, which ranks the cost of living by state. (Currently, it comes in at 14th.) The unemployment rate is low 2%. And housing costs are below the national average.

        Best Places to Live in South Dakota

        Searching for that special place where you can live your best life? Whether you’re looking for your first home, your family home, or the perfect home in which to retire — you may find South Dakota has just what you’re looking for. Here’s our roundup of some of the best places in South Dakota to live.


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        Best Affordable Places to Live in South Dakota

        One of the big advantages of living in the “Mount Rushmore State” is that almost anywhere you choose to live, the cost can be affordable. These three South Dakota cities are all highly rated for their quality of life, but the cost of living there doesn’t have to blow up your budget.

        1. Sioux Falls

        Sioux Falls, South Dakota

        Photo credit: iStock/Jacob Boomsma

        Sioux Falls is the largest city in South Dakota, so you can expect to find plenty of dining, shopping, and entertainment options downtown and in the surrounding area. There are lots of outdoor activities as well, right in the city, including the Great Plains Zoo and Falls Park, which overlooks the scenic waterfalls of the Big Sioux River. Don’t let the size of the city scare you off — median home values are lower than for the U.S. overall, and the cost of living here is one of the lowest in the U.S., period.

        Population: 206,410

        Median Household Income: $74,714

        Cost of Living: 83% of U.S. average

        Average Rent Price: $1,125

        Home Price-to-Income Ratio: 4.3

        2. Vermillion

        Vermillion, South Dakota

        Photo credit: iStock/kavram

        Vermillion is located near the banks of the Missouri River and has a historic downtown district with specialty shops, galleries, dining, and more. It’s also home to the University of South Dakota — so it’s a vibrant city with lots of activities, festivals, and live music performances. And there’s plenty of history to explore, as well.

        Population: 12,011

        Median Household Income: $52,815

        Cost of Living: 79% of U.S. average

        Average Rent Price: $825

        Home Price-to-Income Ratio: 4.6

        3. Rapid City

        Rapid City, South Dakota

        Photo credit: iStock/EunikaSopotnicka

        Want to live in a city but feel like your vacation is just steps away? Rapid City is known as the gateway to Mount Rushmore, and it’s close to all the great touristy stuff that draws visitors to the state. But it also can be an affordable and fun place to live and work. The downtown area offers plenty of galleries and public art for residents to enjoy, and the city celebrates the area’s Native American history and culture every year with the popular Black Hills PowWow.

        Population: 79,404

        Median Household Income: $65,712

        Cost of Living: 90% of U.S. average

        Average Rent Price: $1,225

        Home Price-to-Income Ratio: 5.3

        Best Places to Live in South Dakota for Families

        Families looking for good schools and easy access to shopping, dining, and activities for the kids may find these three South Dakota cities are a good fit.

        1. Brookings

        Brookings, South Dakota

        Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

        Brookings is home to South Dakota State University, the largest university in the state, and it’s South Dakota’s fourth-most-populous city. Still, the city is known for its sense of community and small-town charm. Families will find the good schools appealing, and there’s plenty there for both grownups and kids to do. The Brookings County Outdoor Adventure Center has an Olympic-sized archery range and hosts the county’s 4H program. If you’re wondering how much house you can afford, check out a home affordability calculator — and get some tips for your home-buying journey.

        Population: 24,312

        Median Household Income: $61,979

        Cost of Living: 77% of U.S. average

        Average Rent Price: $1,050

        Home Price-to-Income Ratio: 4.7

        2. Watertown

        Watertown, South Dakota

        Photo credit: iStock/Jacob Boomsma

        If you like the idea of living close to two popular lakes and two state parks, you’ll want to check out Watertown. The town offers plenty of activities throughout the year, including fishing and ice fishing, a cinema, bowling, a family aquatic center, and the Bramble Park Zoo. And the cost of living in Watertown is well below the national average.

