When it comes to living costs, America’s 30 most populous downtowns are far from equal.
To rank the nation’s 30 largest downtowns from least to most affordable, GOBankingRates researched the most populous zip codes in downtown areas and scored them based on each city’s cost of living, median household income, median rent, average basic utilities cost and average monthly transportation costs.
When reviewing each city’s overall cost-of-living index, keep in mind that the national median score is 100. The higher a city’s overall cost-of-living index is over 100, the less affordable it is.
You may not be surprised to see that the three least affordable downtowns — and four of the top seven least affordable — are located in notoriously expensive California. Four of the 11 least expensive downtowns can be found in Texas. Here are the final rankings.
30. San Francisco
- Total city population: 851,036
- Overall cost-of-living index: 245.50
- Total score factoring in all expenses: 0.8750
29. San Jose, California
- Total city population: 1,001,176
- Overall cost-of-living index: 231.00
- Total score factoring in all expenses: 0.9688
28. San Diego
- Total city population: 1,383,987
- Overall cost-of-living index: 154.90
- Total score factoring in all expenses: 1.2759
27. New York
- Total city population: 8,622,467
- Overall cost-of-living index: 172.50
- Total score factoring in all expenses: 1.3549
26. Boston
- Total city population: 665,945
- Overall cost-of-living index: 150.80
- Total score factoring in all expenses: 1.6200
25. Seattle
- Total city population: 734,603
- Overall cost-of-living index: 158.10
- Total score factoring in all expenses: 1.8922
24. Los Angeles
- Total city population: 3,881,041
- Overall cost-of-living index: 161.70
- Total score factoring in all expenses: 1.9752
23. Portland, Oregon
- Total city population: 646,101
- Overall cost-of-living index: 127.70
- Total score factoring in all expenses: 2.1615
22. Denver
- Total city population: 710,800
- Overall cost-of-living index: 127.60
- Total score factoring in all expenses: 2.2981
21. Washington, D.C.
- Total city population: 670,587
- Overall cost-of-living index: 151.90
- Total score factoring in all expenses: 2.3291
20. Dallas
- Total city population: 1,300,642
- Overall cost-of-living index: 100.20
- Total score factoring in all expenses: 2.5040
19. Charlotte, North Carolina
- Total city population: 875,045
- Overall cost-of-living index: 102.50
- Total score factoring in all expenses: 2.5405
18. Philadelphia
- Total city population: 1,593,208
- Overall cost-of-living index: 104.30
- Total score factoring in all expenses: 2.6262
17. Fort Worth, Texas
- Total city population: 924,663
- Overall cost-of-living index: 101.50
- Total score factoring in all expenses: 2.6673
16. Phoenix
- Total city population: 1,609,456
- Overall cost-of-living index: 113.00
- Total score factoring in all expenses: 2.7107
15. Oklahoma City
- Total city population: 681,088
- Overall cost-of-living index: 85.50
- Total score factoring in all expenses: 2.8315
14. Chicago
- Total city population: 2,721,914
- Overall cost-of-living index: 105.70
- Total score factoring in all expenses: 2.8388
13. Indianapolis
- Total city population: 882,006
- Overall cost-of-living index: 85.70
- Total score factoring in all expenses: 2.8443
12. Las Vegas
- Total city population: 644,835
- Overall cost-of-living index: 110.60
- Total score factoring in all expenses: 2.8492
11. Austin, Texas
- Total city population: 958,202
- Overall cost-of-living index: 129.10
- Total score factoring in all expenses: 2.8804
10. Houston
- Total city population: 2,296,253
- Overall cost-of-living index: 96.90
- Total score factoring in all expenses: 2.9026
9. Nashville, Tennessee
- Total city population: 684,103
- Overall cost-of-living index: 104.70
- Total score factoring in all expenses: 2.9341
8. Detroit
- Total city population: 636,787
- Overall cost-of-living index: 91.80
- Total score factoring in all expenses: 2.9799
7. Columbus, Ohio
- Total city population: 902,449
- Overall cost-of-living index: 91.40
- Total score factoring in all expenses: 3.0261
6. San Antonio
- Total city population: 1,445,662
- Overall cost-of-living index: 91.30
- Total score factoring in all expenses: 3.0984
5. Louisville, Kentucky
- Total city population: 629,176
- Overall cost-of-living index: 89.80
- Total score factoring in all expenses: 3.1123
4. El Paso, Texas
- Total city population: 677,181
- Overall cost-of-living index: 81.90
- Total score factoring in all expenses: 3.1222
3. Baltimore
- Total city population: 584,548
- Overall cost-of-living index: 92.60
- Total score factoring in all expenses: 3.2307
2. Jacksonville, Florida
- Total city population: 950,203
- Overall cost-of-living index: 95.70
- Total score factoring in all expenses: 3.4093
1. Memphis, Tennessee
- Total city population: 630,027
- Overall cost-of-living index: 85.80
- Total score factoring in all expenses: 3.4868
Jami Farkas and John Csiszar contributed to the reporting for this article.
Methodology: For this study, GOBankingRates analyzed the top 30 U.S. cities in terms of population as sourced from the U.S. Census Bureau’s American Community Survey. The ZIP code with the most population in each of the cities was recorded, along with the population. Using the RandyMajors.org ZIP Codes Map, the ZIP codes in downtown areas were recorded. For each of those ZIP codes, the total population was determined through the American Community Survey. The cost-of-living index for each city was sourced from Sperlings BestPlaces. The median household income and median rent cost were sourced from the American Community Survey. The average basic utilities cost and average monthly transportation costs were sourced from Numbeo’s Cost of Living. The cost-of-living index, the rent cost, the transportation cost and the utilities cost were each scored and weighted at 1.00. All the scores were summed and sorted to show the most affordable downtowns among U.S. cities with the largest populations. All data was collected on and is up-to-date as-of April 3, 2024.