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The pandemic-driven shift to remote work freed millions of Americans to move wherever they wanted, but soon after, soaring inflation put the brakes on many of those dreams. So what’s left out there for people who are ready to pull up stakes but have been priced out of their new location of choice?
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GOBankingRates spoke to real estate professionals and other cost-of-living experts in different locations across the country, from big cities to small towns and everything in between. The following is a list of locations where inflation remains a step behind the cost of living if you’re looking for somewhere to live well on the cheap.
Johnson City — and Tennessee, in General
According to the most recent census, Tennessee has seen its population explode in recent years as people flock to the state for low costs and nice weather.
“Tennessee, even with the sudden influx of people, still has an excellent cost of living,” said Erik Wright, owner of NewHorizon Home Buyers. “The median house still costs only $231,600. In addition, Tennessee had the largest growth of six-figure jobs, which indicates a large pool of disposable income, which can help grow businesses that continue the income growth.”
One location in the Volunteer State stands out as an especially ripe bargain.
“Despite the rising inflation, Johnson City is one of the places where you will have to pay approximately half the cost of living as compared to Houston,” said Erick Nilsson, a housing professional and founder of Rentola. “Even the doctor visits in the state are 60% less costly than other states. The cost-of-living score of the area is 65 out of 75 points.”
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Alabama — Particularly the Auburn Area
If you cross Tennessee’s southern border, you’ll enter one of the best states to live in on a budget.
“One of the most affordable states in America is Alabama,” said George Beatty, founder of Problem Property Pals. “Even with regard to rising inflation, the state can prove to be a cheap stay for families. For example, let’s suppose your home is roughly over 2,000 square feet and has four bedrooms, along with two baths on a decent-sized lot in the city of Auburn. You can expect to pay approximately 33% of what you would pay for a similar home in California. The cost of living score in Alabama is 68 out …….