        Population: 23,230

        Median Household Income: $62,721

        Cost of Living: 86% of U.S. average

        Median Rent Price: $1,050

        Home Price-to-Income Ratio: 4.7

        3. Harrisburg

        Harrisburg is one of the fastest-growing cities in South Dakota, and the city’s school system continues to expand to meet the community’s needs. The city also boasts a wide range of amenities for families, including parks and recreation facilities. Harrisburg residents can also enjoy the big-city amenities in Sioux City, which is just a short drive north.

        Population: 9,435

        Median Household Income: $101,534

        Cost of Living: 88% of U.S. average

        Average Rent Price: $1,595

        Home Price-to-Income Ratio: 3.4

        Recommended: Mortgage Prequalification vs. Preapproval

        Best Places to Live in South Dakota for Young Adults

        Hoping to find a city with a thriving job market, low cost of living, and fun things to do in your free time? Here are three locations that may offer the lifestyle you’re looking for.

        1. Madison

        Madison, South Dakota

        Photo credit: iStock/BOB WESTON

        Madison is one of those cities that could be described as “just right,” especially for young adults. It’s not too big or too small, the cost of living is low, and homes aren’t too expensive. There’s a vibrant downtown with shops, restaurants, museums, and more. And you don’t have to go far to get away from it all and enjoy hiking, fishing, camping, and more. It’s also the home of Dakota State University, so you’ll get that fun college-town vibe. Homes are mostly affordable, and first-time homebuyers may find their sweet spot here.

        Population: 6,091

        Median Household Income: $62,180

        Cost of Living: 80% of U.S. average

        Average Rent Price: $775

        Home Price-to-Income Ratio: 3.8

        2. Aberdeen

        Aberdeen, South Dakota

        Photo credit: Flickr/Jody Halsted , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

        Whether you plan to rent or buy, if affordability is a house-hunting priority, you may want to start with Aberdeen. You may even find a nice fixer-upper to invest in. And there’s no shortage of things to do in Aberdeen, from mini golf and movies to skating and a community garden. Aberdeen is another college town (it’s home to Northern State University), so there’s almost always a game or event going on. And the city is known for its fun nightlife.

        Population: 28,110

        Median Household Income: $63,715

        Cost of Living: 79% of U.S. average

        Average Rent Price: $975

        Home Price-to-Income Ratio: 3.4

        3. North Sioux City

        North Sioux City is another small South Dakota city that has lots to offer. It’s just a short commute to downtown Sioux City, Iowa, but North Sioux City also has its own thriving local business community. When you’re ready to play, there’s nearby McCook Lake for fishing and boating. And there are several restaurants, bars, and casinos on the stretch of road known as “The Strip.” North Sioux City is one of the pricier locations for homebuyers in South Dakota, but some neighborhoods are less expensive than others, so you may be able to find a bargain.

        Population: 3,018

        Median Household Income: $76,481

        Cost of Living: 83% of U.S. average

        Average Rent Price: $1,125

        Home Price-to-Income Ratio: 5.2

        Recommended: SoFi Home Loan Help Center

        Best Places to Live in South Dakota for Retirees

        These three South Dakota cities have a lot to offer, whether you’re hoping to ramp things up in retirement or slow things down.

        1. Hot Springs

        Hot Springs, South Dakota

        Photo credit: iStock/Bo Shen

        Hot Springs is known for its natural beauty and the therapeutic benefits of its natural mineral springs. Its popularity with veterans (it’s actually nicknamed “Veterans Town”) dates back to World War I, when a national hospital was established for the treatment of veterans, followed by a VA health-care facility and a state veterans home. The city is also a popular tourist spot, known for its vibrant art scene and its proximity to many of the state’s historic landmarks. Although the home price-to-income ratio for Hot Springs is outside the healthy range, the median home value there is much lower than in some nearby locations.

