How Forbes crunched the numbers:
Forbes started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MDs) — cities and their surrounding suburbs, as defined by the Office of Budget and Management — all with populations of 600,000 or more.
Data studied included:
- Housing affordability, using the latest Housing Opportunity Index from the National Association of Home Builders and Wells Fargo.
- Cost of living using an index developed by Sperling's Best Places, which measures the cost of food, utilities, gas, transportation, medical expenses, and other daily expenses in each area.
- Consumer Price Index (where housing is weighted just under 32%). Since housing is such an important expense to most people, Forbes tipped the scales slightly higher.
Dayton has been recognized by Forbes magazine as one of the most affordable places to live in the country.
Great news for the Gem City!
The Midwest, and Ohio in particular, fared well with Cincinnati (No. 5), Dayton (No. 8), Columbus (No. 10) and Akron (No. 15).
Birmingham, Ala., topped the list.
The rankings:
1. Birmingham, Ala.
2. Knoxville, Tenn.
3. Buffalo, N.Y.
4. Oklahoma City, Okla.
5. Cincinnati, Ohio
6. Memphis, Tenn.
7. St. Louis, Mo.
8. Dayton, Ohio
9. Indianapolis, Ind.
10. Columbus, Ohio and Detroit, Mich. (tie)
11. Colorado Springs, Colo.
12. Greenville, S.C.
13. Louisville, Ky.
14. Warren, Mich.
15. Akron, Ohio
16. Grand Rapids, Mich.
17. McAllen, Texas
18. Tulsa, Okla.
19. Austin, Texas
20. San Antonio, Texas
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