Austin tops Forbe’s list of America’s Best Bargain Cities!

austin best bargain city in the us

Forbe’s list of America’s Best Bargain Cities based on average salary, annual unemployment statistics, the Housing Opportunity Index, and the cost of living:

  1. Austin, Texas
  2. Phoenix, Arizona
  3. Washington, D.C.
  4. Fort Worth, Texas
  5. Cincinnati, Ohio
  6. Indianapolis, Indiana
  7. Columbus, Ohio
  8. Dallas, Texas
  9. Houston, Texas
  10. San Antonio, Texas
  11. Nashville, Tennessee
  12. Denver, Colorado
  13. Cambridge, Massachusetts
  14. Kansas City, Missouri
  15. Detroit, Michigan

Austin topped the list with high marks in all four indicators used by Forbe’s, and 4 other Texas cities joined Austin in this National top-15 list:  Fort Worth, Dallas, Houston, and San Antonio.

Nearly a decade ago, after making a donation to a volunteer-run radio station in Austin, Texas, local librarian Red Wassenich was asked why he chose to support a broadcaster with a penchant for playing strange crooner music. “Because it keeps Austin weird,” he said.

Since then, the phrase “Keep Austin Weird” has become the city’s official rallying cry against the establishment of large chain stores near mom-and-pop shops–and, more generally, for maintaining the city’s eccentric feel. The city may be weird, but perhaps more redeeming is that it’s also a bargain to live there: Austin is the place where people pay the least to get the most.

“Austin has always been really different from the rest of Texas,” says Wassenich, 59.

America’s Least Overpriced / Most Underpriced Cities

Forbe’s list from 2007 covers the least over-priced US cities and Austin ranks 2nd!

1. Charlotte, N.C.

Median home price: $190,600
P/E: 15th lowest
Affordability rank: 8th most affordable
Housing price trend: 8%

2. Austin

Median home price: $173,700
P/E: 12th lowest
Affordability rank: 13th most affordable
Housing price trend: 4.9

3. Raleigh, N.C.

Median home price: $213,700
P/E: 17th lowest
Affordability rank: 14th most affordable
Housing price trend: 14.5%

4. Detroit

Median home price: $151,700
P/E: 8th lowest
Affordability rank: 2nd most affordable
Housing price trend: -1%

5. St. Louis

Median home price: 147,900
P/E: 11th lowest
Affordability rank: 3rd most affordable
Housing price trend: 0.5

6. Pittsburgh

Median home price: $116,100
P/E: 3rd lowest
Affordability rank: 5th most affordable
Housing price trend: -1.8%

7. Orlando

Median home price: $272,100
P/E: Lowest
Affordability rank: 15th least affordable
Housing price trend: 3.9%

8. Philadelphia

Median home price: $230,200
P/E: 16th lowest
Affordability rank: 11th most affordable
Housing price trend: 3.3%

9. Indianapolis

Median home price: $119,300
P/E: 2nd lowest
Affordability rank: Most affordable
Housing price trend: -4%

10. El Paso

Median home price: $127,600
P/E: 12th lowest
Affordability rank: 13th most affordable
Housing price trend: 4.9%