        Population: 3,506

        Median Household Income: $49,688

        Cost of Living: 83% of U.S. average

        Average Rent Price: $910

        Home Price-to-Income Ratio: 6.2

        2. Yankton

        Yankton, South Dakota

        Photo credit: iStock/Wirestock

        Yankton, also known as the “River City,” is located along one of the last natural-flowing stretches of the Missouri River. This makes it a big draw for outdoors lovers — but there’s also a historic downtown, museums, a live theater, and more. And the cost of living in Yankton is among the lowest in the state.

        Population: 15,630

        Median Household Income: $69,071

        Cost of Living: 75% of U.S. average

        Average Rent Price: $850

        Home Price-to-Income Ratio: 3.8

        3. Sturgis

        Sturgis, South Dakota

        Photo credit: iStock/gnagel

        You may know Sturgis for the Sturgis Motorcycle Rally, one of the largest bike rallies in the world — but it’s also a growing yet tight-knit community that welcomes families and retirees. The city hosts several festivals throughout the year, a Hometown Marketplace that showcases local vendors, and in the summer, there’s the Music on Main Summer Event Series. Hoping to stay in shape in retirement? The Sturgis Community Center has a pool and fitness facility, and there’s also a community garden. Understanding the different types of mortgage loans available could help you keep your options open if you are purchasing in Sturgis.

        Population: 7,067

        Median Household Income: $51,101

        Cost of Living: 93% of U.S. average

        Average Rent Price: $1,495

        Home Price-to-Income Ratio: 6.7

        💡 Quick Tip: Jumbo mortgage loans are the answer for borrowers who need to borrow more than the conforming loan limit values set by the Federal Housing Finance Agency ($832,750 in most places, and up to $1,249,125 in high-cost areas). If you have your eye on a pricier property, a jumbo loan could be a good solution.

        Best Places to Live in South Dakota Near the Water

        South Dakota is loaded with lakes and rivers, waterfalls, and springs. You may want to keep these locations in mind if a home near the water is a priority for you.

        1. Belle Fourche

        Belle Fourche, South Dakota

        Photo credit: iStock/James_Gabbert

        Belle Fourche (“beautiful fork”) is a quiet city located on the northern slopes of South Dakota’s Black Hills. It’s near the 8,000-acre Belle Fourche Reservoir, which is a popular spot for birding, biking, boating, and canoeing. And it’s close to many of the state’s most popular tourist attractions.

        Population: 5,873

        Median Household Income: $59,920

        Cost of Living: 86% of U.S. average

        Average Rent Price: $850

        Home Price-to-Income Ratio: 5.5

        2. Spearfish

        Spearfish, South Dakota

        Photo credit: iStock/dosecreative

        Spearfish Creek, the second-largest stream in the Black Hills, runs right through the center of the city of Spearfish, making it a mecca for freshwater fishing fans and tourists. But the city is also a family-friendly place to live, with a historic downtown lined with shops, coffeeshops, cafes, and wine bars. And there’s live entertainment in the summer. The overall cost of living in Spearfish is low, but homes can be pricey here.

        Population: 12,551

        Median Household Income: $59,731

        Cost of Living: 91% of U.S. average

        Average Rent Price: $1,475

        Home Price-to-Income Ratio: 7.3

        3. Fort Pierre

        Fort Pierre, South Dakota

        Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic

        Fort Pierre is a picturesque city on the bluffs of the Missouri River, so you’ll find plenty of beautiful scenery and recreational opportunities there. The city embraces its history and the French explorers who settled the region. But it’s also a modern city that prioritizes business growth and quality of life for its residents. The median home value here is down year over year and far below the U.S. median home value, which may make it easier to qualify for a mortgage. Rentals are limited and priced between $1,300 and $1,800 per month.

        Population: 2,534

        Median Household Income: $74,732

        Cost of Living: 87% of U.S. average

        Average Rent Price: N/A

        Home Price-to-Income Ratio: 4


        The Takeaway

        South Dakota is the fifth-least populated state in the U.S., but there are still plenty of cities there, and each has its own appeal. And because the overall cost of living, and often the cost of housing specifically, is so affordable, South Dakota can be an attractive option for families, retirees, young adults just starting out, or just about anyone.

        Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

        SoFi Mortgages: simple, smart, and so affordable.

        View your rate

        Browse Other States

        FAQ

        What is the most affordable city in South Dakota?

        There are many affordable places to live in South Dakota that are worth checking out, including Sioux Falls, Harrisburg, Yankton, and Fort Pierre.

        What is the nicest area to live in South Dakota?

        There are many beautiful and welcoming places to live in South Dakota. The Rapid City area is popular for its proximity to big-city amenities as well as the state’s biggest tourist attractions and getaways where you can enjoy fishing and camping.

        Is it a good idea to move to South Dakota?

        If you don’t mind cold winters, South Dakota can be a lovely place to live. The cost of living is low and the median home value in South Dakota is well below the median value for the U.S.


        SoFi Loan Products
        SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


        SoFi Mortgages
        Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.


        ¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.


        *SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.


        Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


        Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.



        Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
        SoFi On-Time Close Guarantee: If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will provide you $2,000.^ Terms and conditions apply. This Guarantee is available only for loan applications submitted after 6/15/22 for the purchase of a primary residence. Please discuss terms of this Guarantee with your loan officer. The property must be owner-occupied, single-family residence (no condos), and the loan amount must meet the Fannie Mae conventional guidelines. No bank-owned or short-sale transactions. To qualify for the Guarantee, you must: (1) Have employment income supported by W-2, (2) Receive written approval by SoFi for the loan and you lock the rate, (3) submit an executed purchase contract on an eligible property at least 30 days prior to the closing date in the purchase contract, (4) provide to SoFi (by upload) all required documentation within 24 hours of SoFi requesting your documentation and upload any follow-up required documents within 36 hours of the request, and (5) pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. The Guarantee will be void and not paid if any delays to closing are due to factors outside of SoFi control, including delays scheduling or completing the appraisal appointment, appraised value disputes, completing a property inspection, making repairs to the property by any party, addressing possible title defects, natural disasters, further negotiation of or changes to the purchase contract, changes to the loan terms, or changes in borrower’s eligibility for the loan (e.g., changes in credit profile or employment), or if property purchase does not occur. SoFi may change or terminate this offer at any time without notice to you. ^To redeem the Guarantee if conditions met, see documentation provided by loan officer.

        ‡Up to $9,500 cash back: HomeStory Rewards is offered by HomeStory Real Estate Services, a licensed real estate broker. HomeStory Real Estate Services is not affiliated with SoFi Bank, N.A. (SoFi). SoFi is not responsible for the program provided by HomeStory Real Estate Services. Obtaining a mortgage from SoFi is optional and not required to participate in the program offered by HomeStory Real Estate Services. The borrower may arrange for financing with any lender. Rebate amount based on home sale price, see table for details.

        Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.

        HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.

        SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.

        If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.

        Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.

        SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.

        The trademarks, logos and names of other companies, products and services are the property of their respective owners.


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        Alaska: Best Affordable Places to Live in 2025


        Best Affordable Places to Live in Alaska in 2025

        alaska homer

        On this page:

          By Timothy Moore

          (Last Updated – 03/2025)

          Alaska is a stunning state with dramatic landscapes, a rich culture, and exciting wildlife. However, its remote location and natural beauty make it an expensive place to live. The cost of living is nearly 25% more in Alaska than the national average across the U.S., making it the fifth most expensive state to live in. Grocery and utility costs are particularly high, both because of the state’s inaccessibility and because of its intense cold climate.

          That said, you can still find affordable places to live in Alaska, and you’ll appreciate Alaska’s tax code. There are no state income taxes and no state sales taxes.

          Even so, most of the best places to live in Alaska come at a high cost. Below, we’ll break down living costs in various large cities (and smaller towns).

          Best Places to Live in Alaska

          Finding the best places in Alaska to live depends on your wants and needs. The cost of living in Alaska is high, so it’s important you think about this move with your budget in mind, first and foremost. If you’re choosing between several possible locations, check out the cost of living by state for each.

