10 Most Affordable Cities for Millennials
Written by
Vance Cariaga
Edited by
Cory Dudak
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Millennials might represent the most diverse generation right now, at least in terms of where they are in different stages of life. The oldest millennials are in their 40s, have already started careers and families and are creeping ever closer to middle age. The youngest are in their late 20s and might only now be emerging from college or a few years of roaming around.
People in these two life stages have different priorities, but chances are both groups prefer to live where it’s affordable. Low costs of living are important to older millennials who have mortgages to pay, children to raise and retirement plans to grow. For younger millennials just starting their careers, affordability is important in terms of meeting tight budgets and/or paying down college loans.
One way millennials (and Gen Z) are saving money is by waiting to have children while also cutting expenses — and one of the best ways to cut expenses is to live where it’s cheap. Earlier this year, the Car Insurance Comparison website analyzed U.S. cost-of-living data to come up with the most affordable cities for millennials.
The analysis looked at common monthly expenses such rent, utilities, groceries and car insurance. It also looked at quality-of-life factors that particularly appeal to millennials.
Affordable Cities For Millennials
Here’s a look at the 10 most affordable cities for millennials based on their cost of living compared to New York City and the median rent according to the U.S. Census Bureau.
| City | Percentage Lower Cost of Living vs. NYC | Median Monthly Rent |
| El Paso, Texas | 59.44% | $724 |
| Wichita, Kansas | 57.33% | $650 |
| Little Rock, Arkansas | 56.52% | $692 |
| Akron, Ohio | 56.22% | $659 |
| Toledo, Ohio | 54.74% | $594 |
| Tulsa, Oklahoma | 53.32% | $674 |
| Tucson, Arizona | 52.85% | $722 |
| Lexington, Kentucky | 52.85% | $789 |
| Dayton, Ohio | 50.77% | $558 |
| Mesa, Arizona | 50.72% | $971 |
One city not on the above list that Car Insurance Comparison deemed “perfect” for millennials is San Antonio, Texas — which might not rank among the most affordable but ticks a lot of other boxes for millennials. Those boxes include “plenty of sunshine,” a thriving cultural scene, plenty of historical landmarks, excellent cuisine and good job opportunities in industries like information technology, cybersecurity, aerospace and new energy.
Other cities cited by Car Insurance Comparison with the right mix of affordability and quality of life are Cincinnati, Ohio and Kansas City, Missouri.
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