Sunday, October 19, 2008

Cities Where Your Buck Goes Furthest

Money goes further some places in the United States than it does in others.

Housing, in particular, has remained most affordable in the South and the Midwest. That’s because of less stringent building, an abundance of land and growing populations in the South, says Daniel McCue, a research analyst at Harvard’s Joint Center for Housing Studies.

To determine the cities that offer the best quality of life for the least amount of money, Forbes magazine calculated the ratios between a city’s median home price and its median household income. It also factored in projected job growth. And it compared median income to Moody’s’s cost of living index.

Here are the 10 cities that it found to offer the best value, and the cities that it believes offers the worst value.

Cities Where Residents Get the Most for Their Money:
  1. Austin, Texas
  2. San Antonio, Texas
  3. Indianapolis, Ind.
  4. Houston, Texas
  5. Charlotte, N.C.
  6. Columbus, Ohio
  7. Dallas
  8. Minneapolis/St. Paul
  9. Denver
  10. Portland, Ore.
Cities Where Residents Get the Least for Their Money:
  1. Los Angeles
  2. Providence, R.I.
  3. New Orleans
  4. Philadelphia
  5. Cleveland
  6. New York
  7. Milwaukee, Wisc.
  8. St. Louis, Mo.
  9. Washington, D.C.
  10. Sacramento, Calif.
Source: Forbes, Abha Bhattarai (10/10/2008)

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