          You’ll also need to think about if you’d rather be on the coast, such as near Anchorage; inland, perhaps near Fairbanks; or along the Inside Passage, such as near Juneau. Consider elements like climate, access to airports, and the natural landscape when making your decision.


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          💡 Quick Tip: When house hunting, don’t forget to lock in your home mortgage loan rate so there are no surprises if your offer is accepted.

          Best Affordable Places to Live in Alaska

          Alaska’s most popular cities, including Anchorage and Juneau, are expensive to live in. If you’re trying to move to Alaska on a budget, you’ll want to stick to smaller towns. The exception is Fairbanks, which is somewhat affordable — at least by Alaska standards.

          Regardless, make sure you look into first-time homebuyer programs in Alaska to see how you can save money. And if you’re a newbie homebuyer, use a first-time homebuyer guide to learn more about the process before you start shopping.

          1. Knik-Fairview

          Looking for an affordable place to live in Alaska that isn’t far outside of the big city of Anchorage? Take a closer look at Knik-Fairview. You’ll have to drive into Anchorage (it’s about an hour) for most things, but if you like the remoteness of the state, Knik-Fairview could be a place to put down roots.

          When you’re ready to make a move, know that when home shopping, it can be wise to go through the mortgage preapproval process to compete more effectively in the market.

          Population: 19,297

          Median Household Income: $95,000

          Cost of Living: 110.8% of U.S. average

          Average Rent Price: $1,973

          Home Price-to-Income Ratio: 3.91

          2. Badger

          Badger may be small, but it’s not far from Fairbanks (see below), so there’s still plenty to do (beyond just enjoying Alaska’s beauty). Badger is a great spot to see the Northern Lights, and it’s also super close to the small city of North Pole, known for its year-round Christmas decorations.

          Population: 19,031

          Median Household Income: $98,042

          Cost of Living: 104% of U.S. average

          Average Rent Price: $1,240

          Home Price-to-Income Ratio: 3.15

          Recommended: Tips to Qualify for a Mortgage

          3. Fairbanks

          Fairbanks, Alaska

          Photo credit: iStock/Jacob Boomsma

          Fairbanks is one of Alaska’s largest cities, but it’s much more affordable than Anchorage. If you’re moving to Alaska on a budget but still need a connection to people, Fairbanks is top of the list of best places in Alaska to live. The area is home to great restaurants, museums, and festivals, but it still offers access to Alaska’s pristine nature.

          To see what type of home mortgage loan you might qualify for, consider getting prequalified for a home loan before you embark in earnest on your home search.

          Population: 31,856

          Median Household Income: $72,077

          Cost of Living: 115% of U.S. average

          Average Rent Price: $1,600

          Home Price-to-Income Ratio: 3.99

          Best Places to Live in Alaska for Families

          Hoping to raise a family in the 49th state? Here are three great places to live in Alaska with your family:

          1. Fairbanks

          Fairbanks, Alaska

          Photo credit: iStock/Jacob Boomsma

          Want to raise your crew in a city large enough to offer all the commodities a busy family needs? Think about settling in Fairbanks. It offers plenty for your kids to do and still lets you easily access the natural part of Alaska that likely drew you to the state in the first place.

          Population: 31,856

          Median Household Income: $72,077

          Cost of Living: 115% of U.S. average

          Average Rent Price: $1,600

          Home Price-to-Income Ratio: 3.99

          Recommended: What Are the Different Types of Home Mortgages?

          1. Cordova

          Cordova, Alaska

          Photo credit: iStock/Gerald Corsi

          Cordova is a great place to live with your family in Alaska. Though small, it’s ideally situated to reach Anchorage and the Kenai Peninsula, plus some of the coastal villages farther south. Families may find its combination of good schools and suburban vibe appealing. While rents and housing prices may not be exceptional for Alaska, the cost of living in Cordova is quite high, so it may be a stretch for those who are not in high-paying careers.

