According to a recent report by CNBC, a well-known U.S. job search website has ranked 10 U.S. cities with the best cost-of-living ratios based on salary and property value. This ratio is calculated by dividing the median base salary in a city by the median home price. The higher the cost-of-living ratio, the more money people can save or spend.
Below are the 10 cities with the best cost-of-living ratios:
1. Detroit, MI
Cost-of-living ratio: 50%
Median base salary: $61,500
Median home price: $123,100
Number of open positions: 54,808
2. Memphis, TN
Cost-of-living ratio: 46%
Median base salary: $52,000
Median home price: $112,100
Number of open positions: 17,982
3. Pittsburgh, PA
Cost-of-living ratio: 45%
Median base salary: $56,896
Median home price: $126,700
Number of open positions: 46,379
4. Cleveland, OH
Cost-of-living ratio: 44%
Median base salary: $55,000
Median home price: $125,500
Number of open positions: 29,304
5. Indianapolis, IN
Cost-of-living ratio: 43%
Median base salary: $56,000
Median home price: $130,200
Number of open positions: 33,090
6. St. Louis, MO
Cost-of-living ratio: 40%
Median base salary: $56,896
Median home price: $141,900
Number of open positions: 35,300
7. Cincinnati, OH
Cost-of-living ratio: 40%
Median base salary: $57,179
Median home price: $143,400
Number of open positions: 32,605
8. Birmingham, AL
Cost-of-living ratio: 40%
Median base salary: $50,800
Median home price: $128,000
Number of open positions: 15,299
9. Kansas City, MO
Cost-of-living ratio: 39%
Median base salary: $58,000
Median home price: $147,500
Number of open positions: 35,639
10. Louisville, KY
Cost-of-living ratio: 39%
Median base salary: $54,000
Median home price: $137,500
Number of open positions: 22,693
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