UTAH (ABC4) – What’s the most affordable place to live and work in the U.S. today?

With record inflation raising the cost of living for many folks, some may be looking for a change of pace. Perhaps moving to a city where living costs are more manageable could be the right move for you and your family.

A new study by GoodHire analyzed data from 155 U.S. cities to find those with the most opportunity and affordability for residents.

“Across the country we dealt with continued restraints and restrictions caused by the COVID-19 pandemic, threats to an already shaky labor market, spiking housing costs, and record inflation that saw prices increase at the fastest rate in 40 years,” officials say. “Many Americans have struggled this past year, and those same people are looking for financial relief in 2022.”

The study considered seven key factors for cities with a labor force totaling over 150,000:

  • Wage Growth (20% weight)
  • Unemployment Rate (10% weight)
  • Job Growth (20% weight)
  • Percentage of Jobs Open (10% weight)
  • Renter Affordability (15% weight)
  • Homeowner Affordability (15% weight)
  • Real Per Capita Personal Income (10% weight)

After weighing all of the data involving these key factors, experts have narrowed down the cities where opportunity and affordability are most accessible.

Despite the real estate market experiencing an unprecedented boom, three Utah cities are still presenting residents with both job opportunities with relatively manageable living costs.

The top 10 most affordable U.S. cities to live and work in 2022 are:

  1. Sioux Falls, South Dakota
  2. Reno, Nevada
  3. Provo, Utah
  4. Madison, Wisconsin
  5. Huntsville, Alabama
  6. Charleston, South Carolina
  7. Fayetteville, Arkansas
  8. Ogden, Utah
  9. Salt Lake City, Utah
  10. Spartanburg, South Carolina

The top 10 least affordable U.S. cities to live and work in 2022 are:

  1. Los Angeles, California
  2. Hartford, Connecticut
  3. Corpus Christ, Texas
  4. Bakersfield, California
  5. Shreveport, Louisiana
  6. Modesto, California
  7. El Paso, Texas
  8. New York, New York
  9. Rockford, Illinois
  10. McAllen, Texas

To calculate the best job markets in the country, experts factored in the number of job opportunities, earning potential, and housing affordability.

U.S. cities with the best job markets in 2022:

  1. Reno, Nevada
  2. Spartanburg, South Carolina
  3. Savannah, Georgia
  4. Provo, Utah
  5. Boise, Idaho
  6. Naples, Florida
  7. Ogden, Utah
  8. Salt Lake City, Utah
  9. Phoenix, Arizona
  10. Palm Bay, Florida

To check out the full list of the most affordable cities to live and work in throughout the nation, click here.