          Population: 2,405

          Median Household Income: $88,538

          Cost of Living: 140% of U.S. average

          Average Rent Price: $1,280

          Home Price-to-Income Ratio: 4.44

          3. Sitka

          Sitka, Alaska

          Photo credit: iStock/filo

          Unless you’re a commercial fisher, jobs may be hard to come by in Sitka. That said, if you have a remote job, Sitka should certainly be on your personal list of the best places to live in Alaska for families. It’s affordable and offers plenty of outdoor activities to keep kids immersed in nature — and the weather tends to be a little less harsh than cities and villages within the Inside Passage.

          Population: 8,282

          Median Household Income: $101,207

          Cost of Living: 117% of U.S. average

          Average Rent Price: $1,074

          Home Price-to-Income Ratio: 4.67

          Best Places to Live in Alaska for Young Adults

          Young adults relocating to Alaska will find the most jobs, companionship, and things to do in the larger cities. Here are some affordable options to consider.

          1. Anchorage

          Anchorage, Alaska

          Photo credit: iStock/A&J Fotos

          If you’re a young adult drawn to the remote adventures that await in Alaska — but you still want trendy restaurants and exciting nightlife — check out Anchorage. It’s the state’s largest city by a landslide, so there’s always something to do. Anchorage also skews fairly young; the median age is 36.

          Population: 286,075

          Median Household Income: $98,152

          Cost of Living: 121% of U.S. average

          Median Rent Price: $1,775

          Home Price-to-Income Ratio: 3.92

          2. Fairbanks

          Fairbanks, Alaska

          Photo credit: iStock/andyKRAKOVSKI

          Young adults may want to consider putting down roots in Fairbanks. There’s plenty to do in the city for young people, and the median age is 28.6. Job opportunities abound; some of the largest employers include the University of Alaska and Doyon (a large Native corporation), Fairbanks Memorial Hospital.

          Population: 31,856

          Median Household Income: $72,077

          Cost of Living: 115% of U.S. average

          Average Rent Price: $1,600

          Home Price-to-Income Ratio: 3.99

          Recommended: Refinance Your Mortgage and Save

          3. Badger

          Fairbanks itself is a great city for young adults, but those who want to be a little farther out from the downtown area can settle down in Badger. The median age here is 34.7, and young adults can find plenty of work in health care, construction, public administration, mining, oil and gas, and more.

          Population: 19,031

          Median Household Income: $98,042

          Cost of Living: 104% of U.S. average

          Average Rent Price: $1,240

          Home Price-to-Income Ratio: 3.15

          Recommended: First-Time Homebuyer Guide

          Best Places to Live in Alaska for Retirees

          Retiring in Alaska isn’t logical from a financial perspective: Though Alaska doesn’t have state taxes (and so has the lowest tax burden on the list of best states to retire for taxes), it has a very high cost of living that can eat into retirement savings at a fast clip. It’s also not typical retirement weather, with winter temperatures typically staying well below freezing from November through March.

          But if you want a retirement filled with remote adventure, Alaska could be right for you. Here are three places to consider retiring:

          1. Fairbanks

          Fairbanks, Alaska

          Photo credit: iStock/sarkophoto

          Fairbanks offers retirees easy access to an airport, which might be important in the winter when you want to escape the cold. But if the cold is your thing, you’ll love Fairbanks. In fact, the Milken Institute named Fairbanks one of the Best Cities for Successful Aging a few years back, due in part to easy access to health and wellness amenities.

          Population: 31,856

          Median Household Income: $72,077

          Cost of Living: 115% of U.S. average

          Average Rent Price: $1,600

          Home Price-to-Income Ratio: 3.99

          2. Juneau

          Juneau, Alaska

          Photo credit: iStock/chaolik

          Juneau’s population over 65 may be small (just over 15%), but that doesn’t mean the spot isn’t friendly to retirees. If you want to live a more active lifestyle in retirement, the capital city of Alaska offers plenty to do, including wildlife watching and symphony orchestras.

          Population: 31,555

          Median Household Income: $100,513

          Cost of Living: 131% of U.S. average

          Average Rent Price: $2,400

          Home Price-to-Income Ratio: 4.75

          3. Kenai

          Kenai, Alaska

          Photo credit: iStock/flownaksala

          This coastal town is far enough outside Anchorage to give retirees a sense of remote living, but close enough to get to the airport in three hours — not an everyday drive, of course, but not as inconvenient as some other spots in Alaska. More importantly, Kenai has some of the most stunning scenery in the state, is home to several parks and beaches, and offers plenty of sport fishing, if that’s on your vision board for retirement.

          Population: 7,746

          Median Household Income: $74,907

          Cost of Living: 106% of U.S. average

          Average Rent Price: $1,530

          Home Price-to-Income Ratio: 4.30

          Best Places to Live in Alaska Near the Coast

          If you’re looking for coastal Alaskan living, consider making one of these cities your home instead:

          1. Sitka

          Sitka, Alaska

          Photo credit: iStock/sphraner

          Sitka sits outside the Inside Passage, truly on the Gulf of Alaska. That makes it the perfect coastal spot for boating, surfing, snorkeling, and kayaking, as well as dolphin and whale watching. If you’re a water enthusiast, Sitka might be high on your list.

          Population: 8,282

          Median Household Income: $101,207

          Cost of Living: 117% of U.S. average

          Average Rent Price: $1,074

          Home Price-to-Income Ratio: 4.67

          2. Kenai

          Kenai, Alaska

          Photo credit: iStock/andyKRAKOVSKI

          Kenai is located at the end of the Kenai River, where it empties into the Cook Inlet. That makes Kenai a water-lover’s paradise. Kenai Beach is stunning, with ancient rock formations and even camping in the summer months.

          Population: 7,746

          Median Household Income: $74,907

          Cost of Living: 106% of U.S. average

          Average Rent Price: $1,530

          Home Price-to-Income Ratio: 4.30

          3. Anchorage

          Anchorage, Alaska

          Photo credit: iStock/Jeff Manes

          Anchorage sits at the end of the Cook Inlet, right where it forks into two arms. If you want easy access to the coast but don’t want to give up the perks of big-city living — restaurants, breweries, shopping, museums, and more — then Anchorage could be the spot for you.

          Population: 286,075

          Median Household Income: $98,152

          Cost of Living: 121% of U.S. average

          Average Rent Price: $1,775

          Home Price-to-Income Ratio: 3.92

          💡 Quick Tip: Jumbo mortgage loans are the answer for borrowers who need to borrow more than the conforming loan limit values set by the Federal Housing Finance Agency ($832,750 in most places, and up to $1,249,125 in high-cost areas). If you have your eye on a pricier property, a jumbo loan could be a good solution.


          The Takeaway

          Ready to start your long-term Alaskan adventure? Before moving to Alaska, think long and hard about your budget, the climate, and what amenities you want easy access to. Some of Alaska’s most beautiful places are the hardest to reach, with the most extreme temperatures. Larger cities offer more shopping and cultural events, but may not have the same remote Alaskan feel.

          Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

          SoFi Mortgages: simple, smart, and so affordable.

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          FAQ

          How much money do you need to live comfortably in Alaska?

          Given that Alaska’s cost of living is higher than the national average, you will likely need to earn more than the average American to live comfortably in Alaska. That said, however, your specific situation will determine the amount needed. Where you live, how big a home you have, how many family members you have, and your amount of debt can all be factors. The general rule of thumb is to make roughly three times your rent or mortgage to live comfortably.

          Is Alaska affordable to live in?

          Alaska is a breathtaking state full of adventure, but it is not generally considered affordable to live in. In fact, it has the fifth-highest cost of living in the U.S.

          How much does it cost to live in Alaska per year?

          In general, the cost of living in Alaska is about 25% more than elsewhere in America. Exactly how much you will need to spend depends on where you live, your housing costs, lifestyle, and other factors.


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          Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


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